SNC Targets Canadian Projects as Trudeau’s Plan Gets Jump on Trump’s
- CEO sees U.S. a few years behind in getting work started
- Builder looks to replenish backlog with new contract wins
A crane at a condominium construction site stands at dawn in Toronto, Ontario, Canada, on Saturday, May 27, 2017. Canadian mortgage growth is slowing as the country's policy makers step up efforts to cool overheated housing markets in Vancouver and Toronto. With four of Canada's biggest banks reporting second-quarter results, the trend shows that growth in home loan portfolios is easing and in some cases shrinking.
Photographer: Brent Lewin/BloombergCanada’s biggest builder is keeping its focus at home even as U.S. President Donald Trump pledges to ramp up infrastructure spending next door.
SNC-Lavalin Group Inc. is bidding on projects such as light-rail lines in Ottawa and Toronto and a C$6 billion ($4.7 billion) rapid-transit system for Montreal, as Prime Minister Justin Trudeau follows through on a pledge to invest C$120 billion on infrastructure over 12 years. Trump’s plan is “still to be confirmed,” said SNC Chief Executive Officer Neil Bruce.