The federal government will contribute up to $200 million in a public-private partnership (P3) to support the construction of the Regina Bypass.
WHITE CITY, SASK.
The federal government will contribute up to $200 million in a public-private partnership (P3) to support the construction of the Regina Bypass.
The bypass plan will feature new roads, service roads and overpasses.
Using the P3 model, it is anticipated that the bypass will take three and a half years to construct, with priority components opening in advance of the full bypass completion.
“This project is another excellent example of how the private sector can leverage greater value for public dollars and deliver infrastructure that will benefit Saskatchewan and create jobs and growth for Canadians. I am proud of our government’s ongoing commitment to developing new infrastructure, and I’m very pleased to support Saskatchewan’s choice to pursue a P3 as a better infrastructure solution,” said Gerry Ritz, minister of Agriculture and Agri-Food and MP for Battleford-Lloydminster in a statement.
He made the announcement on behalf of Finance Minister Joe Oliver.
The province of Saskatchewan will issue an request for qualifications later this month to identify private sector proponent teams.
The project will be delivered through a design, build, finance, operate and maintain model, with the maintenance component lasting 30 years.
“The Regina Bypass will help address some of the traffic issues we’ve seen on Dewdney Avenue, Victoria Avenue East and at the accesses to the communities on Highway 1, east of the city,” said Don McMorris, Saskatchewan’s minister of Highways and Infrastructure in a statement.
>The funding is subject to PPP Canada entering into a funding agreement with the government of Saskatchewan.
Recent Comments
comments for this post are closed