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Ontario and IO release Spring P3 market update with 37 projects

Ontario and IO release Spring P3 market update with 37 projects

TORONTO — The Ontario government is moving forward with 37 major infrastructure projects using the public-private partnership (P3) model, according to the Spring 2020 P3 Market Update.

Ontario Infrastructure Minister Laurie Scott and Infrastructure Ontario president and CEO Ehren Cory presented the update online June 18 in an event hosted by the Canadian Council for Public-Private Partnerships. It featured a list of public projects in the pre-procurement and procurement stages for which Ontario has committed funding to.

The update was meant to inform potential local and global private sector partners and ensure Ontario gets robust, innovative and competitive bids for its P3 infrastructure projects, indicates a release.

The 37 P3 projects in the pipeline include 17 civil, such as transit, subways, highways; 16 health care; three community safety; and one children’s treatment centre, with 24 currently in procurement. Another 13 projects are in the pre-transaction phase. In addition, 13 projects are currently included in the planning phase.

“The message today is clear, our government is moving from shovel-ready to shovels in the ground,” said Scott in a statement. “The P3 Market Update signals to the infrastructure sector that Ontario remains committed to major infrastructure projects including subways, highways, health care and community safety projects. This is stimulus that will create jobs and contribute to the economic recovery of our province.”

The government committed to providing four infrastructure updates annually, with the next update planned for this summer, and a more comprehensive update planned for the fall, the release states.

“This spring’s update is an important reassurance to industry and the people of Ontario,” said Cory. “It is important to provide as much certainty as possible to our industry partners regarding the province’s commitment to the many P3 projects in planning and procurement.”

The Daily Commercial News will have more on this story in an upcoming article.

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