P3 Market Update highlights 38 projects valued at an estimated $60 billion

0
478

Ontario Construction News staff writer

The Ontario government has released the latest P3 Market Update in June, highlighting 38 major infrastructure projects using the public-private partnerships (P3) model and valued at an estimated $60 billion.

“The P3 Market Update demonstrates our government’s commitment to investing in key infrastructure projects that support economic growth, community improvements and local job creation,” said Laurie Scott, minister of infrastructure.

“Our infrastructure investments in health care, highways and other community safety projects, especially those included in this Market Update, contribute to Ontario’s economic renewal and long-term recovery.”

The P3 Market Update, released four times a year, is a list of public projects in the pre-procurement and procurement stages for which Ontario has committed investments.

The list helps potential local and global private-sector partners organize their time and resources to make sure Ontario gets robust, innovative and competitive bids for its P3 infrastructure projects.

Highlights:

  • Hamilton LRT was added to Projects in Planning
  • MECP Science Complex was added to Projects in Planning
  • Brampton Courthouse Addition Phase 2 & Toronto Region Bail Centre is now in the construction stage, following financial close earlier this month
  • Advance Tunnel for Scarborough Subway Extension and Advance Tunnel for Eglinton Crosstown West Extension are now in the construction stage, following financial close earlier this month.

“With two subway tunneling projects for the subways program closing since our April Market Update, and major healthcare projects progressing, IO continues to deliver on the government’s infrastructure priorities,” says Michael Lindsay, President & CEO of Infrastructure Ontario.

The June 2021 P3 Market Update includes a total of 38 projects in planning, including 26 in pre-procurement and 12 in active procurement. An additional 14 projects that are not included in the 38 projects or its contract value, are currently in the planning phase.

The April 2021 P3 Market Update outlines investments valued at an estimated $60 billion in P3 projects across Ontario.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.