{"id":12582,"date":"2023-04-06T15:45:11","date_gmt":"2023-04-06T15:45:11","guid":{"rendered":"https:\/\/ontarioconstructionreport.com\/?p=12582"},"modified":"2023-04-10T03:34:29","modified_gmt":"2023-04-10T03:34:29","slug":"io-market-update-highlights-construction-projects-worth-35-billion","status":"publish","type":"post","link":"https:\/\/ontarioconstructionreport.com\/io-market-update-highlights-construction-projects-worth-35-billion\/","title":{"rendered":"IO Market Update highlights construction projects worth $35 billion"},"content":{"rendered":"
Ontario Construction Report staff writer<\/p>\n
Infrastructure Ontario\u2019s first Market Update of 2023<\/a><\/span> highlights 38 projects in pre-procurement and active procurement totalling more than $35 billion in design and construction costs.<\/p>\n The March Update detailed progress since November 2022 and includes 16 government-announced projects in the initial stages of planning, for which scope, timing and delivery models are still being determined.<\/p>\n Three projects have advanced to partnership stages:<\/p>\n Also, procurements have launched within the past three months for:<\/p>\n The opening of the Highway 401 expansion through Mississauga and Milton was a highlight in the latest report, as well as reaching substantial completion of the New Toronto Courthouse.<\/p>\n The total value of contracts currently in construction across Ontario is about $45 billion, not including the additional contracted value to ensure the long-term operations and maintenance of assets on projects such as Metrolinx GO Rail expansions, maintenance of assets on projects such as Metrolinx GO Rail Expansion On-Corridor works.<\/p>\n \u201cThe construction sector around the globe is experiencing many changes and challenges,\u201d the report stated. \u201cIO is continuing to lead and execute through (and despite) challenging times.\u201d<\/p>\n To adapt to new realities, IO has:<\/p>\n \u201cAs we look forward, we now face escalating inflationary costs not seen in a generation. We have had to work closely with government to ensure that project cost estimates are appropriately updated. We continue to work with industry partners to manage any escalations during active procurements.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" Ontario Construction Report staff writer Infrastructure Ontario\u2019s first Market Update of 2023 highlights 38 projects in pre-procurement and active procurement totalling more than $35 billion in design and construction costs. The March Update detailed progress since November 2022 and includes 16 government-announced projects in the initial stages of planning, for which scope, timing and delivery […]<\/p>\n","protected":false},"author":14,"featured_media":12583,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[116,111,42,115,89],"tags":[],"class_list":{"0":"post-12582","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-around-the-province","8":"category-contractors","9":"category-featured","10":"category-government","11":"category-projectsopportunities"},"_links":{"self":[{"href":"https:\/\/ontarioconstructionreport.com\/wp-json\/wp\/v2\/posts\/12582"}],"collection":[{"href":"https:\/\/ontarioconstructionreport.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ontarioconstructionreport.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ontarioconstructionreport.com\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/ontarioconstructionreport.com\/wp-json\/wp\/v2\/comments?post=12582"}],"version-history":[{"count":2,"href":"https:\/\/ontarioconstructionreport.com\/wp-json\/wp\/v2\/posts\/12582\/revisions"}],"predecessor-version":[{"id":12601,"href":"https:\/\/ontarioconstructionreport.com\/wp-json\/wp\/v2\/posts\/12582\/revisions\/12601"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ontarioconstructionreport.com\/wp-json\/wp\/v2\/media\/12583"}],"wp:attachment":[{"href":"https:\/\/ontarioconstructionreport.com\/wp-json\/wp\/v2\/media?parent=12582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ontarioconstructionreport.com\/wp-json\/wp\/v2\/categories?post=12582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ontarioconstructionreport.com\/wp-json\/wp\/v2\/tags?post=12582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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