Projects & Infrastructure
Ontario releases update on P3 infrastructure projects
October 18, 2021 By Crane & Hoist Canada Staff
Infrastructure Ontario (IO) has released its third market update for 2021, outlining the status of 38 projects using the public-private partnership (P3) model.
Twenty-three of those projects are in pre-procurement and 15 are in active procurement, totalling an estimated $60 billion in contract value.
The list also includes 13 additional government-announced projects in early stages of planning and determining project scope, timing and delivery model.
The P3 procurement strategy fosters collaboration between the owner and its contracting partner.
During the early, design phase of the project, both sides work together to define project requirements, including design, pricing and risk, before entering into a final project agreement.
The progressive approach ensures price certainty and helps to lower financial risks for all parties.
Highlights from the latest P3 Market Update include:
- Unity Health – St. Joseph’s Health Centre Redevelopment is new to pre-procurement
- Kingston Health Sciences Centre – Kingston General Hospital Redevelopment moved to active procurement
- Trillium Health Partners Broader Redevelopment – Queensway Health Centre moved to active procurement
- Scarborough Subway – Stations, rail and systems moved to active procurement
Read the Infrastructure Ontario Fall 2021 Market Update here.
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