Ontario’s Fall 2019 P3 Market Update
TORONTO, Ontario, September 10, 2019 - The Honourable Laurie Scott, Minister of Infrastructure, released the 2019 P3 Market Update, which includes a list of 32 projects, worth more than $65 billion.
The 2019 Market Update includes a total of 32 P3 projects, including 13 civil (such as transit, subways, highways), 16 healthcare and three community safety projects.
The Provincial government has committed $144 billion over the next 10 years. There is going to be an increased focus on public-private partnerships to deliver this infrastructure.
Most notable of the investment are the GTHA transit projects announced by the government earlier this year, including the Ontario Line subway, GO Transit expansion projects, the Scarborough Subway Extension (an extension of the TTC Line 2), the Yonge North Subway Extension (an extension of the TTC Line 1) and the westward extension of the Eglinton Crosstown LRT expected to cost $24.5 billion.
Minister Scott referenced Ontario’s P3 model as a world leader that delivers projects on time and on budget. Minister Scott relayed that the government wants to work with local and international partners to deliver these projects.
A key update was that, going forward, Ontario will increase the frequency of Market Updates. Updates in the spring and autumn will highlight new projects on the list as well as any changes to procurement timelines and delivery models. Minor updates in the summer and winter will show changes to procurement timelines only.
Infrastructure Ontario, a Crown agency overseen by the Minister of Infrastructure, is responsible for delivering projects under Ontario's P3 model.
The government announced a renewed focus on attracting more interest from international firms who are looking to participate in Ontario's P3 market, broadening the procurement process to more international bidders.