Government of Ontario press release – The Ontario government is using the public-private partnership (P3) model to make historic infrastructure investments in civil, healthcare, and community safety across the province, that will benefit the people of Ontario now and for many years to come.
Today, the Honourable Laurie Scott, Minister of Infrastructure, released the 2019 Ontario P3 Market Update (also known as the P3 “Pipeline”). The 2019 P3 Market Update includes a list of 32 projects, worth more than $65 billion, representing a historic commitment to infrastructure expansion in Ontario. This is the largest commitment to P3 infrastructure in Ontario’s history.
“Our government has revealed a robust and diverse pipeline of projects that will improve, repair and build Ontario’s infrastructure,” said Scott. “Infrastructure is the backbone of our communities and these investments are critical to the future economic strength of this province. Our P3 model is recognized around the world for delivering projects on time and on budget and we look forward to working with new local and international partners to complete this historic pipeline of public infrastructure.”
The 2019 P3 Market Update includes the marquee 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.
Minister Scott also announced that going forward Ontario will increase the frequency of Market Updates. Major 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.
“Infrastructure Ontario is pleased to see the 2019 P3 Market Update released to our industry partners, so they can plan and dedicate the appropriate resources to future projects,” said Ehren Cory, President and CEO of IO. “Providing more information, on a consistent basis, to our prospective partners will promote stability and transparency in Ontario’s P3 market and ensure we remain global P3 leaders. We look forward to delivering the critical infrastructure projects on the 2019 P3 Market Update on behalf of the government.”
Earlier this year, the government announced new measures to attract more interest from international firms who are looking to participate in Ontario’s P3 market. Broadening the procurement process to more bidders will increase competition, drive innovation and get the best value for the people. The 2019 P3 Market Update is an important signal and invitation to the industry – big and small, local and international – to partner with the government to successfully deliver high-quality investments that will benefit all communities across the province.
- Ontario’s internationally renowned P3 model facilitates the building of partnerships with private sector market participants to fund and build new infrastructure. The P3 Market Update is a list of P3 projects (and their procurement timelines) to which Ontario has committed in the coming decade. It helps local and global potential private sector partners to organize their time and resources to make sure Ontario gets robust, innovative and competitive bids for its P3 infrastructure projects.
- 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.
- Projects included in the market update will generate thousands of jobs in the skilled trades as well as in the engineering, design and finance sectors.
- Ontario’s P3 model is an innovative way of financing and procuring large public infrastructure projects. It makes the best use of private-sector resources and expertise to provide on-time, on-budget and to-specification project delivery.
- IO’s P3 model is a home-grown success story that has garnered international attention and has made Ontario a global leader in infrastructure development. IO is recognized globally for completing projects on time and on budget.