Infrastructure Ontario Looking to Expand its Services Beyond the Province
New proposed approach would help create jobs for Ontario’s construction industry and create new wealth for Ontario
BERLIN — Ontario's Government is working for the people to open access to foreign markets for Ontario job creators, attract foreign investors and generate income for the province.
To achieve this, the government intends to propose legislative changes that, if passed, would allow Infrastructure Ontario to act as a consultant advisor to markets outside of the province. The proposed expansion would help unlock opportunities and build the relationships necessary to open Ontario for business internationally.
"Infrastructure Ontario is a Crown agency that's known around the world for developing public-private partnerships that deliver complex infrastructure for the people of Ontario," said Monte McNaughton, Minister of Infrastructure. "Infrastructure Ontario is unique in its ability to successfully deliver these innovative projects."
Minister McNaughton made the announcement while speaking to an international audience of investors and potential clients at the 2019 Infrastructure Investor Global Summit in Berlin. The proposed expansion is in response to growing global interest in IO's expertise. IO is one of the most experienced agencies in the world to manage public-private infrastructure partnerships.
"Infrastructure Ontario is recognized internationally for its expertise in the public procurement and delivery of infrastructure and real estate," said Ehren Cory, President and CEO of Infrastructure Ontario. "We have hosted delegations from dozens of jurisdictions from around the world looking to learn from our exemplary track record. We look forward to this opportunity to continue to support others as they develop their own markets."
The new initiative will begin with two pilot projects. If they are successful, the government expects IO will take on new clients in the near future.
"Leveraging IO's skillset, for profit, beyond the province just makes sense," said McNaughton. "As a stable and thriving market, Ontario is a great place to invest. We are open and ready to conduct business with the world."
John M. Beck, Executive Chairman of Aecon Group, said: "We commend the Government of Ontario's strategic initiative to promote the province's expertise in P3 project delivery. This initiative will undoubtedly provide Ontario-based businesses with a competitive edge in key international markets."
- Infrastructure Ontario (IO) currently has 25 projects worth $18.4 billion under construction in Ontario; another 12 Ontario projects, worth nearly $7 billion, are in the planning stage.
- Seventy per cent of Infrastructure Ontario’s Public-Private Partnership (P3) projects are built on time and 95 per cent on budget.
- IO has completed more than 40 new or expanded health facilities, 10 courthouses and detention centres and 18 Ontario Provincial Police facilities.
- P3 Americas has named IO “Agency of the Year” for the past three years.