Ontario Government Releases Winter 2020 P3 Market Update
The Ontario government is using the public-private partnership (P3) model to make major infrastructure investments in projects across the province.
In September 2019, Minister of Infrastructure Laurie Scott committed to increasing the frequency of P3 Market Updates (known in the market as updates to the "P3 Pipeline"). "Major" updates in the spring and autumn will list new projects to be delivered using the P3 model, as well as revised procurement timelines. "Minor" updates in the winter and summer will not introduce new projects to the list but will provide the market with revised procurement timelines and project status updates.
"We know that our private sector partners in the infrastructure industry rely on the P3 Market Update to marshal their resources and organize their teams to deliver projects critical to the lives of people of Ontario," said Minister Scott. "I look forward to working with them to build new hospitals, roads, courthouses and transit systems."
Today, Ontario released the Winter 2020 P3 Market Update. Changes reflected in the Market Update include:
- Grandview Children's Treatment Centre has advanced from planning to pre-procurement;
- As previously announced, the GO Expansion: Union Station Upgrade - Platform Expansion project now shows the project will be delivered using the "Alliance" model; and,
- There are procurement timeline updates to four projects.
Changes to the P3 Pipeline are highlighted in accordance with the colour coding scheme shown at the bottom of the first page of the Market Update.
The next update will occur following the provincial budget this Spring. "I look forward to the release of the Spring 2020 P3 Market Update, which will contain new P3 projects to be delivered across the province," said Minister Scott.
The public-private partnership (P3) model is part of the government's plan to build new infrastructure including transit, highways, schools and hospitals faster, improve productivity and help businesses get goods to markets.
- The P3 Market Update is a list of P3 projects to which Ontario has committed in the coming decade. The list helps potential local and global private sector partners organize their time and resources to make sure Ontario gets robust, innovative and competitive bids for its P3 infrastructure projects.
- The 2019 Market Update was the largest commitment to P3 infrastructure in Ontario’s history and included the marquee GTHA transit projects: the Ontario Line subway, 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.
- Projects included in the market update will generate thousands of jobs in the skilled trades as well as in engineering, design and finance sectors.