Government of Canada announces wind-down of PPP Canada Crown Corporation
OTTAWA, Nov. 3, 2017 /CNW/ - The Government of Canada is moving forward with its historic plan to invest in infrastructure, including leveraging private sector investment and know-how in order to build more infrastructure in communities across Canada.
PPP Canada was created 8 years ago to promote the adoption of the Public-Private Partnerships (P3) concept across Canada. Since its creation, PPP Canada has played a key role in establishing P3s as an effective way to ensure performance of infrastructure from design and planning, to long-term maintenance. P3s have since become widely used by different jurisdictions in Canada.
Given that PPP Canada has fulfilled its mandate and Canada has developed a strong P3 market, the Honourable Amarjeet Sohi, Minister of Infrastructure and Communities, today announced the Government of Canada's intention to dissolve PPP Canada.
PPP Canada operations are expected to cease by the end of 2017 with it being dissolved effective March 31, 2018.
Quotes
"PPP Canada has played an important role in developing the P3 market in Canada. With the P3 model now widely adopted across the country, PPP Canada has effectively fulfilled its mandate. Canada will continue to be a world leader in P3s and the Government of Canada continues to support the model as an effective way to build more infrastructure across Canada."
The Honourable Amarjeet Sohi, Minister of Infrastructure and Communities
Quick facts
- Across Canada, there are more than 250 P3 projects that are under construction or operational.
- PPP Canada has invested over $1.3 billion in 25 large or complex infrastructure projects across the country in a variety of asset classes. Of that, construction is completed for nine of them and they are in operation, and 16 remain under construction.
- These P3s have combined capital costs of over $6.6 billion and have resulted in savings of approximately $1.7 billion compared to traditional procurement approaches.
Associated links
Government of Canada's $180-billion+ Investing in Canada infrastructure plan
Twitter: @INFC_eng
Web: Infrastructure Canada
SOURCE Infrastructure Canada
For further information: Brook Simpson, Press Secretary, Office of the Minister of Infrastructure and Communities, 613-219-0149, [email protected]; Infrastructure Canada, 613-960-9251, Toll free: 1-877-250-715, [email protected]
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