REGINA, Jan. 28, 2016 /CNW/ - Saskatchewan is one of the most active public-private partnership (P3) markets in Canada. It has quickly developed nine projects at the provincial and municipal level in a variety of sectors.
The Honourable Dustin Duncan told a Regina gathering sponsored by the Canadian Council for Public-Private Partnerships (CCPPP): "All of (Saskatchewan's) P3 projects are running on time and on budget." The minister noted that the Saskatchewan P3s "are more effective at managing risks" and that means savings to taxpayers.
The province of Saskatchewan and the cities of Regina and Saskatoon have procured several projects through the P3 model, which have demonstrated hundreds of millions of dollars in savings and have innovatively addressed the needs of the community.
Kyle Toffan, Vice President of EY says the P3 model provides budgeting "certainty" for the public sector when the risks associated with delivery schedules and budgets are assumed by the private sector partners over the life of the asset.
"Integrating full life cycle of these P3 assets really drives savings," says Toffan.
Regina Mayor Michael Fougere says "The private partners (in P3s) bring a discipline to projects that the public sector doesn't have." Mayor Fougere emphasized that P3s aren't always suitable for smaller municipal projects but when used properly they save taxpayers money.
The CCPPP seminar – Reaping the Benefits of P3s – highlighted a value for money discussion and explored ways for local contractors to get involved in large and complex P3 projects.
"This is a timely and important discussion for jurisdictions across Canada," says CCPPP President and CEO Mark Romoff. "Public-private partnerships and infrastructure investment are hot topics on the political agenda across the country and we feel it's important that Canadians and decision makers are armed with the best information possible about the benefits of P3s."
About the Canadian Council for Public-Private Partnerships: Established in 1993, CCPPP is a national, non-partisan, member-based organization with broad representation from across the public and private sectors. Its mission is to promote innovative approaches to infrastructure development and service delivery through public-private partnerships with all levels of government. The Council is a proponent of evidence-based public policy in support of P3s, facilitates the adoption of international best practices, and educates stakeholders and the community on the economic and social benefits of public-private partnerships.
SOURCE Canadian Council for Public-Private Partnerships
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