IO releases latest P3 Market Update
Infrastructure Ontario (IO) released its latest P3 Market Update document on December 10.
The year’s fourth quarterly update confirms many of the details presented in the September document, add adds detail to a handful of projects’ procurement schedules. It lists 40 projects—16 civil and 24 social—in procurement or pre-procurement stages, valued at a total of more than $60 billion.
"Today's P3 Market Update provides an update on our government's ongoing commitment to key infrastructure projects including subways, health care, highways and community safety projects," said Infrastructure Minister Laurie Scott. "Our infrastructure investments, especially those included in the pipeline, support local jobs and community improvement by contributing to the growth, renewal and long-term economic recovery of the province."
There are no new additions to the December market update, but a handful of projects’ statuses have changed—either by moving into new phases of procurement or by updating procurement information or estimated costs. Specifically,
- the request for qualifications for the Hamilton Health Sciences – West Lincoln Memorial Hospital project was issued in November 2020,
- the QEW Credit River Bridge will reach financial close this month,
- the Request for Proposals for the Ontario Line – Rolling Stock, Systems, Operations and Maintenance and Southern Civil, Stations and Tunnel packages, will be issued this month,
- the Thunder Bay Correctional Complex will reach financial close in 2022, and
- the Request for Proposal for Grandview Children's Treatment Centre has moved to March 2021, and financial close has moved to winter 2022.
The December 2020 update also lists a new category of projects being delivered under the province’s Rapid Procurement and Delivery model. IO is working with ministries and other broader public sector partners to help deliver vital infrastructure—smarter, better and faster than traditional methods. Under that category, procurement of the Solicitor General—Segregation Capital Program in Kenora began in November 2020 and will close in March 2021.
IO also worked with the Ministry of Long-Term Care during the past summer to successfully procure the rapid delivery of four new long-term care facilities using a modified construction management model.