The latest edition of Infrastructure Ontario’s (IO) latest P3 Market Update report lists more than 30 projects in pre- and active procurement stages, worth a combined more-than $35 billion.

The report, which was released on December 5, provides a handful of key updates from its March predecessor.

Notably, three projects have advanced to the construction stage, while three others have been added in the justice, tourism and culture sectors, including the controversial relocation of Ontario Place.

Three other projects have achieved substantial completion: the GO Expansion — Stouffville Corridor, the Highway 401 Expansion, and the West Park Healthcare Centre.

The list also includes 20 government-announced projects in the initial stages of planning, for which scope, timing and delivery model are still being determined.

“This update reinforces the relentless progress IO and its partners continue to make, despite the significant challenges facing our industry around the globe,” said Infrastructure Ontario CEO, Michael Lindsay. “Since 2020, IO has brought 30 projects to market, began construction on 24 projects and achieved substantial completion of 30 projects. In just the last four years, we have completed eleven hospitals, six justice facilities, and ten transit and transportation projects. We saw excellent competition in all but one or two of our largest hospital projects during this tumultuous time. The total value of contracts currently in construction is approximately $43 billion, not including the three Progressive P3 hospital projects in Mississauga, Ottawa, and Moosonee for which we have now identified a development partner.”

“Our track record of success is crucial in maintaining the confidence of taxpayers and decisionmakers. We do that by delivering projects on budget and on schedule well above industry standards. As of March 2023, IO had brought 80 projects to substantial completion since the inception of its capital delivery program almost 20 years ago. More than two-thirds of those projects (68 percent) have been completed on schedule and 94 percent have been completed on budget.”