October 24, 2012
Saskatchewan includes P3s in new policy initiative
The Saskatchewan Government is launching a new economic policy initiative called Saskbuilds, which promotes the use of public-private partnerships (P3)as a method for the finance, design, construction and operation of major infrastructure projects.
“I think the new P3 partnership initiative is good,” said Michael Fougere, president of the Saskatchewan Construction Association.
“This will release both municipal and federal funds for infrastructure, which will benefit the construction industry and the province. In order to access the federal P3 account, the province must have P3s.”
Saskatchewan Premier Brad Wall released the Saskatchewan Plan for Growth on Oct. 16.
It outlines a plan for investment in infrastructure that will meet the needs of a growing population, which could reach 1.2 million people by 2020.
“Saskbuilds will look at innovative and creative ways of financing our infrastructure needs,” said Karen Low, executive director of Merit Contractors Association Saskatchewan.
“With the recent economic boom and increase in population, our need for infrastructure has grown and will require a sizable outlay from the provincial government if we want to complete all these projects.”
Wall said the government will invest at least $2.5 billion in infrastructure over the next three provincial budgets, which includes an immediate commitment of $150 million from the province’s Growth and Financial Security Fund.
“This new funding will be used to develop partnerships with other levels of government and the private sector,” he said.
“Our government will work with Saskatchewan municipalities to develop a municipal infrastructure program funded through SaskBuilds. When used as a base for P3s, this initial $150 million will leverage hundreds of millions more for SaskBuilds infrastructure projects.”
The new initiative aims to increase planning at the provincial, regional and municipal levels to ensure infrastructure investments are co-ordinated and aligned with the growth of the population and the economy.
“The government is showing real foresight with this initiative because it realizes the need to think forward, instead of reacting to what is happening today,” said Low. “They are developing a business case and setting goals.”
Saskbuilds is designed to achieve this objective through municipal revenue sharing and a future Federal-Provincial-Municipal Infrastructure Agreement.
“This is something that is already being used in Alberta and B.C.,” said Terry Parker, business manager with the Saskatchewan Provincial Building and Construction Trades Council. “This was expected, so we aren’t surprised. We are currently reviewing our position regarding the use of P3s in the province.”
The province’s population has increased by nearly 80,000 people over the past five years.
|MOST POPULAR STORIES|
|TODAY’S TOP CONSTRUCTION PROJECTS|
These projects have been selected from 544 projects with a total value of $1,665,691,502 that Reed Construction Data Building Reports reported on Tuesday.
$100,000,000 Province of Alberta AB Prebid
$92,000,000 Vancouver BC Tenders
$60,000,000 Medicine Hat AB Tenders
- ERCB investigates Zama City, Alta pipeline spill
- Crystal Clear
- Regina looking to annex adjacent land
- Pipeline oil spill highlighted during twinning debate
- Consulting engineers gathering in Lake Louise, Alberta
- Biased specs grounds for RFP redraft
- Incoming chair looks to the future
- Foreign worker court case led to reforms
- Shell Canada gets approvals for pipelines and gas well
- B.C. building permits rise, but Alberta declines
- Electronic migration
- Unauthorized water system shut down in Alberta
- Ontario’s best steel designs recognized
- ACEC conference to focus on economic solutions
- Improper bypass of low bidder found
- CISC awards honours individual achievements
- Quebec construction workers on strike after failed negotiations
- Newfoundland and Labrador set to lead the way in economic growth
- Construction industry to increase hiring in 2013, according to outlook
- OCOT review panel proposing a ratio reduction for plumbers and steamfitters
- Man fined in construction site death of 12 year old Nova Scotia boy
|ALEX’S ECONOMICS BLOG|
Reed Construction Data Canada’s Chief Economist Alex Carrick discusses current developments in the North American economic environment with emphasis on the construction industry.
- An Overview of Prices and Sales in the Diverging U.S. and Canadian Housing Markets (April 25, 2013)
- Canada’s Precarious Dependence on the Commodity Price Super-Cycle (April 22, 2013)
- Twenty major upcoming residential and transportation terminal construction projects - April 2013 (April 15, 2013)