New P3 Bridge Will Reinforce Canada's "Best-in-Class" Reputation
TORONTO, Jan. 16, 2014 /CNW/ - The announcement by The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Québec, that the new bridge for the St. Lawrence will be built as a public-private partnership recognizes the critical importance of the Champlain Bridge as a $20-billion annual trade corridor and vital transportation artery for Québec and Canada. The Government of Canada has released the PricewaterhouseCoopers (PwC) business case confirming that a P3 will provide the most cost-effective method to deliver the project within an accelerated timeline.
"CCPPP strongly endorses the government's decision to move ahead with the project using the P3 model and expediting the process, given the pressing need for a safe, reliable, world-class crossing for residents and businesses in the Montréal area," said Mark Romoff, President and CEO of The Canadian Council for Public-Private Partnerships (CCPPP). "The project will also create thousands of jobs, stimulate the economy and provide long-term value to taxpayers."
Over the last 20 years, jurisdictions across Canada have successfully used the P3 approach in 205 projects, with those in operation or under construction worth more than $60 billion: bridges, roads, urban transit, hospitals, airports, schools, social housing, courthouses, detention centres, water and wastewater. The vast majority of these projects have been delivered on time and on budget, generating significant cost savings for governments at all levels, while creating jobs and growing Canada's economic prosperity and global competitiveness. Governments around the world are looking to replicate the Canadian "gold standard" approach, creating opportunities for Canadian companies with P3 experience and expertise. The new bridge for the St. Lawrence promises to be yet another in Canada's long list of successes.
About The Canadian Council for Public-Private Partnerships: Established in 1993, CCPPP is a national not-for-profit 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
Image with caption: "Established in 1993, CCPPP is a national not-for-profit 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. (CNW Group/Canadian Council for Public-Private Partnerships)". Image available at: http://photos.newswire.ca/images/download/20140116_C9189_PHOTO_EN_35588.jpg