CCCPP lauds feds decision to use P3 model for new St. Lawrence bridge
January 17, 2014 by STAFF REPORT
The Canadian Council for Public-Private Partnerships (CCPPP) has put its stamp of approval on the federal govenerment’s decision to build the new St. Lawrence bridge through a public-private-partnership (P3).
The Government of Canada recently released the PricewaterhouseCoopers business case confirming that a P3 would be the most cost-effective way to deliver the project within an accelerated timeline.
The Champlain Bridge generates more than $20-billion annually in international trade and is a vital transportation artery for the province of Quebec and Canada.
“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 Montreal area,” said Mark Romoff, president and CEO of the CCPPP. “The project will also create thousands of jobs, stimulate the economy and provide long-term value to taxpayers.”
The P3 model has been used for 205 projects in the last 20 across Canada, with those in operation or under construction worth more than $60 billion.
Examples of successful P3 projects include bridges, roads, urban transit, hospitals, airports, schools, social housing, courthouses, detention centres, water and wastewater.
According to the CCPPP, 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.
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