P3 model saves Regina Bypass project $380M: Study
November 24, 2015 by On-Site Magazine
Using a P3 model to build the Regina Bypass will save the Saskatchewan government $380 million, according to a new Ernst & Young study released this week.
A total investment of $1.88 billion (in today’s dollars) is being made in the highway including the cost of design, construction, finance, and more than 30 years of operations and maintenance to ensure the roadway remains in like-new condition. Ernst & Young confirmed the same project would have cost $2.2 billion if it was delivered through a traditional approach.
“This report confirms what our government has said many times – that a P3 was the right decision for this project,” SaskBuilds Minister Gordon Wyant said. “In addition to the savings identified by Ernst & Young, a P3 is the fastest way to build the Bypass and will ensure it’s done on-time and on-budget.”
Regina Bypass Partners (formerly Sasklink Global Transportation Partners) was selected to partner with the Ministry of Highways and Infrastructure to build the bypass after completing a two-staged transparent and competitive process.
The design-build team includes: Parsons, Graham Construction, VINCI, Carmacks, GraCorp Capital, McElhanney, Urban Systems, Buckland and Taylor, Exp, Clifton Assoc., Delcan