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Published on : Saturday, November 9, 2013
The Honourable Lisa Raitt, Minister of Transport today confirmed how Canadian municipalities stand to benefit from the Government of Canada’s new infrastructure investments and its commitment to public-private partnership financing arrangements, at the 21st Annual Canadian Council for Public-Private Partnerships Conference.
“Our government is pleased to provide support to Canadian infrastructure priorities by encouraging the use of public-private partnership financing arrangements,” said Minister Raitt. “In our 2013 Economic Action Plan, we delivered a record investment in infrastructure funding — the longest and largest commitment in Canadian history — and it is our commitment to ensure that Canadians get the best value for their hard-earned tax dollars. When an infrastructure project can generate better value for money by being delivered through a P3, it should be delivered as a P3.”
Economic Action Plan 2013 builds on the Government of Canada’s investments and includes the $53-billion New Building Canada Plan to build roads, bridges, subways, commuter rail, and other public infrastructure in cooperation with provinces, territories, and municipalities over 10 years, starting in 2014-15. Combined with other federal infrastructure investments, the Government of Canada will invest $70 billion in federal infrastructure funding over 10 years across Canada — the largest federal investment in job-creating infrastructure in Canadian history.
The Government of Canada will be using P3 financing arrangements to fund the Detroit River International Crossing in Windsor and the new bridge for the St. Lawrence to replace the existing Champlain Bridge in Montreal. These projects will help strengthen the Canadian P3 market and provide showcase projects that demonstrate the value of public-private partnerships.
Source:- Transport Canada