Infrastructure Ontario reaching beyond its bordersCompanies & People Infrastructure Ontario P3
The Crown agency is known around the world for developing successful public-private partnership (P3) projects.
The Government of Ontario has announced that it intends to propose legislative changes that would allow Infrastructure Ontario (IO) to act as a consultant advisor to markets outside of the province. The announcement was made by Monte McNaughton, Minister of Infrastructure, while speaking to an international audience of investors and potential clients at the 2019 Infrastructure Investor Global Summit in Berlin, Germany.
“Infrastructure Ontario is a Crown agency that’s known around the world for developing public-private partnerships that deliver complex infrastructure for the people of Ontario,” said McNaughton in a media release from the province. “Infrastructure Ontario is unique in its ability to successfully deliver these innovative projects.”
Infrastructure Ontario is one of the most experienced agencies in the world to manage public-private (P3) infrastructure partnerships. P3 Americas has named IO “Agency of the Year” for the past three years..
“Infrastructure Ontario is recognized internationally for its expertise in the public procurement and delivery of infrastructure and real estate,” said Ehren Cory, President and CEO of Infrastructure Ontario, in the release. “We have hosted delegations from dozens of jurisdictions from around the world looking to learn from our exemplary track record. We look forward to this opportunity to continue to support others as they develop their own markets.”
The new initiative will begin with two pilot projects. If they are successful, the government expects IO will take on new clients in the near future.
“Leveraging IO’s skillset, for profit, beyond the province just makes sense,” said McNaughton. “As a stable and thriving market, Ontario is a great place to invest. We are open and ready to conduct business with the world.”
John M. Beck, Executive Chairman of Aecon Group, said: “We commend the Government of Ontario’s strategic initiative to promote the province’s expertise in P3 project delivery. This initiative will undoubtedly provide Ontario-based businesses with a competitive edge in key international markets.”
Infrastructure Ontario currently has 25 projects worth $18.4 billion under construction in Ontario; another 12 Ontario projects, worth nearly $7 billion, are in the planning stage.
According to IO, 70% of its P3 projects are built on time and 95% on budget.
IO has completed more than 40 new or expanded health facilities, 10 courthouses and detention centres and 18 Ontario Provincial Police facilities.
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