PPP Canada announced today that it is accepting applications under Round Six of the renewed P3 Canada Fund through its new website. The Fund is a merit-based program that supports public-private partnerships (P3s) that develop public infrastructure across a number of eligible categories. Its primary focus is on assisting jurisdictions to build P3 experience and promoting innovative applications of the P3 model.
Round Six is the first Round under the renewed P3 Canada Fund. Economic Action Plan 2013 provided an additional $1.2 billion over five years, beginning April 1, 2014.
The initial five year, $1.2 billion P3 Canada Fund was launched in 2009. PPP Canada has fully committed the initial Fund to projects across the country with combined capital costs in excess of $6 billion. Savings to taxpayers from undertaking these projects as P3s are estimated to be over $800 million, compared against traditional procurement.
“Over the past five years, we have helped new jurisdictions across Canada bring a mix of large, medium and small P3s to the Canadian market,” said John McBride, CEO of PPP Canada. “Through Round Six, we will continue to build experience through new jurisdictions, new sectors, and new approaches.”
In Round Six, PPP Canada will give priority to public infrastructure projects in the following priority areas: transportation; water/wastewater; and solid waste disposal. In addition, PPP Canada will give priority to projects that maximize private sector involvement.
PPP Canada works with other levels of government to promote the effective use of P3s through P3 knowledge sharing, capacity building and the strategic use of the P3 Canada Fund. By offering advice and expertise to its clients, PPP Canada ensures proper due diligence across all stages of the project development life cycle. The result is a well-structured procurement that is well planned and follows best practices ensuring transparency, fairness and competitiveness.