April 16, 2013
(Introduction from PPP Partnership Bulletin)
After the federal government's 10-year pledge to support infrastructure development, Canada's P3 market is riding the crest of a wave. But the onus is now on the municipalities to procure the projects to re-ignite the pipeline, reports Dan Colombini.
Leading infrastructure and P3 partner Mark Bain was sought for comment by the Partnerships PPP Bulletin for its recent article on the increasing use of P3 work. In the article, Mark indicated that while provincial and federal P3 work has been growing over the last 20 years, municipalities are now turning to the P3 model more than ever before, and that “the framework is in place and there is a lot of experience at the provincial and federal level, which can be transferred to municipal projects.”
The article also discusses some of the challenges of introducing a potentially new project model into jurisdictions, including meeting investor expectations and establishing new work flows. Mark remarked that leadership and research are vital components to ensuring a successful execution of a P3-structured project.
“[municipalities] need to find the courage and determination to go down an unfamiliar route. For the most part, the municipal governments have an understanding of what their needs are, but before this, have not had the financial tools to get there. . .investors will want to see transaction certainty, and whether the municipalities have a champion who can carry a project through the voice of opposition and the expertise to execute a project in a way that is recognisable and financeable for the market,” Bain says.
Mark Bain will be speaking at PPP Bulletin’s Big 5 event on May 23. For details of the programme please click here.
Read the full article here (for subscribers only).