Edmonton, Alberta, October 10, 2012
Archived - P3 Canada Fund to Contribute to the Completion of the Edmonton Ring Road
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On behalf of the Honourable Jim Flaherty, Minister of Finance, the Honourable Tim Uppal, Minister of State (Democratic Reform) and Member of Parliament for Edmonton–Sherwood Park, today announced the Government of Canada's investment in a public-private partnership (P3) to support the construction of the North Saskatchewan River crossing, which is a critical component to the completion of the overall Northeast Anthony Henday Drive. The Minister was joined at the event by the Honourable Ric McIver, Minister of Transportation for Alberta.
Subject to entering into a financing agreement with the Government of Alberta, the Government of Canada will contribute up to $36.8 million through the P3 Canada Fund towards the construction of the North Saskatchewan River crossing. The contractor, Capital City Link General Partnership, will design, build, partially finance, and operate and maintain the project over a 34-year period. The first four years will be the construction phase.
"This project is an excellent example of how the private sector can leverage greater value for public dollars and deliver infrastructure that will benefit our community and create jobs and growth for Canadians," said Minister Uppal. "I am proud of our Government's work with our provincial colleagues to deliver this important piece of infrastructure, which will not only complete the Ring Road system, but will also provide a major river crossing, helping to alleviate traffic congestion and improving the flow of goods throughout the city."
"Anthony Henday Drive is a vital part of Alberta's provincial highway network, and it is essential that all levels of government collaborate to construct this important infrastructure," said Minister McIver. "I am pleased that the P3 Canada Fund will support Alberta's initiative to provide safe, accessible, free-flowing travel for Albertans and industry."
The North Saskatchewan River Bridge is part of the Northeast Anthony Henday Drive project. The construction of the bridge will help complete the final 27-kilometre segment of Edmonton's Ring Road system. Construction will include two new major bridge structures spanning the North Saskatchewan River between 130 Avenue and 153 Avenue in Northeast Edmonton.
Using Alberta's P3 model for highways allows the Northeast Anthony Henday Drive to be finished three years earlier than through conventional delivery. Including the Northeast section, the Alberta government has committed more than $4 billion toward the construction of the Edmonton Ring Road. Visit Alberta Transportation for more information on the Edmonton Ring Road.
PPP Canada was established by the Government of Canada to improve the delivery of public infrastructure by achieving better value, timeliness and accountability to taxpayers, through public-private partnerships. PPP Canada acts as a leading source on P3 matters through knowledge development and sharing. In addition, the Corporation provides expertise and advice in assessing and executing P3 opportunities at the federal level as well as leveraging greater value for money from federal investments in provincial, territorial, municipal and First Nations infrastructure through the P3 Canada Fund.
The P3 Canada Fund is a merit-based program with the objective of supporting P3 infrastructure projects that achieve value for Canadians, develop the Canadian P3 market and generate significant public benefits. For information on PPP Canada and the Government of Canada P3 Canada Fund investments visit PPP Canada.
For further information, media may contact:
Office of the Minister of Finance
Department of Finance
PPP Canada Media Inquiries: