Following the release of the project’s Value for Money Report, prepared by EY, the firm supported claims from the province that the deal had made savings of just over 16%.
A total investment of $1.88bn is to be made in the highway, including the cost of design, construction, finance, and more than 30 years of operations and maintenance. The report confirmed that the same project would have cost $2.2bn if it was delivered through a traditional approach.
“This report confirms what our government has said many times – that a P3 was the right decision for this project,” SaskBuilds Minister Gordon Wyant said. “In addition to the savings identified by EY, a P3 is the fastest way to build the Bypass and will ensure it’s done on-time and on-budget.”
The deal with private team the Regina Bypass Partners was signed in August, with the project now due for completion in 2019.
To view the report in full, click here.