J. Robert S. Prichard told the Toronto Board of Trade Transportation Symposium that using a private partner to co-develop and operate the project “embraces the best current thinking on P3 projects”.
As part of this, he insisted that the scheme would not look to shift all the risks at the outset and will instead “co-develop the project while creating strong incentives for innovation and efficiency”.
Prichard added that the cost estimates and budget “will be refined through the co-development process and the government will make a final go/no go decision with that information in hand”.
The request for qualifications for the project is “well underway”, he said, with the tender having been published on February 17, 2023, and responses due by April 24.
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