Infrastructure Ontario (IO) recently released their Spring 2014 Market Update. In it, they provided a detailed account of upcoming IO projects as well as other important items.
We estimate that the value of IO’s upcoming projects is at least $17.3 billion, though the true value is likely much higher as there are projects on their list for which a value has not yet been determined. Projects in the GTA account for nearly 75% of our estimated value, followed by 13% for Central Ontario.
The transportation sector will be home to the largest value of upcoming IO projects, consuming 66% of their amount. Important transportation projects include the Eglinton Crosstown LRT, the Highway 407 East – Phase 2 expansion as well as the Finch and Sheppard LRTs. Meanwhile, the largest number of projects in the pipeline is earmarked for the healthcare sector, headlined by the New Vaughan Hospital whose value is expected to exceed $1 billion. (For a full list of projects, see contact below)
Importantly, IO has pledged to start pilot projects to increase the participation of registered apprentices in construction on AFP projects. This of course is positive news for an industry that needs to help apprentices complete their program and obtain a Certificate of Qualification. Gaining experience on large institutional projects will ensure apprentices meet their on-the-job training obligations.
Furthermore, IO is endeavouring to assist Ontario companies working abroad. They are doing this through assessing opportunities in the United States, building relationships with the InterAmerican Development Bank and working together with Ontario’s international trade officers. Additionally, they have also touted the value of Ontario’s companies to a special panel of the United States Congressional Committee on Transportation and Infrastructure.
For a full list of upcoming projects, please contact :
Rishi Sondhi or Perry Chao
Construction Information Coordinator / Senior Policy Analyst
Ontario Construction Secretariat (OCS)
940 The East Mall, Suite 120, Etobicoke, ON M9B 6J7
P 416.620.5210 ext. 222 or 241
Provincial Government Announces Moving Forward
On April 14th, the Wynne Government announced Moving Forward, a plan that would make nearly $29 billion over ten years available for infrastructure in the Greater Toronto and Hamilton Area (GTHA) as well as across Ontario. The plan would entail creating two funds – one for the GTHA valued at up to $15 billion and one for nearly $14 billion for the remainder of Ontario. The GTHA fund will go towards the next group of Metrolinx’s Big Move projects, which includes a number of LRT, BRT, subway and GO Transit expansions across the GTHA. Outside the GTHA, this funding could be applied towards roads, bridges, transit and other critical infrastructure, including Ring of Fire infrastructure development. Additional details on the plan will be provided in the upcoming Budget, scheduled for May 1st.
FOR MORE INFORMATION, CONTACT:
Also check the website > www.iciconstruction.com