Infrastructure Ontario has released its second Market Update for 2022, which includes 38 projects, with 26 projects in pre-procurement and 12 in active procurement. The list also includes 17 additional government-announced projects in early stages of planning and determining the project’s scope, timing and delivery model.
“The past two years have been unprecedented in the challenges faced across Ontario and around the world in response to the global pandemic,” said Michael Lindsay president and CEO Infrastructure Ontario. “Our work with industry partners has required a resilience and level of collaboration that is equally unprecedented. Infrastructure Ontario thanks its partners for helping to advance the largest, most complex public projects amidst so much adversity.
“As we look forward, we now face escalating costs not seen in a generation. We have had to work closely with government to ensure that project cost estimates are appropriately updated. We continue to work with industry partners to deal with escalations during active procurements. We take very seriously our role in ensuring that government has a clear expectation of cost for a given project, and a confidence that they are achieving value for money. We also take very seriously our commitment to the market to maintain a dependable pipeline which is appropriately staged to maximize opportunity and competition. This year continues to demonstrate our unwavering focus on progress and delivering on our commitments.”
Featured image: The Trillium Health Partners Broader Redevelopment – Mississauga Hospital Site project. (Infrastructure Ontario)