Infrastructure Ontario released its November 2022 Market Update, providing details related to 39 projects in pre-procurement and procurement (totalling more than $35 billion in estimated design and construction costs).
“We have been relentless in bringing projects to market and refreshing the pipeline while considering new government priorities,” said Michael Lindsay, CEO, Infrastructure Ontario. “Continuing to deliver on the government’s historic commitments means continuously improving upon and evolving how we attract the best companies to compete for our work and deliver great projects on behalf of the government and people of Ontario.”
IO’s third update for 2022 lists 26 projects in pre-procurement and 13 projects in active procurement, amounting to an estimated $35 billion in design and construction costs. The list also includes 16 additional projects in the early planning stages, for which the scope, timing, and delivery model are still being determined.
“Our progress has also resulted in some of the largest of our contracts proceeding from procurement into the construction stage,” added Lindsay. “This includes the recently announced financial closes for the two largest Ontario Line contracts. Earlier this year, both the West Lincoln Memorial Hospital and the Thunder Bay Correctional Complex also moved from procurement into the construction stage. The contracts currently in construction are
valued at approximately $41 billion, not including the additional contracted value to ensure the long-term operations and maintenance of assets on projects such as the Metrolinx GO Rail Expansion On-Corridor works.
Highlights from the November 2022 IO Market Update include:
- Public Works – Ontario Place Site Servicing – now in pre-procurement
- Education – Education Rapid Builds Program – now in pre procurement
- Justice – OPP Modernization Phase 3 – now in planning
- Ontario Line North segment: Elevated Guideway and Stations; and Pape Tunnel and Underground Stations – now both in active procurement
“Our government is continuing to get the job done through our partnership and collaboration with the construction sector,” said Kinga Surma, Minister of Infrastructure. “We will keep engaging with key stakeholders to understand the current economic environment and identify solutions to overcome challenges and help us continue to build on our successes.”
Featured image: The Infrastructure Ontario November 2022 Market Update announced financial closes for the two largest Ontario Line contracts. (Metrolinx)
