REGINA – The province said its first public-private partnership (P3) development is on time, on budget, and will actually save more than 16 million dollars.
“I think these results that you’ve seen today (Tuesday), from this report demonstrate that this particular project being built in a P3 model does deliver to tax payer,” said Justice Minister Gordon Wyant.
Wyant released a Value For Money Report Tuesday, and said that the long-term care centre in Swift Current will save 13 per cent under the P3 model compared to a traditional model.
He credits that to seven million dollars saved on construction and another 10 million as a result of a risk transfer.
However, Trent Wotherspoon with the NDP said it’s a bit premature for the government to be touting money saved.
“This government can pretend what they want but they need to pull their heads out of the sand and learn what other jurisdictions have about P3’s,” he said. “They cost way more and they are full of risks.”
Wotherspoon cited Ontario’s auditor general who he said has already weighed in on the flaws of P3 costs in Ontario.
Wyant said the process in Saskatchewan offers a detailed risk assessment and is distinct from other p3 practices across Canada.
The new facility will house 225 residents and replace three aging centres.
Construction has been underway for around seven months and is expected to be complete by next spring.
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