P3 Canada Fund invests $10m in Alberta water facility

Alberta has tapped the $1.21bn P3 Canada Fund for a project aimed at upgrading the Evan-Thomas Water and Wastewater Treatment Facility.

A C$9.95 million (€7.3 million; $10 million) investment from the P3 Canada Fund will help finance the Evan-Thomas Water and Wastewater Treatment Facility project in Alberta, according to a statement from PPP Canada.

The P3 Canada Fund is a C$1.2 billion vehicle launched in 2009 by PPP Canada, a federal government organisation dedicated to public-private partnership (PPP) investment and policy.

The Evan-Thomas project is the latest to underscore the importance Canada has put on using the PPP model as a solution for infrastructure.

Using capital from P3 Canada, a province can initiate a PPP like the Kananaskis County, Alberta-based Evan-Thomas site – a facility dating back to the 1980s – to help upgrade what PPP Canada called its “aging infrastructure”.

In a statement, Alberta Infrastructure (AI), the local Alberta government agency, boasted a successful revamp of the facility could serve as a “template” for renovating water and wastewater infrastructure across Canada.

The province has claimed a proven track record for having used the PPP model to improve roadwork.  

Alberta Infrastructure is expecting its prospective partner will design, construct and provide partial financing for Evans-Thomas, as well as maintain the facility for a decade after construction has been completed.

Formed in 2009, PPP Canada is headed by minister of finance Jim Flaherty, the recipient of Infrastructure Investor’s 2011 Minister of the Year award.