The Saskatchewan government says the province is saving $100 million by using a P3 model to build 18 new schools in the province.
According to a media release, the cost to build and maintain the schools would have been $735 million. However, a 13 per cent savings has been determined by independent financial experts working on behalf of SaskBuilds.
“By using a P3 the government will save $100 million including construction, financing, and long-term maintenance to ensure the schools will be maintained in like-new condition over three decades,” the release stated.
The 18 schools being built in Saskatoon, Regina, Warman and Martensville are expected to be done by September 2017. Approximately $34.5 million will be saved in construction costs in building the nine joint-use sites.
“These schools will stay in better condition, be finished faster, and cost millions less than if the government did this project without a public-private partnership,” SaskBuilds Minister Gordon Wyant said in the release.