The Canada P3 Fund will contribute CAD$22.9 million (US$22 million) towards the City of Hamilton Biosolids management PPP project.
The public-private partnership (P3) will transfer the cost of design, construction, operations and maintenance risks to a private partner, who will also be required to partially finance the facility.
Jim Flaherty, Minister of Finance and Minister responsible for PPP Canada, said:
Our government recognizes the significant savings P3s can offer taxpayers.P3s give municipalities like Hamilton the ability to hold the private sector accountable for the facilities they build, in addition to ensuring high-quality services for ratepayers.
The new facility will treat biosolids processed by the City's wastewater treatment system into a more safe and stable product capable of being marketed as a fertilizer or used to generate energy.
The $1.2 billion P3 Canada Fund was created in 2008 and replenished in the government's 2013 Economic Action Plan. The Fund supports meritorious projects that expand Canada's market for P3s. The Fund is managed by PPP Canada, a Crown corporation responsible for advancing Canadian P3s through the provision of expert advice and support to all levels of government.