LATEST NEWS 
December 27, 2006
Partnership BC wants standard P3 documents
VANCOUVER
Partnerships BC Chief Executive Officer Larry Blain said he wants to “standardize the documents” used in private public partnership (P3) deals so that there is general agreement “behind the words” of documents coming from various B.C. ministries.
The move to standardize documents was on a shopping list of 2007 objectives Blain outlined for those attending a recent Vancouver Board of Trade session of global economy with P3 deals now a global trend to achieve infrastructure in 30 countries around the world.
Blain said he also wanted to see a “consistent deal flow” which ensured the deals moved smoothly through government in as consistent a manner as possible. He also favoured more bundling of projects.
“I’d like to do more of this,” he said, as project benefits can be realized in design, construction and procurement efficiencies.
(Partnerships BC used bundling successful to achieve cost efficiencies in delivering more than one health care facility in a region.).
He said his corporation continues to build a database of projects and “best practice” in 2007 that can be used to bring projects in on time and budget. And, continues its market research to ensure the projects that are undertaken as P3 fit the profile of those that will work.
He estimated in 10 years downstream, there will still not be more than 25 per cent of projects that qualify as P3.
Larger capital projects, where there is risk, and that can benefit from innovation and competition are ideal, he suggest.
The lesser the value of a project there is less of a prospect for achieving value for the dollar, he said.
Large scale $1 billion projects such as the Gateway Project, which would see the twinning of the Port Mann Bridge, was once considered beyond the scope of P3 only three years ago.
However, today there are investors actively seeking partnership information, he told delegates.
“Big is getting smaller,” he said, adding he doesn’t rule out smaller projects — and Partnership BC has handled them as low as $27 million.
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