Alberta Schools PPP (Phase Two) Achieves Financial Close
Acted for B2L Partnerships in the Alberta Schools Project Phase II, a Public-Private Partnership (PPP) with the government of Alberta, to design, build, finance and maintain 10 state-of-the-art schools.
Matter Value: CAD 92,000,000
Thursday, 15 April 2010
On April 15, 2010, the Government of Alberta signed an agreement with B2L Partnership to design, build, finance and maintain 10 state-of-the-art schools in the province through a Design-Build-Finance-Maintain public-private partnership. The schools are scheduled to open in June 2012 and provide space for more than 7,900 students. B2L Partnership had the lowest bid price at $253 million. According to the Government of Alberta, this public-private partnership resulted in a savings of $105 million to the province compared to the cost of providing the same work through traditional delivery methods. This agreement represents part of the second phase of Alberta's programme for the alternative procurement of schools.
This deal was featured in the September 2010 issue of Lexpert, under its Biggest Deal section.
David Stratton, Q.C.