Say you were going to do a bridge and you were going to do it in the traditional mode. You would have to hire an engineering firm to design the bridge, and they would make a profit on that.
A P3 doesn't change the contractual relationships and what they'd make as profit. If you were going to then hire PCL or EllisDon or Strait Crossing to construct the bridge, there would be a profit margin in that. If you were going to hire somebody to operate the bridge, there would be a profit margin in that.
By putting the pieces together, they actually optimize costs. What are the profit margins companies charge in terms of their contractual relationships? Even within the consortium, they have contractual relationships with each other. What is the incremental cost of the finance? Spreads on the debt component, which are usually about 90% of the financing, are around 200 basis points over what governments could borrow. There is a cost to the long-term financing.