Good morning, everyone. I'd like to thank you for inviting us to participate. I will keep our remarks within the time limit allotted.
To provide some background, Partnerships BC is a company owned by the Province of British Columbia. It's governed by a board of directors, and our sole shareholder is the Minister of Finance. We were established 10 years ago.
Partnerships BC, with the Province of British Columbia, has a 10-year record of planning, delivery, and oversight of more than 30 major infrastructure projects in transportation, rapid transit, health, corrections, education, energy, and recently, housing. The value of these projects is over $12.5 billion, with about $5.5 billion in private financing. All of these projects have been delivered, the ones that have been completed, on time and on budget.
We were established 10 years ago to provide the provincial government with a central agency that had both the commercial and procurement expertise to implement these projects using alternative procurement approaches. The goal was to provide certainty in the delivery of these projects in the areas of schedules and budget and to address life-cycle and deferred maintenance issues.
The majority of our projects have been delivered using the design-build, finance, maintain, or operate approach. B.C. also uses design-build. It uses design-bid-build construction management across the many projects it delivers on an annual basis.
In British Columbia, we're committed to providing certainty and fairness and discipline for the taxpayer. By certainty, we mean taxpayers know that they're going to get a project that's delivered on time and on budget through a pay-for-performance contract.
By fairness we mean projects are delivered through a transparent process that leverages private sector investment, innovation, and expertise while also ensuring that government ownership and responsibility are maintained.
By discipline we mean that British Columbia is devoted to discipline in the planning process for projects large and small.
Excuse us for a moment. We have an incoming call. We don't want to answer it. We're not in our office.