Mr. Chair, we did an assessment, comparing the traditional method with respect to the P3 methodology. The studies and the analysis have shown that the P3 would generate better value for Canadian taxpayers. We are expected to have cost savings in the order of 5%, to I think it is 18% of the project costs.
The P3 advantage, first of all, is that because the private partner will enter into a contractual agreement with the government, there will be very strict and stringent clauses and conditions with respect to meeting the timeline and the budget as well. Otherwise, there will be penalties for the private partner. Therefore, there is an incentive for the private partner to meet that timeline.
The other thing is that for an infrastructure of this scale and magnitude, the P3 will also give us the advantage of ensuring that at the end of the concession period, and throughout that period, the maintenance and operation of the major infrastructure will meet high standards; otherwise, there will be penalties. The Government of Canada can withhold payments as well. Therefore, having a private partner build, maintain, and operate an infrastructure of this scale is certainly an advantage in terms of making sure that at the end of the contractual period the infrastructure is given back to the government in very good shape.