Parsons is part of the design-build joint venture for the project, the largest transportation project in Saskatchewan’s history and the first transportation infrastructure project to be completed under a P3 model in the province. Parsons Enterprises—Parsons’ entity focused on developing, delivering, financing, and managing essential infrastructure assets under P3s—is an equity participant in Regina Bypass Partners.
Two months after project approval, the consortium—known as SGTP Highway Bypass Limited Partnership, or Regina Bypass Partners—signed the project agreement with the Ministry of Highways and Infrastructure on behalf of the Government of Saskatchewan. Over a term of 30 years, the consortium will operate and maintain the bypass following its construction. The P3 model is saving $380 million compared to building the bypass through conventional methods. The P3 model will also save time because it will be built at least 6 years faster than a traditional build. In addition, the P3 model will protect taxpayers from construction cost overruns and inflation.