This release was issued under a previous government.
“Albertans have said continued investment into Alberta’s infrastructure is a priority. Our Capital Plan assures we continue to build, maintain and improve our public infrastructure so that we’re ready to meet the influx of newcomers expected to make Alberta home and ensure all Albertans continue to enjoy the high standard of living they expect and deserve.”
Implementing the next phase of the Building Alberta Plan, the 2014-17 Capital Plan supports $19.2 billion in infrastructure projects, about $6.6 billion in each of the next two years and $6 billion in 2016-17.
2014-17 Capital Plan Investment Highlights
- $5.1 billion in municipal infrastructure support through the Municipal Sustainability Initiative and other capital programs;
- $5 billion for the provincial highway network including the Edmonton and Calgary ring roads, rehabilitation work, and twinning Highway 63;
- $2.6 billion to build new and maintain existing health care facilities; and
- $1.8 billion for school capital projects, including $1.2 billion for 50 new schools and 70 modernizations with an expected total cost of over $2 billion.
Other highlights of the plan include significant investments in:
- building and maintaining post-secondary facilities;
- flood recovery projects including mitigation to protect Albertans from future flooding;
- water and waste management projects; and
- carbon capture and storage projects.
A complete list of approved Alberta government Capital Plan infrastructure projects can be viewed online.
“The 2014-17 Capital Plan delivers on what’s important to Albertans. By continuing to invest in our public infrastructure such as schools, hospitals, and transportation networks we’re making sure we meet the needs of Albertans today and we’re creating a strong foundation on which our province can continue to grow and prosper.”
The plan also includes significant investment in maintaining and extending the life of existing assets. More than $1.6 billion will be used over three years to maintain and renew aging schools, post-secondary facilities, roads, health facilities, water infrastructure and provincial parks.
Capital Plan Financing
The Capital Plan is funded through a combination of capital revenue, public-private partnerships, direct borrowing and cash.
The government will set aside money each year in a capital repayment account to ensure that there is money available to repay the balance as it comes due.
The government has a limit on financing for the Capital Plan. By law, Capital Plan financing cannot exceed three per cent of the average of operational revenue over the current year and two prior years.
Under the Building Alberta Plan, our government is investing in families and communities, living within our means, and opening new markets for Alberta's resources to ensure we're able to fund the services Albertans told us matter most to them. We will continue to deliver the responsible change Albertans voted for.