Capital budget released

The provincial government’s 2015-16 capital budget totals $597.1 million, an increase over the previous year in support of strategic infrastructure investments which will create jobs and properly repair and maintain existing infrastructure.

The investment from this fund will total $114.6 million for 2015-16, with a possibility for further investment if funds can be leveraged from other sources.

“A big part of the new Strategic Infrastructure Initiative will be invested in our roads, bridges and in improving energy efficiency in our public buildings,” Melanson said. “This initiative may also be used for other infrastructure investment opportunities that demonstrate their ability to increase our provincial exports, focus on innovation and research and development, as well as leverage new technologies.”

Within the capital budget, $409.5 million will be allocated to the Department of Transportation and Infrastructure mainly for the maintenance and repair of transportation infrastructure by fully implementing the province’s asset management system. The government will also invest $95.9 million in schools, $60.2 million in health-care facilities and $5.6 million in universities and community colleges. An investment of $11.8 million will focus on energy retrofits and renewable energy projects for public buildings, leading to local jobs for contractors, and suppliers, long-term operational efficiencies and lower greenhouse gas emissions.

 

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