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Investing.com -- In a bid to accelerate Canada’s economic transformation, Prime Minister Mark Carney has unveiled a new federal agency, the Major Projects Office (MPO), aimed at expediting the construction of critical infrastructure across the country. Backed by the recently enacted Building Canada Act, the MPO will coordinate and fast-track development of major projects vital to national interest, including ports, railways, energy corridors, and clean technology.
Headquartered in Calgary with regional offices nationwide, the MPO is poised to become a central hub for simplifying regulatory hurdles and coordinating project financing. It will leverage support from provincial, territorial and Indigenous partners to implement a streamlined “one project, one review” model, cutting approval timelines to a maximum of two years.
Announcing the launch, Prime Minister Carney emphasized the urgency of action. “Canada has always been a nation of builders, from the St. Lawrence Seaway to Expo 67. At this hinge moment in our history, Canada must draw on this legacy and act decisively to transform our economy from reliance to resilience,” he said.
Industry veteran Dawn Farrell has been named as the MPO’s inaugural Chief Executive Officer. With executive experience spanning Trans Mountain Corporation, TransAlta, and BC Hydro, Farrell is expected to lend technical acumen and leadership to guide the agency through its foundational phase and the complex landscape of major infrastructure approvals.
The MPO is not just a regulatory body, it will also play a crucial role in attracting and structuring investment. By partnering with entities including the Canada Growth Fund, the Infrastructure Bank, and Indigenous funding programs, the office aims to coalesce public and private capital in support of rapid build-out.
“This is a transformative shift in how we deliver vital infrastructure projects,” said Dominic LeBlanc, Minister responsible for Intergovernmental Affairs. “By working closely with...Indigenous governments to streamline and simplify approval processes, the Office will help diversify our trading relationships, strengthen our position as an energy superpower...and promote Canada’s long-term economic prosperity.”
A key tenet of the MPO’s mandate is Indigenous engagement, starting with the creation of an Indigenous Advisory Council composed of First Nations, Inuit, Métis, and Modern Treaty partners. The government has pledged ongoing consultation to ensure that new development supports reconciliation and delivers tangible economic benefits for Indigenous communities.
In comments made to Investing.com, Canadian Chamber of Commerce President & CEO Candace Laing offered measured support for the MPO while highlighting caveats. “The Canadian Chamber commends the government for moving quickly to open this office and sending the right signals around a significant overhaul for approval of major projects. However, we will be keeping a close watch on this two-track system, which will give some projects an inside track but leaves all other capital at risk of flowing to other markets,” Laing said. Representing over 200,000 businesses nationwide, the Canadian Chamber is one of the country’s most influential business advocacy groups. “Our aim must remain squarely on creating an overall economic environment in which our policy can attract the capital and where progress on building projects is the norm, not the exception.”
The first wave of designated nation-building projects under the MPO’s purview is expected to be announced in the coming weeks, signaling a new era of infrastructure planning and delivery in Canada.