Released on May 18, 2023
Saskatchewan's Crown corporations plan to invest a record $2.1 billion in capital spending in 2023-24 to enhance system safety and reliability, better serve customers and support the province's growing economy.
"Our Crown sector is a key driving force behind the quality of life and the success of Saskatchewan," Crown Investments Corporation Minister Don Morgan said. "Over the next five years, the sector forecasts an average $2 billion annual capital investment in enhancing and expanding quality services."
SaskTel will invest a record $412 million to expand wireless and fibre optic broadband infrastructure, allowing the Crown corporation to accelerate the growth of its 5G network and the SaskTel infiNETTM service, better connecting Saskatchewan residents and communities across the province.
SaskEnergy will spend a record $331 million to maintain its system integrity and reliability and develop additional infrastructure to meet increasing customer demand, continuing to deliver reliable and affordable natural gas service to homes, businesses and industry.
SaskPower is investing $1.15 billion in new generation, transmission and distribution projects, while maintaining the existing power infrastructure to meet growing customer demand, improve system integrity and reliability, and support energy security and transition in Saskatchewan.
Through SaskWater, the Government of Saskatchewan is investing $44.6 million to support significant industrial growth in the Regina region as well as continued investment to sustain water and wastewater systems.
A significant portion of SGI's capital plan of $31.2 million is allotted for continuing a business process and technology renewal project to enhance customer experience and competitiveness in the insurance industry.
In addition, SaskGaming is expected to begin its $5 million renovation to Casino Moose Jaw in June 2023 to create a brighter, more welcoming, and convenient environment for guests. This will be the first extensive renovation at Casino Moose Jaw since that facility's grand opening in 2002.
"The Crown sector's ongoing investment supports local economies, jobs, communities, and families, and helps attract private sector investment to the province - contributing to growth that works for everyone," Morgan said.
For more information, contact:Shirley Xie
Crown Investments Corporation of Saskatchewan (CIC)