More than 13,000 new energy efficient LED lighting fixtures are now operating on freeways in Detroit’s tri-county area improving visibility, safety and personal security.
P3 projects allow both the public and private-sectors to do what they do best. This, in turn, increases the cost-effectiveness of projects - improves budget certainty for the government agency.
P3 is shorthand for public-private partnership. The term "P3 project" is used to describe a legally binding contractual agreement between a public-sector body, such as a government agency and a private-sector company.
What is a public-private partnership? It is known as a p3 or ppp in short speak. As an alternative delivery method of construction, typically it involves a number of significant features. See more.