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The OWA recently completed a process to add Prime Contractors to perform additional work based on the recently announced $100 million loan from the Government of Alberta. With the new Government of Alberta and Government of Canada loans, we are planning a new process in collaboration with our Prime Contractors to select preferred subcontractors. The process will involve interested vendors submitting information about their experience, technical expertise, location, safety record and rates. This process is currently under development and will be posted to our website when finalized.
We expect that there will be substantial interest in participating in our subcontractor selection process. As a result, we are focusing our attention first on our largest spend areas.
We understand this is an important opportunity for many qualified businesses across the spectrum of size and services, and we are working as best and quickly as we can to put people and funds to work in Alberta. At this time, there are significantly more qualified companies than there are planned and budgeted projects, so we are taking a staged approach. Information will be updated on our website as plans move forward.
In addition, there are several area projects already planned for mid-2020, and our Prime Contractors have been working to obtain proposals to support this work. We plan to release area maps shortly for these projects so that subcontractors can understand where this work is occurring. Local subcontractors may be given preference on these projects.