🎲 $18B bet

Good morning!  ⛽ Hurting at the pump as you fill up the work truck? It could be worse. Hong Kong consistently holds the title for the most expensive gasoline on the planet with prices in a league of their own. Residents are currently paying approximately $4.11 per liter.

⏰ Today’s read: 5 minutes

MARKETS

Economy: Canada's construction industry is living a tale of two markets. Homebuilding is cooling fast. Starts are forecast to drop to 243,000 units this year, condo presales have collapsed in Toronto and Vancouver, and elevated costs and trade uncertainty are shelving projects. But a massive wave of industrial and infrastructure work is building on the horizon: over $80 billion in major projects are expected to break ground before the end of 2027.

EVENTS

You’re invited to an evening poised for perfect harmony

Industry Icebreaker is finely tuned.

Last year's event — sold out — brought together Alberta's top construction leaders for an unforgettable evening at the Edmonton Hockey Hall of Fame. This year, the venue steps up again: Cask & Keys takes place at the historic Blatchford Field Air Hangar on May 7th.

Curated whiskey, wines, and cocktails. Live piano from Glenn Ackerley. An indoor golf simulator. And the distinct industry leadership that makes this event the show-stopper it is.

Spots are limited.

NEED TO KNOW

The week's headlines

🩺 Purpose built: PC Urban Properties Corp. and Harrison Street Asset Management are moving forward with a two-tower, purpose-built rental development directly across from Vancouver General Hospital. The units are designed specifically to house healthcare workers in what is believed to be one of the first workforce housing projects of its kind in Canada. 

🍾 Bottleneck: A four-day mechanical failure on CN Rail's 57-year-old Second Narrows Rail Bridge has exposed a critical vulnerability at the heart of Canada's export ambitions, triggering a colossal bottleneck at the Port of Vancouver. Experts say it is already impacting major investment decisions and calls for a fix are growing. 

👷‍♀️ Tariff labour check-in: Government defence and infrastructure spending is emerging as one of the few projected bright spots for Canadian construction employment, as economists warn that Canada's broader labour market has stagnated one year into the U.S. tariff campaign. 

🏒 Game on: Ontario’s latest budget is investing an additional $300M into the Community Sport and Recreation Infrastructure Fund, bringing the total to a historic $500M. This record-breaking investment aims to modernize the sector through two funding streams—one dedicated to repairing existing facilities and another to building new ones.

THE BIG STORY

Deep ambition: BHP’s $18B bet on Canadian potash

One thousand metres below the Saskatchewan prairie, a century-long construction project is underway. At $18 billion, The Jansen potash mine is the biggest investment in the history of Saskatchewan — and a test case for whether Canada can still build things at scale.

The construction reality: The work is jaw-dropping. Two 32-metre shaft-boring machines drilled one kilometre below surface, with aquifers frozen in advance to a depth of 900 metres. A subterranean world of tunnels, underground offices, mechanical shops, and conveyor systems is being carved out — infrastructure designed to last 100 years. At peak construction, 5,500 contractors are on site. 

A fortuitous moment: While the headlines are all about the price of oil, The closure of the Strait of Hormuz has stalled tankers loaded with potash fertilizer, threatening demand destruction as farmers face surging input costs.  At full build-out, Jansen could produce enough to supply 10% of global demand. 

Controlling costs: The bet on potash hasn’t been without hiccups. The Stage 1 budget was $7.5B but has since climbed to $11.7 billion. The increases have been driven by longer-than-expected construction hours, material costs, and global supply chain disruptions. Officials noted that this shows how long-term ambitions and deep financial reserves are prerequisites for projects of this size.

Showing the way: Canada’s reputation for cumbersome, costly regulatory approvals has long overshadowed its natural resource wealth, costing investment decisions. Prime Minister Carney promises global capital that Canada is worth the wager and Jansen is the test case. It is one of the few mining projects of its magnitude to have been built in Canada in a generation. The question is whether Jansen's completion is a one-off, or the beginning of something bigger.

PROJECT SPOTLIGHT

Commercial success

Chandos has completed the Rice Howard Place Podium Redevelopment in downtown Edmonton. The 40-year-old commercial complex was fully renovated while remaining open throughout construction. Work included interior upgrades, full exterior recladding, and refreshed retail and food court areas. Former office spaces were converted into premium amenities, including a conference centre, fitness facility, lounge, podcast studio, and games area. A new skybridge was also added, connecting the building to Edmonton's pedway network.

PROJECT UPDATES

Beverly Bridge construction to resumes this week

Halifax exchange project costs jump $30M

Saskatoon’s University Bridge closing for repairs

Work resumes on Squamish flood debris barrier

Two major interprovincial bridge projects planned

WHAT WE’RE TALKING ABOUT

🏗️ PODCAST: Pomerleau’s big plans for Western Canada

🛠️ VIDEO: What DIYers can learn from real contractors

👶 PHOTOS: Children’s book highlights beauty of Winnipeg buildings

📺 VIDEO: Toronto Roadbuilders’ new TV ad

☢️ VIDEO: What it takes to build a modern nuclear shelter

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Here’s to a great rest of the week!

Disclaimer: SiteNews is an independently-operated news website. Views expressed are that of the editorial team and are based on publicly available information unless otherwise noted through sponsored content.