Thank you, Mr. Speaker. Low water solutions. Mr. Speaker, there is no better time than the present for us to work together with the federal government to realize the dream that is fully completing the Mackenzie Valley Highway, or MVH. Mr. Speaker, becoming a reality, the MVH campaign plan will involve the federal engagements with our Member of Parliament, Cabinet Minister, GNWT envoy to Ottawa, and Sahtu Secretariat Incorporated MOU arrangement. This next step is overwhelming and, more importantly, extremely encouraging.
Mr. Speaker, we are in the infancy of a new federal Liberal government. Throughout the federal election campaign, we heard that opening Canada, removing trade barriers, and supporting nation building initiatives are important priorities for the newly elected Prime Minister. These priorities were once again highlighted in King Charles' Speech from the Throne that took place in Ottawa, was very encouraging.
Mr. Speaker, the completion of the Mackenzie Valley Highway is a GDP contributor during and after construction. The Speech from the Throne highlighted that the federal government will work closely with provinces, territories, Indigenous peoples, to identify and catalyst projects of nation significance. The Mackenzie Valley Highway will serve as a catalyst to Canada from coast to coast to coast, deepen Canada's ties to the world.
Mr. Speaker, the original $700 million application of 2015, we gained since then a 26 percent equity position. In MVH phase 1, significant work has been done such as the Canyon Creek all-season access road, the Prohibition Creek access road, community engagements, design, geotechnical studies as well. But much work remains, Mr. Speaker. Our partnership with the government needs the business case and environmental assessment completion which is drawing closer by the weeks. I will have questions for the Minister of Infrastructure at the appropriate time. Mahsi.