Key indicators for the financial assessment of availability payment ppp projects
Apstrakt
As a consequence of renewed interest in attracting private financing for big infrastructure investments, public-private partnership (PPP) arrangements are mostly seen as a suitable mechanism for ensuring sound and quicker delivery of transport infrastructure projects. Unlike conventional delivery methods, when correctly implemented, PPPs are expected to deliver projects more effectively with an efficient transfer of risk and better management of assets. However, a general concern is that expectations of mobilising private sector funds have been overestimated in a number of cases. Some pitfalls of PPP arrangements can be overcome by proper financial assessment of the project and by carrying out an appropriate value for money (VfM) analysis which is often a rationale for using PPPs. Not all PPP models are suitable for all projects. Public sector agencies in different countries are increasingly using availability payment contract models of PPPs, for projects with uncertain revenue streams..., to undertake critical infrastructure investments. Moreover, turning to availability payment projects where demand risk is retained by the government can significantly improve the attractiveness of transport investments to the private sector. An appropriate financial analysis and estimation of the minimum Annual Availability Payments that a potential concessionaire requires from the public sector to undertake the project is a key element of a successful availability payment PPP project. This paper reflects on critical indicators relevant for the financial assessment of availability payment PPP projects.
Ključne reči:
public private partnership / PPPs / financial assessment / Annual Availability PaymentsIzvor:
Proceedings of The Second International Conference on Traffic and Transport Engineering (Ictte), 2014, 974-978Izdavač:
- Scientific Research Center Ltd Belgrade, Belgrade
Kolekcije
Institucija/grupa
Mašinski fakultetTY - CONF AU - Zlatković, Dejan AU - Tica, Slaven AU - Mladenović, Goran M. AU - Queiroz, Cesar PY - 2014 UR - https://machinery.mas.bg.ac.rs/handle/123456789/1868 AB - As a consequence of renewed interest in attracting private financing for big infrastructure investments, public-private partnership (PPP) arrangements are mostly seen as a suitable mechanism for ensuring sound and quicker delivery of transport infrastructure projects. Unlike conventional delivery methods, when correctly implemented, PPPs are expected to deliver projects more effectively with an efficient transfer of risk and better management of assets. However, a general concern is that expectations of mobilising private sector funds have been overestimated in a number of cases. Some pitfalls of PPP arrangements can be overcome by proper financial assessment of the project and by carrying out an appropriate value for money (VfM) analysis which is often a rationale for using PPPs. Not all PPP models are suitable for all projects. Public sector agencies in different countries are increasingly using availability payment contract models of PPPs, for projects with uncertain revenue streams, to undertake critical infrastructure investments. Moreover, turning to availability payment projects where demand risk is retained by the government can significantly improve the attractiveness of transport investments to the private sector. An appropriate financial analysis and estimation of the minimum Annual Availability Payments that a potential concessionaire requires from the public sector to undertake the project is a key element of a successful availability payment PPP project. This paper reflects on critical indicators relevant for the financial assessment of availability payment PPP projects. PB - Scientific Research Center Ltd Belgrade, Belgrade C3 - Proceedings of The Second International Conference on Traffic and Transport Engineering (Ictte) T1 - Key indicators for the financial assessment of availability payment ppp projects EP - 978 SP - 974 UR - https://hdl.handle.net/21.15107/rcub_machinery_1868 ER -
@conference{ author = "Zlatković, Dejan and Tica, Slaven and Mladenović, Goran M. and Queiroz, Cesar", year = "2014", abstract = "As a consequence of renewed interest in attracting private financing for big infrastructure investments, public-private partnership (PPP) arrangements are mostly seen as a suitable mechanism for ensuring sound and quicker delivery of transport infrastructure projects. Unlike conventional delivery methods, when correctly implemented, PPPs are expected to deliver projects more effectively with an efficient transfer of risk and better management of assets. However, a general concern is that expectations of mobilising private sector funds have been overestimated in a number of cases. Some pitfalls of PPP arrangements can be overcome by proper financial assessment of the project and by carrying out an appropriate value for money (VfM) analysis which is often a rationale for using PPPs. Not all PPP models are suitable for all projects. Public sector agencies in different countries are increasingly using availability payment contract models of PPPs, for projects with uncertain revenue streams, to undertake critical infrastructure investments. Moreover, turning to availability payment projects where demand risk is retained by the government can significantly improve the attractiveness of transport investments to the private sector. An appropriate financial analysis and estimation of the minimum Annual Availability Payments that a potential concessionaire requires from the public sector to undertake the project is a key element of a successful availability payment PPP project. This paper reflects on critical indicators relevant for the financial assessment of availability payment PPP projects.", publisher = "Scientific Research Center Ltd Belgrade, Belgrade", journal = "Proceedings of The Second International Conference on Traffic and Transport Engineering (Ictte)", title = "Key indicators for the financial assessment of availability payment ppp projects", pages = "978-974", url = "https://hdl.handle.net/21.15107/rcub_machinery_1868" }
Zlatković, D., Tica, S., Mladenović, G. M.,& Queiroz, C.. (2014). Key indicators for the financial assessment of availability payment ppp projects. in Proceedings of The Second International Conference on Traffic and Transport Engineering (Ictte) Scientific Research Center Ltd Belgrade, Belgrade., 974-978. https://hdl.handle.net/21.15107/rcub_machinery_1868
Zlatković D, Tica S, Mladenović GM, Queiroz C. Key indicators for the financial assessment of availability payment ppp projects. in Proceedings of The Second International Conference on Traffic and Transport Engineering (Ictte). 2014;:974-978. https://hdl.handle.net/21.15107/rcub_machinery_1868 .
Zlatković, Dejan, Tica, Slaven, Mladenović, Goran M., Queiroz, Cesar, "Key indicators for the financial assessment of availability payment ppp projects" in Proceedings of The Second International Conference on Traffic and Transport Engineering (Ictte) (2014):974-978, https://hdl.handle.net/21.15107/rcub_machinery_1868 .