Alstom Transport supplier of Tram Systems in PPP schemes
|
|
- Laura Atkins
- 7 years ago
- Views:
Transcription
1 Alstom Transport supplier of Tram Systems in PPP schemes Arnaud de Monts 04/04/2014
2 Various procurement schemes A tramway system can be procured in various schemes, each of them have been experimented in various environment but return on experience to adapt the best scheme to a particular project taking into account the presence of existing tram system, the legal framework, the credit worthiest of the organizing authority, the financial environment, the long term vision for such system, Three main options are existing: Lot by lot procurement including an engineering lot The turnkey design & build procurement The PPP / Concession scheme procurement Presentation title - 31/03/2014 P 2
3 Contract type Separate lots Tax payer Transport Authority Public sector to finance full construction investment Interface management Rolling Stock Signaling Infrastructure Civil works Passengers Operator Maintenance Presentation title - 31/03/2014 P 3
4 Some Alstom references in lot by lot Madrid Spain MINTRA LRT 30 Citadis vehicles 32 m, 100% low floor, bidirectional Power supply PARLA line Signaling PARLA line Tram life service: 36 (27+9) trams under 2 technical maintenance contract from start up of operation Grenoble France SMTC LRT Citadis vehicles 43 m, 100% low floor, bidirectional Track works Istanbul Turkey ULASIM LRT 37Citadis vehicles 28 m, 100% low floor, bidirectional Presentation title - 31/03/2014 P 4
5 Contract type Separate Full turnkey lots Tax payer Transport Authority Public sector to finance full construction investment Interface Project management Turnkey consortium: Interface & Project management Rolling Stock Signaling Infrastructure Civil works Passengers Operator Maintenance Presentation title - 31/03/2014 P 5
6 Some Alstom references in turnkey procurement Dubai United Arab Emirates RTA LRT Turnkey 11 Citadis vehicles 43 m, 100% low floor, bidirectional Track works with Appitrack Power supply with APS Signalling & telecom E&M System engineering Depot Tram life service: Full system maintenance from start up of operation (Trams & Infrastructure) Oran Algeria EMA LRT Turnkey 37Citadis vehicles 32 m, 100% low floor, bidirectional Power supply Signalling & telecom E&M System engineering Depot Presentation title - 31/03/2014 P 6
7 Contract type Separate Full PPPturnkey lots Tax payer Transport Authority Public sector to finance part of investment and/or operation subsidies Passengers Presentation title - 31/03/2014 P 7 Interface Project Concession management company Turnkey consortium: Interface & Project management Lenders Operator Shareholders Operator Rolling Stock Signaling Infrastructure Civil works Maintenance Maintenance Financing
8 Alstom s references in Concessions and PPPs Arlanda Airport Link Manchester Metro Line 1 Nottingham LRT Line 2 Rouen Metrobus Line 1 CNM High Speed Line Barcelona LRT Ph 1 & 2 Alicante-Albacete ERTMS Reims LRT Line 1 Milan metro Line 5 + extension Florence LRT Lines 2&3 Jerusalem LRT Line 1 Participation sold In operation In construction Barcelona Presentation title - 31/03/2014 P 8
9 Barcelona Trambaix LRV Concession SPC : Trambaix Contract type : Concession DBFOM - Length : 28 years - Private financing : 50 % - Partial revenues/traffic risk transfer to Concessionaire (technical tariff) 15 km line including Rolling Stock: - 19 LRVs - Civil Work (light no big structures), - Power supply, signalling, track - System engineering - Operation & Maintenance Project history : > Traffic risk mitigated by technical tariff and traffic bands > 31 months between RFQ publication and financial close > Selection criteria based on NPV after an eliminatory technical qualification Main milestones : - Contract signature : November Financial Close: July Revenue service phase : April 2004 Presentation title - 31/03/2014 P 9
10 Barcelona Trambesos LRV Concession SPC : Trambesos Contract type : Concession DBFOM - Length : 28 years - Private financing : 50 % - Partial revenues/traffic risk transfer to Concessionaire (technical tariff) 14 km line including Rolling Stock: - 18 LRVs - Civil Work (light no big structures), - Power supply, signalling, track - System engineering - Operation & Maintenance Project history : > Traffic risk mitigated by technical tariff and traffic bands > 10 months between award notification and financial close > Selection criteria based on NPV after an eliminatory technical qualification Main milestones : - Contract signature : January Financial Close: April Revenue service phase : May 2005 & May 2007 Presentation title - 31/03/2014 P 10
11 Jerusalem LRT Concession SPC : CityPass Contract type : Concession DBFOM - Length : 28 years - Private financing : 30 % - Partial revenues/traffic risk for the Private (minimum revenues guaranteed) 14 km line including Rolling Stock: - 46 LRVs - Civil Work (light no big structures), - Power supply, signalling, track,system engineering - Operation & Maintenance Project history : > Traffic risk mitigated by minimum guaranteed according to bands > 31 months between first bid and financial close > Selection criteria based on NPV after an eliminatory technical qualification Main milestones : - Contract signature : October 2002 / October Financial Close: January 2005 (CPs left / start of work January 2006) - Revenue service phase : August 2011 Presentation title - 31/03/2014 P 11
12 Reims LRT Concession SPC : Mars Contract type : Concession DBFOM - Length : 30 years - Private financing : 60 % - Revenues/traffic risk for the Private 11 km line including Rolling Stock: - 22 LRVs - Civil Work (light no big structures), - Power supply, signalling, track - System engineering - Operation & Maintenance (including bus network) Project history : > Traffic risk mitigated by existing bus network where revenues were known > 27 months between award and financial close > Selection criteria based on NPV after an eliminatory technical qualification Main milestones : - Contract signature : July Financial Close: July Revenue service phase : April 2011 Presentation title - 31/03/2014 P 12
13 Nottingham LRT Concession SPC : Tramlink Contract type : Concession DBFOM - Length : 30 years - Private financing : 60 % - Mix of revenues/traffic risk and availability payment for the Private 17 km lines 2 & 3 including Rolling Stock: - 22 LRVs - Civil Work - Power supply, signalling, track - System engineering - Operation & Maintenance Project history : > Traffic risk mitigated by existing line one (revenues on day one) and availability payment by the authority > 12 months between award and financial close > Selection criteria based on NPV after an eliminatory technical qualification Main milestones : - Contract signature : December Financial Close: December Revenue service phase for new lines: December 2014 Presentation title - 31/03/2014 P 13
14 Lessons learned Direct or indirect government support is crucial to projects because : - Mass transit system do not reach financial equilibrium with fare revenues only - Capital subsidy paid alongside construction has been implemented for successful projects - Lenders may ask for government guarantees on the debt provided at least during operation - Lenders ask for fair compensation from authority in case of contract termination even for contractor default Full revenue risk transfer in projects does not represent Value for Money because : - Banks take low patronage forecast associated with expensive risk profile credit - Need for higher than normal use of expensive equity capital to face lower than expected revenues - REX prove that successful project have been implemented with mitigation like minimum revenue guarantee, availability payment with symbolic traffic risk, existing established revenues stream - More and more new projects are based on only availability and performance revenues Ongoing concession and PPP projects implemented are greenfield because: - Contractors reluctant to take the risk of the conditions of existing assets - Modernization sections are usually managed by the public infrastructure owner through a traditional procurement -However in Tram urban transport existing line or bus operation can be a source of initial revenues to extend the network Risk transfer to the private sector: Presentation title - 31/03/2014 P 14 - Limited to the rail industry capacity to deal with such risks
15 Reminder: Rail infrastructure Concession scheme with traffic risk Conceding Authority Capital subsidy Concession Contract Operating subsidies Shareholders (Industrials/Investors) Equity Dividends Concessionaire (Special Purpose Company SPC) Loan Debt service Lenders (Banks, ECA, etc..) EPC Turnkey Contract Operation & Maintenance Contract EPC Consortium O&M Company Users (Passengers or Operators) Presentation title - 31/03/2014 P 15
16 Reminder: Rail infrastructure PPP scheme without traffic risk Conceding Authority Fare or Access fee Users (Passengers or Operators) Capital subsidy Concession Contract Availability payments Shareholders (Industrials/Investors) Equity Dividends Concessionaire (Special Purpose Company SPC) Loan Debt service Lenders (Banks, ECA, etc..) EPC Turnkey Contract Maintenance Contract EPC Consortium Maintenance Company Presentation title - 31/03/2014 P 16
17 Recommendations We recommend PPP schemes : - with a strong support of Government - without traffic risks (or strongly mitigated) - with availability payments based on performance - for new lines / greenfield scope of works - to follow some key terms required by the specific features of the PPP (see after) Presentation title - 31/03/2014 P 17
18 Key terms required by the specific features of the PPP 1. Clear allocation of risk Defining feature of PPPs ideally follows the party who controls and can manage such risk can be shared: change in laws, hardship 2. Contract Adjustment Mechanisms devised to Ensure the continuity of the Public Service Maintain the contract economic balance throughout the life of the project 3. Private partner s compensation in the event of termination (dictated by the fact that the private partner finances the project) 4. Private Partner s right on the land during performance of the contract 5. Ownership of equipment/buildings built on public land during contract performance and upon termination Presentation title - 31/03/2014 P 18
19 Key terms required by the specific features of the PPP 2. CONTRACT ADJUSTMENT MECHANISMS A. When an unforeseen event occurs that prevents performance of the Contract PPP contracts typically include a FM clause which defines Force majeure and specifically describe Parties rights and obligations (compensation, termination ) B. When an unforeseen event fundamentally alter the equilibrium of the contract resulting in an excessive burden being placed on one of the parties involved PPP contracts typically contain a hardship clause (discussions to discuss way forward, compensation, additional time, right to terminate) C. When a change in law impacts the costs or time for performance PPP Contracts typically include a clause which defines the consequences of a change in law D. When the Public entity by its action, increases the burden of performance for the private partner PPP Contracts typically include a clause which defines the consequences in greater details (indemnification, extension of time, right to terminate, ) Presentation title - 31/03/2014 P 19
20 Key terms required by the specific features of the PPP 3. COMPENSATION OF THE PRIVATE PARTNER UPON TERMINATION A. Voluntary termination by the Public Authority: Compensation is necessary to avoid a situation of unfair enrichment for the Public Authority Compensation mechanism provided for in PPP contracts is typically financing based: defined by reference to the financing raised by the Private Partner for the project, subordinated debt and equity. In addition to the base amounts mentioned above, compensation also usually covers third-party costs and lost profits B. Termination by the Public Authority for breach: The principle of compensation of the private partner is widely accepted to avoid an unfair situation The compensation mechanism provided for in PPP contracts is typically based on the senior debt outstanding at the time of termination ( Debt-Approach) C. Termination on account of Force Majeure/Hardship A prolonged force majeure event or severe hardship situation should give a right to both contracting parties to terminate the PPP contract. General consensus is that the Private should be compensated the compensation mechanism provided for in PPP contracts usually covers sums owed to senior lenders (e.g. debt outstanding, unpaid interest, hedging breakage costs), the Presentation title - 31/03/2014 P 20 equity contributions paid in by investors as well as payments owed to the subcontractors
21 Key terms required by the specific features of the PPP 4. PRIVATE PARTNER RIGHT ON THE LAND The PPP Law should provide that the public entity may transfer land to the Private Partner through sale, making available, transfer of use, lease or rental for the duration of the PPP contract without cost 5. OWNERSHIP OF EQUIPMENT/BUILDING ERECTED OR INSTALLED BY THE PRIVATE PARTNER Installation/erection on public land Title to Equipment/building can automatically transfer to the Public Authority however PPP Contract should grants to the Private Partner the right to use and benefit from such assets during the term of the contract Installation/erection on private land (depot for example) Private partner owns the assets during the term of the contract PPP contract must define the financial conditions for the transfer of ownership upon expiration of the contract Presentation title - 31/03/2014 P 21
22 To Conclude some key success factors for PPP financing - Realistic assessment of the investment cost and of the passenger traffic/revenues at the feasibility stage - Sustained political and budgetary support to the project - Adequacy of legal concession frame with international standards, including: - Adequate compensation in case of early termination - Possibility for banks to step-in prior to termination - Well-balanced risk sharing between the conceding authority and the concessionaire - Basic rule: each risk must be allocated to the party which can manage it the best - Strong, committed and experienced international and local partners for construction, operation, and financing - Impact of financial crisis : banks are less prone to finance big investments with construction and ridership risks Presentation title - 31/03/2014 P 22
23 With Alstom, preserve the environment. Is printing this presentation really necessary?
24 APENDIX: Other Alstom Transport successful PPPs Presentation title - 31/03/2014 P 24
25 Nimes Montpellier Bypass HSL (1/2) Concession SPC : OC VIA Contract type : PPP DBFM - Length : 25 years - Private financing : 66,3 % - Availability payment 60 km + 20 km of connections including : - Civil works - Track - Electrification - Signaling and telecommunications Project history : > No traffic risk, availability payments made on performance > Financial close in less than 4 months Main milestones : - Contract signature & Financial close : June Revenue service phase : October 2017 Presentation title - 31/03/2014 P 25
26 Alicante Albacete HSL Concession SPC : ALBALI Contract type : PPP DBFM - Length : 20 years - Private financing : 63 % - Maintenance fee payment in addition to asset fee payment 165 km including : - ERTMS 2 signaling / interlocking - Centralized traffic control and safety installations, - Fixed & mobile Telecommunications (GSM-R) - Related energy and civil works Project history : > No traffic risk, availability payments made on performance > 14 months between publication and financial close > 50 % of selection criteria based on maintenance cost and organisation Main milestones : - Contract signature : January Commercial operational phase : January 2014 Presentation title - 31/03/2014 P 26
Looking for new opportunities of investment for the PPPs projects. The keys of the success for PPPs in railway sector
Looking for new opportunities of investment for the PPPs projects The keys of the success for PPPs in railway sector Doris CHEVALIER Paris 14 Juin 2013 1 2 French expertise for railway PPPs French expertise
More informationTurnkey Rail Solutions your project delivered
Turnkey Rail Solutions your project delivered CITADIS tramway in Barcelona (Spain) Project Management meeting Alstom is the one-stop-shop company for turnkey projects Alstom offers you in-depth expertise
More informationFinancing PPPs: Project Finance June 2006
Financing PPPs: Project Finance June 2006 Index Section I. Section II. Section III. Project Finance Spanish Market Advantages Risk Matrix P. 2 Section I Project Finance Project Finance Definition Definition:
More informationINTRODUCTION TO PUBLIC-PRIVATE PARTNERSHIPS
INTRODUCTION TO PUBLIC-PRIVATE PARTNERSHIPS WITH AVAILABILITY PAYMENTS Dr. Silviu Dochia, Senior Associate Michael Parker, Managing Director SUMMARY Public-private partnerships ( P3s ) can provide the
More informationSeoul Metro line 9 O&M Contract
Seoul Metro line 9 O&M Contract 1 1 Veolia Transport Veolia Transport is a leading operator of public transportation in Europe More than 3000 public clients 2007 annual turnover: 5.6 billion 82 000 employees
More informationRAIL INFRASTRUCTURE DELIVERING LIFECYCLE SOLUTIONS
RAIL INFRASTRUCTURE DELIVERING LIFECYCLE SOLUTIONS Catenary installation on high speed line, Reggio Emilia - Bologna, Italy Track work on the Lausanne metro, Switzerland Track for all Terrains and Trains
More informationPPP GLOSSARY. Availability. Base Case. Bidder BOOT BOT. Business Case. Commercial Operations Date (COD) Concession
PPP GLOSSARY Availability Base Case Bidder Bond BOOT BOT Term Business Case Capex Commercial Operations Date (COD) Concession Meaning The period when the facility (or the relevant part thereof) is able
More informationAgreements, bonds and guarantees
Agreements, bonds and guarantees SPV Formation The Special Project Vehicle (SPV) may take a variety of forms, including a corporation, limited liability company, general partnership, limited partnership,
More informationPPP Basics and Principles of a PPP Framework
Note 1 May 2012 PPP Basics and Principles of a PPP Framework This note is the first in a series of notes on developing a comprehensive policy, legal, and institution framework for public-private partnership
More informationLRT Line 1 Extension Project. Version NEDA, April 2009
LRT Line 1 Extension Project Revised Feasibility Study Version NEDA, April 2009 Presentation Outline Objectives & Project developments & Implications of North Extension Implementation Framework & Transaction
More informationPPP Models. Ownership of capital assets Responsibility for investment Assumption of risks, and Duration of contract.
PPP Models The PPP models vary from short-term simple management contracts (with or without investment requirements) to long-term and very complex BOT form, to divestiture. These models vary mainly by:
More information01LG Corp. Overview. Korea Employee 125,000 Plants 40 R&D Center 70. Overseas Employees 88,000 Local subsidiaries 200 - Plants : 50 -R&D: 20
01LG Corp. Overview Korea Employee 125,000 Plants 40 R&D Center 70 Overseas Employees 88,000 Local subsidiaries 200 - Plants : 50 -R&D: 20 01LG Corp. Business Area z 12 14 31 02LG CNS Overview LG N-Sys
More informationT o o l k i t f o r P u b l i c - P r i v a t e P a r t n e r s h i p s i n r o a d s & H i g h w a y s. PPP Modalities
PPP Modalities Types and characteristics of PPP are presented in several sections of the Toolkit: refer Types of PPP in Key Issues. This section provides some consideration of which modality, or which
More informationCOMPILATION OF PPP TERMS AND CONDITIONS OF CONTRACT PUBLIC SECTOR VERSION CLAUSE 54: COMPENSATION ON TERMINATION DBFOM CONTRACT CONCESSION CONTRACT
COMPILATION OF PPP TERMS AND CONDITIONS OF CONTRACT PUBLIC SECTOR VERSION CLAUSE 54: COMPENSATION ON TERMINATION DBFOM CONTRACT CONCESSION CONTRACT INTRODUCTION On early termination, the facility reverts
More informationLaw of Mongolia on Concessions
Economic Policy Reform and Competitiveness Project April 2005 Ulaanbaatar, Mongolia This publication was produced for review by the United States Agency for International Development The views expressed
More informationFINANCING PPP IN INTESA SANPAOLO GROUP
FINANCING PPP IN INTESA SANPAOLO GROUP Bulgaria Italy Bilateral Cooperation Project Models and Strategies for Public-Private Partnership Rome, 23 rd October 2007 Intesa Sanpaolo Group - Overview Intesa
More informationMarch 2006. ALSTOM in Spain. Contents. ALSTOM in Spain. Power. Transport
March 2006 ALSTOM in Spain Contents ALSTOM in Spain Power Transport 2 ALSTOM in Spain Entities ALSTOM Power, S.A. Employees 448 Sales M 455 ALSTOM Transporte, S.A. 2,028 472 Total 2,476 927 (For FY April
More informationSection A Introduction This section asks for information that aims to identify the independence and ownership situation of your business.
Access to Finance Purpose of this survey Access to finance is crucial to business success and an important factor for economic growth in Europe following the economic crisis in 2007. The purpose of this
More informationCreating Opportunity Where Its Needed Most. December 2012 Christopher Olobo IFC, Nairobi
Jordan: Queen Alia International Airport Creating Opportunity Where Its Needed Most December 2012 Christopher Olobo IFC, Nairobi Table of Contents Subject Page Who is the IFC? 2 The Queen Alia Project
More informationPublic-Private Partnerships Forum PPP Law, Structures and Contracting
Public-Private Partnerships Forum PPP Law, Structures and Contracting AGC California Fall Conference 2010 Hyatt Grand Champions, Indian Wells November 4, 2010 MAKING IT HAPPEN. Overview California PPP
More informationWORLD BANK WORLD BANK
XV. Financial Planning Public Transport Planning and Reform: An Introduction Public Transport Financial Planning Systematic approach that helps produce a financially sustainable program for implementing
More informationAvailability Payment Mechanisms For Transit Projects ADVISORY
Availability Payment Mechanisms For Transit Projects ADVISORY Agenda Availability Payments Overview Structure Financial Implications Case Study Additional Considerations KPMG Infrastructure 2 What is an
More informationPublic Private Partnership Schemes and Railways Financing PPP Projects for the Railways Network in France
Public Private Partnership Schemes and Railways Financing PPP Projects for the Railways Network in France Geneva / November 07, 2012 Gweltaz GUIAVARC H Head of Major Projects & PPP Support Service Major
More informationExpression of interest for the delivery of an Initial Operating Segment
Expression of interest for the delivery of an California High-Speed Rail Authority DB International GmbH Marc Giesen, Director Consulting Marc.Giesen@db-international.de Oskar-Sommer-Strasse 15 60596 Frankfurt
More informationPublic-Private Partnerships
Public-Private Partnerships Closing Critical Issues Washington, Background In limited recourse finance, the primary source of debt service is the cash flow generated by the Project will evaluate all factors
More informationAnnual Meeting of Senior PPP Officials 2010
Paris _ 12th of April 2010 PPP Risk Pricing PPPs Vs Traditional Procurement PPPs Strengths PPPs around the World Best PPPs Practices PPP Risk Pricing DESIGN DIFFERENT PPP DELIVERY MODELS BOT BUILD FINANCE
More informationInfrastructure in Colombia Key investment considerations. June 18, 2014
Infrastructure in Colombia Key investment considerations June 18, 2014 With you today Stephen Best Stephane Villeneuve Senior Manager Global Infrastructure KPMG General Manager New Markets and Strategy
More informationThe new Athens Airport
Athens International Airport S.A. The new Athens Airport Presentation to Hochtief Analysts Dr Yiannis Paraschis Athens, 28/6/02 The Agenda The Airport Project The Business Approach Cost and Traffic The
More informationOvercoming financing challenges for Hydro Power Projects Francois Viljoen, Director, Cresco Project Finance, South Africa
Overcoming financing challenges for Hydro Power Projects Francois Viljoen, Director, Cresco Project Finance, South Africa Contents Features of Project Finance Challenges posed by Project Finance Risk assessment
More informationC a b l i n g s o l u t i o n s a t t h e c o r e o f R a i l w a y N e t w o r k s
C a b l i n g s o l u t i o n s a t t h e c o r e o f R a i l w a y N e t w o r k s High Speed Line (HSL) Zuid The Netherlands - Siemens project Dedicated 100 km high speed rail line between Antwerp (Belgium)
More informationGebze Izmir Motorway & Izmit Bay Crossing Project
Gebze Izmir Motorway & Izmit Bay Crossing Project F.Mehmet Coşan CFO Haluk BÜYÜKBAŞ Secretary General, TCA Gebze Orhangazi Izmir Project is the landmark transaction for the infrastructure sector in Turkey
More informationProjects for High-speed Trains in Brazil BRAZILIAN HIGH SPEED LINE (RIO DE JANEIRO SÃO PAULO CAMPINAS)
Projects for High-speed Trains in Brazil BRAZILIAN HIGH SPEED LINE (RIO DE JANEIRO SÃO PAULO CAMPINAS) Hélio Mauro França Executive Superintendent - ANTT Berlim, September 22 2010 RIO SÃO PAULO HIGH SPEED
More informationPPP Experience on the Canada Line
PPP Experience on the Canada Line International Practicum on Innovative Transit Funding & Financing June 13, 2014 Fred Cummings, P.Eng. President and General Manager BC Rapid Transit Co. Outline TransLink
More informationSection A: Compensation on Termination for Board Default and Voluntary Termination
PART 23 OF THE SCHEDULE: COMFENSATION ON TERMINATION Section A: Compensation on Termination for Board Default and Voluntary Termination If Project Co terminates this Agreement pursuant to Clause 45 (Board
More informationDen Danske Banekonference May 21st 2013 AARHUS LETBANE DETAILED PLANNING OF AARHUS LIGHT RAIL SYSTEM CLAUS REHFELD MOSHØJ CEO AARHUS LETBANE I/S
Den Danske Banekonference May 21st 2013 AARHUS LETBANE DETAILED PLANNING OF AARHUS LIGHT RAIL SYSTEM CLAUS REHFELD MOSHØJ CEO AARHUS LETBANE I/S Content DISCLAIMER: Aarhus LRT is in the middle of a tender
More informationQueen Alia International Airport Project, Jordan
Queen Alia International Airport Project, Jordan Case Study Madhavi Gosavi, Partner Norton Rose LLP 11 September 2009 The Project 25-year concession for the rehabilitation, expansion and operation of the
More informationAnalyzing the Statement of Cash Flows
Analyzing the Statement of Cash Flows Operating Activities NACM Upstate New York Credit Conference 2015 By Ron Sereika, CCE,CEW NACM 1 Objectives of this Educational Session u Show how the statement of
More informationMAINE AGRICULTURAL MARKETING LOAN FUND (AMLF) LOAN APPLICATION
Application Instructions: Attached is a loan application for the Agricultural Marketing Loan Fund. In order to apply for a loan under this program, please submit the following: 1. Please start by writing
More informationRevenue and Financing Policy
Revenue and Financing Policy Purpose To present Bay of Plenty Regional Council s (Council) policies for financing its planned groups of activities including proposed funding sources. Under Sections 102
More informationSolar Power Purchase Agreements & Leases
Solar Power Purchase Agreements & Leases Angela Lipanovich, Esq. March 7, 2012 Copyright 2012, Estriatus Law. All rights reserved. Conditions of Usage and Disclaimer 1 Estriatus Law grants the following
More informationPROJECT FINANCE UNCDF October 2014 Dar Es Salaam
Project Finance PROJECT FINANCE UNCDF October 2014 Dar Es Salaam AGENDA History and Definition Structure of Project Finance Transactions Key Players Milestones Role of Debt in PF transactions Risk Management
More informationeeef European Energy Efficiency Fund
eeef European Energy Efficiency Fund Agenda 1 introduction to eeef - key elements 2 eeef investments: eligibility, process and project structures 3 Case studies 4 Final Remarks 2 1a eeef at a glance Objective
More informationPARTS SUPPLY SERVICES TO OPTIMIZE YOUR MAINTENANCE PERFORMANCE
PARTS SUPPLY SERVICES TO OPTIMIZE YOUR MAINTENANCE PERFORMANCE Alstom Transport 1 A meticulous, anticipatory approach to parts supply minimizes the effect of maintenance operations on train schedules Alstom's
More informationDeveloping by Public Private Partnership (PPP): Meeting infrastructure needs successfully.
Developing by Public Private Partnership (PPP): Meeting infrastructure needs successfully. Vicky D. Kefala Head, Investments & Development Projects Consolidated Contractors Company (CCC) MBA Finance, BA
More informationCODE OF GOOD PRACTICE. for BLACK ECONOMIC EMPOWERMENT PUBLIC-PRIVATE PARTNERSHIPS
NATIONAL TREASURY CODE OF GOOD PRACTICE for BLACK ECONOMIC EMPOWERMENT in PUBLIC-PRIVATE PARTNERSHIPS Following public consultation and incorporation of comments, the Code of Good Practice for Black Economic
More informationLAW OF MONGOLIA ON CONCESSIONS CHAPTER ONE. GENERAL PROVISIONS
LAW OF MONGOLIA 28 January 2010 State Palace, Ulaanbaatar city Article 1. Purpose of the law ON CONCESSIONS CHAPTER ONE. GENERAL PROVISIONS 1.1. The purpose of this law is to regulate matters related to
More informationSound results for Alstom in 2015/16
PRESS RELEASE Sound results for Alstom in 2015/16 Record commercial year Very strong operational performance Strengthened balance sheet 2020 objectives confirmed 11 May 2016 Between 1 April 2015 and 31
More informationUNECE PPP Healthcare Standard
INTERNATIONAL SPECIALIST CENTRE OF EXCELLENCE ON PPPs IN HEALTH MANILA, PHILIPPINES UNECE PPP Healthcare Standard Questions on lessons learned in the development of Public-Private Partnership ( PPP ) programmes
More informationAgenda. 1. The basis for the Danish Signalling Programme 2. Procurement Phase 3. Way ahead 4. Benefits
A Case study from Denmark Danish Signalling Programme Bent Ahlgren, Banedanmark and Anders Møller, Rambøll Agenda 1. The basis for the Danish Signalling Programme 2. Procurement Phase 3. Way ahead 4. Benefits
More information(Revised April 12, 2006)
(Revised April 12, 2006) 232.001 Definitions. Incremental funding means the partial funding of a contract or an exercised option, with additional funds anticipated to be provided at a later time. 232.006
More informationCourse Description and Overview
Instructor: Class Meeting Time: Class Format: Course Website: Teo Nicolais, Owner Nicolais, LLC mgmte2035@dce.harvard.edu (Tuesday Lecture Group) mgmte2035s2@dce.harvard.edu (Wednesday Lecture Group) 7:40PM
More informationSeeking the right type of finance and managing your money
Seeking the right type of finance and managing your money As with many businesses, there may be a time when growth of the social enterprise requires an investment from external sources. It is important
More informationB U I L D I N G P A R T N E R S H I P S F O R E N E R G Y S E C U R I T Y www.inogate.org
"INOGATE Technical Secretariat & Integrated Programme in support of the Baku Initiative and the Eastern Partnership energy objectives" Project B U I L D I N G P A R T N E R S H I P S F O R E N E R G Y
More informationKey Features Document
Key Features Document This Key Features Document gives you the main points about the Closed Ended Property Portfolio (CEPP) that you are considering. It should be read with your illustration and fully
More informationIntegrated Public Transport Systems
Presentation within: -conference: Bytrafik på skinner? Metro og letbaner i støbeskeen Copenhagen, 21.04.2008 Contents: PT-integration Roles of specific modes Some interesting examples and one specific
More informationAirport Rail Link is gathering speed. Wolfgang Rueprich, Project Manager Airport Rail Link, October 21, 2009
Airport Rail Link is gathering speed Wolfgang Rueprich, Project Manager Airport Rail Link, October 21, 2009 Integrated Public Transit System for Metropolitan Regions Regional / Long Distance Rail Service
More informationThe power of PPP in light rail
The power of PPP in light rail About the increasing need for light rail systems in urban areas, the benefits of public-private partnerships and how Strukton combines its strengths in this market. Strukton
More informationThe Economics of Public-Private Partnerships
The Economics of Public-Private Partnerships Teresa Ter-Minassian Director, Fiscal Affairs Department International Monetary Fund OECD Working Party of Senior Budget Officials Symposium on Agencies and
More informationarrangements typified by joint working between the public and private sectors covering all types of collaboration across the private-public sector
20//204 PUBLIC PARTNERSHIP PRIVATE on Institutional Arrangement and Policy Implications Case Studies from the Republic of Korea November 8, 204 Seung-Jin Baek Economic Development Division UN ECLAC What
More informationIntroduction to Public-Private Partnerships (P3s)
Introduction to Public-Private Partnerships (P3s) Today s Instructor Patrick DeCorla-Souza P3 Program Manager Office of Innovative Program Delivery Program Development Team Course Outline Slide 2 Lesson
More informationPublic Transport in Portugal: Legal and Regulatory Framework. 17th meeting EMTA, Stuttgart 15-16 May 2006
Public Transport in Portugal: Legal and Regulatory Framework TOPICS Institutional Organisation: the present framework Subjects that need to be regulated The conditions of the present revision Questions
More informationOne of Canada s Fastest Growing Automotive Finance Companies
One of Canada s Fastest Growing Automotive Finance Companies This presentation contains forward-looking statements, including, in particular statements about RIFCO s plans, strategies and prospects. These
More informationOverview of the framework
Overview of the framework Need for a framework Accelerated economic growth, aided by expansion of air services in a competitive environment, has manifested itself in a rapid increase in air traffic. For
More informationCONCEPT AND BACKGROUND TO PUBLIC PRIVATE PARTNERSHIP (PPP) / PRIVATE FINANCE INITIATIVE (PFI) UK EXPERIENCE
CONCEPT AND BACKGROUND TO PUBLIC PRIVATE PARTNERSHIP (PPP) / PRIVATE FINANCE INITIATIVE (PFI) UK EXPERIENCE Professor Mustafa Alshawi 11/20/2009 Chairman Iraq Institute for Economic Reforms (IIER) Baghdad,
More informationSTIB moving... on the international track. www.stib.be Société des Transports Intercommunaux de Bruxelles
STIB moving... on the international track www.stib.be Société des Transports Intercommunaux de Bruxelles Expertise on the international markets Thanks to its comprehensive knowledge of an integrated public
More informationCommunity and Renewable Energy Scheme Project Development Toolkit
Community and Renewable Energy Scheme Project Development Toolkit Balance Sheet Equity Investment Community Bond Issues Community Vehicle Crowd Funding Debentures a form of bond Debt Debt Service Cover
More informationMaintaining value for money in the operational phase of PPP contracts
Maintaining value for money in the operational phase of PPP contracts Michael Burnett, Director, European PPP Forum, European Institute of Public Administration, OECD meeting of Senior PPP Officials, 18
More informationGravesham Borough Council. Leader of the Executive
Classification: Key Decision: Part 1 Public Yes Gravesham Borough Council Report to: Leader of the Executive Date: 18 January 2013 Reporting officer: Subject: Kevin Burbidge, Director (Housing and Regeneration)
More informationAccounts Payable are the total amounts your business owes its suppliers for goods and services purchased.
Accounts Payable are the total amounts your business owes its suppliers for goods and services purchased. Accounts Receivable are the total amounts customers owe your business for goods or services sold
More informationAnnual Results Fiscal Year 2013/14. 7 May 2014
Annual Results Fiscal Year 2013/14 7 May 2014 Key takeaways 4% organic growth in sales Resilience in profitability with IFO at 7% Positive FCF in H2 after significant outflow in H1 Cost saving performance
More informationCHAPTER SIXTEEN FINANCING PROJECT DEVELOPMENT Importance of Market and Feasibility Analysis The studies provide market participants with specialized market information. The studies represent the principle
More informationINDEPENDENT REVIEW OF THE CAPITAL METRO FULL BUSINESS CASE
INDEPENDENT REVIEW OF THE CAPITAL METRO FULL BUSINESS CASE Derek Scrafton Transport Systems School of Natural and Built Environments University of South Australia Preface The Terms of Reference for this
More informationPPP in Airport Infrastructure Business Aéroports de Paris Experience
PPP in Airport Infrastructure Business Aéroports de Paris Experience Dead Sea Jordan - June 6 th & 7 th,2010 Aéroports de Paris Group International Operations Major companies within the group International
More informationEurostat's 2010 Survey Questionnaire on Access to Finance
From: Entrepreneurship at a Glance 2012 Access the complete publication at: http://dx.doi.org/10.1787/entrepreneur_aag-2012-en Eurostat's 2010 Survey Questionnaire on Access to Finance Please cite this
More informationOverview of the framework
Overview of the framework Need for a framework Economic growth and trade expansion in recent years have enhanced the relevance of port sector as a critical element in globalisation of the Indian economy.
More informationPORT REFORM TOOLKIT WORLD BANK
WORLD BANK FINANCIAL MODEL MANUAL Concession Project in the port sector 1/ PRELIMINARY ADVICE Required Software : Excel 2000 for PC Data & parameters of modelling : It appears in blue colour and exclusively
More informationFinancing Renewables and Energy Efficiency Projects in Developing Countries
Mobilising Private Capital to reduce Climate Change Instruments and Policies to mobilise International Green Energy Investment Berlin June 29-30, 2010 Financing Renewables and Energy Efficiency Projects
More informationRecent Trends in the French Restructuring Market: The Autodis Example. March/April 2010. Laurent Assaya Andrew L. Rotenberg
Recent Trends in the French Restructuring Market: The Autodis Example March/April 2010 Laurent Assaya Andrew L. Rotenberg Historically, France has always been perceived as a pro-debtor jurisdiction. However,
More informationCOSTS AND PROJECT RISKS
COSTS AND PROJECT RISKS ASSOCIATED WITH OWNERSHIP AND CONTRACTING MODELS IN NUCLEAR NEW BUILD Sabin Sabinov, WorleyParsons Nuclear Services Bulatom Conference, Varna, 2014 Key Presentation Topics Cost
More informationFinancing of Smart Cities. Kumar V Pratap Economic Adviser Ministry of Urban Development Government of India
Financing of Smart Cities Kumar V Pratap Economic Adviser Ministry of Urban Development Government of India Responsibilities and finances of ULBs 2 Responsibilities Water and sewerage provision; Waste
More informationLao PDR Public-Private Partnership Policy
Lao PDR Public-Private Partnership Policy Supported by the Asian Development Bank GRANT-0309 LAO Governance and Capacity Development in Public Sector Management Program (Public Private Partnerships) Table
More informationRisk Allocation in Public-Private Partnership (PPP) Projects for Wastewater Treatment Plants
Risk Allocation in Public-Private Partnership (PPP) Projects for Wastewater Treatment Plants Samuel Capintero, Ole H. Petersen Abstract This paper examines the utilization of public-private partnerships
More informationRestructuring the public transport network in times of financial crisis: Solutions from Thessaloniki
Restructuring the public transport network in times of financial crisis: Solutions from Thessaloniki Prof. Panos Papaioannou, Chairman Konstantinidou Christiana, Transport Planner Thessaloniki Public Transport
More informationThe Dark Side of PPI
T +1 (202) 466-6790 F +1 (202) 466-6797 1700 K Street NW Suite 450 WASHINGTON DC 20006 United States of America The Dark Side of PPI Leverage, Bankruptcy and Risk in Private Municipal Infrastructure T:
More informationRegion of Waterloo Finance Department Financial Services and Development Financing
Region of Waterloo Finance Department Financial Services and Development Financing To: Chair Jim Wideman and Members of the Planning and Works Committee Date: May 27, 2014 File Code: T16-01 Subject: Stage
More informationPUBLIC-PRIVATE PARTNERSHIP (PPP)
PUBLIC-PRIVATE PARTNERSHIP (PPP) Virginia Tan, Allen & Overy Type: Published: Last Updated: Keywords: Legal guide June 2012 June 2012 PPP, infrastructure assets, public and private sectors This document
More informationRisk Management in the Development of a Penta-P Project
Risk Management in the Development of a Penta-P Project Bill Van Meter Regional Transportation District Denver, CO Julie Skeen Jacobs Engineering Denver, CO Damian Carey Jacobs Engineering Denver, CO Don
More informationPreliminary Value for Money Analysis
Preliminary Value for Money Analysis Comparison of Project Delivery Methods and Financing Options C-470 ExpressLanes November 2014 Outline Executive Summary Comparison of Delivery Options Base Case Plan
More informationImplementing Passenger Information, Entertainment, and Security Systems in Light Rail Transit
P OPERATIONS AND COMMUNICATIONS Implementing Passenger Information, Entertainment, and Security Systems in Light Rail Transit VALENTIN SCINTEIE ALSTOM Transport Information Solutions assenger information,
More informationContent Chapter 3.5. Role of business Planning today. Basic concepts. Telecom business modeling. Typical evaluation results
ITU / BDT- COE workshop Bangkok, Thailand, 11 15 November 2002 Network Planning Lecture NP- 3.6 Business Planning November 12th ITU/BDT-COE Network Planning/ Business Planning - O.G.S. Lecture NP - 3.6
More informationThe Future of Transportation
The Future of Transportation Innovation at Siemens Press and Analyst Event, CEO Mobility siemens.com/innovation Exponential growth of digitalization will change rail and road transportation enormously
More informationAnnual Results Fiscal Year 2014/15. 6 May 2015
Annual Results Fiscal Year 2014/15 6 May 2015 Key takeaways 2014/15 results guidance met Transport showing solid commercial and operational performance Orders up 63%, sales growth of 8% (7% organic) IFO
More informationCP FOR THE DRAFT RTS ON ASSIGNING RISK WEIGHTS TO SPECIALISED LENDING EXPOSURES EBA/CP/2015/09. 11 May 2015. Consultation Paper
EBA/CP/2015/09 11 May 2015 Consultation Paper Draft Regulatory Technical Standards on Assigning Risk Weights to Specialised Lending Exposures under Article 153(9) of Regulation (EU) No 575/2013 (Capital
More informationSelecting sources of finance for business
Selecting sources of finance for business by Steve Jay 08 Sep 2003 This article considers the practical issues facing a business when selecting appropriate sources of finance. It does not consider the
More informationStandardisation of PF2 Contracts. Draft
Standardisation of PF2 Contracts Draft December 2012 Standardisation of PF2 Contracts Draft December 2012 Official versions of this document are printed on 100% recycled paper. When you have finished
More informationRisk Management. Risk Identification
Management This part provides guidance on the treatment of risks on a PPP project, and; Identifies the major risks common to many PPP projects across all sectors; Allocates the identified risks between
More informationCapital Structure: Informational and Agency Considerations
Capital Structure: Informational and Agency Considerations The Big Picture: Part I - Financing A. Identifying Funding Needs Feb 6 Feb 11 Case: Wilson Lumber 1 Case: Wilson Lumber 2 B. Optimal Capital Structure:
More informationInfrastructure Development Funding and Financing
Infrastructure Development Funding and Financing 09 December 2013 2 Presentation outline 1. Role of infrastructure development 2. Public sector infrastructure investment 3. Funding options i. Recent airport
More informationWHAT SHOULD YOUR TERMS AND CONDITIONS INCLUDE?
WHAT SHOULD YOUR TERMS AND CONDITIONS INCLUDE? The date of the contract. The names and addresses of the parties. When the contract is to start. Duration? Fixed term or ended by notice? Set out the background
More informationPublic/Private Partnerships and the Public Procurement Process
ELEVATING OUR PROFESSIONALISM 48 TH ANNUAL CONFERENCE MAY 17-20, 2015 ORLANDO, FLORIDA Public/Private Partnerships and the Public Procurement Process By Roman Martinez, MPA, CPPO, CPPB DEFINITION OF P3S
More information