Urban rail transit PPPs: Survey and risk assessment of recent strategies

Phang, Sock-Yong

doi:10.1016/j.tranpol.2007.02.001

Cited by 81 publications

(68 citation statements)

References 12 publications

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“…In particular, performance guarantee policies and government subsidy policies are widely used in PPP infrastructure projects [12][13][14]. The performance guarantee policies are designed to safeguard against performance risks, as the government will confiscate the guarantee money if the SPV fails to provide the predetermined services [15].…”

Section: Literature Reviewmentioning

confidence: 99%

Efficiency Analysis of Government Subsidy and Performance Guarantee Policies in Relation to PPP Infrastructure Projects

Shi

Onishi

et al. 2018

Mathematical Problems in Engineering

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Sustainable operation of public-private partnership (PPP) infrastructure projects that are characterized by considerable external benefits is of vital importance. However, a liquidity shock might trigger an inefficient liquidation of a project by the special purpose vehicle (SPV) and the bank, whose objectives are to maximize the profits generated by the project. This study argues that performance guarantee and subsidy policies implemented by the government play a role in encouraging socially efficient decisionmaking by the SPV and the bank to ensure the continuation of socially valuable projects. The results show that both government subsidy and performance guarantee policies are effective in avoiding the inefficient liquidation of PPP infrastructure projects when the external benefits are large and certain. However, a performance guarantee policy might lead to inefficient continuation when the external benefits of a project are uncertain. Finally, we discuss the possibility that an integrated policy combining performance guarantees and government subsidies improves the efficiency of a PPP infrastructure project.

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Section: Literature Reviewmentioning

confidence: 99%

Efficiency Analysis of Government Subsidy and Performance Guarantee Policies in Relation to PPP Infrastructure Projects

Shi

Onishi

et al. 2018

Mathematical Problems in Engineering

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“…But, put simply, it is a formal business arrangement between public and private sectors [22], where the private sector actors become involved in the delivery of public services [23]. It is usually a long-term relationship motivated by prospects of mutual gains [24,25].…”

Section: Public Private Partnerships (Ppp)mentioning

confidence: 99%

A Project Management Perspective to the Management of Federal Roads in Nigeria: A Case Study of Minna-Bida Road

Olatunji¹,

Diugwu²

2013

JFE

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This paper is the report of a study on the improvement of road infrastructure in Nigeria using the MinnaBida road as a case study. The N1.414 trillion which has been appropriated for the road sector in Nigeria since 1999 is seen as an acknowledgement of the crucial role of road transportation in national development. There are views that inadequate funding has contributed substantially to the deplorable condition of some roads, specifically the Minna-Bida road axis; which is additional to the lack of robust project management strategies capable of sustaining these investments. Anecdotal evidence suggests that Nigeria needs a sustainable framework which would ensure the preservation of her road transportation infrastructure; the attainment of which is affected by the level of funding. This paper highlights the failure of direct conventional tolling and makes a case for Public Private Partnership (PPP), by concessioning, as a means of achieving sustainable preservation of the road transportation infrastructure in Nigeria. The financial viability of both the conventional tolling and the modified shadow-toll concession (STC) models were tested using the Internal Rate of Return (IRR) and Net Present Value (NPV). The result shows that while the STC model is financially viable, the conventional tolling model is not.

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“…It is important to remind that its appearance in 1992, eight years after the privatization of the BAA, draws the distinction between privatization and the establishment of partnerships between public and private sectors. The sustaining principle of the initiative that still remains today was the total or partial transfer of risks inherent to public service provision to the private sector (Phang, 2007). Public service provision has been a government responsibility.…”

Section: Definitionmentioning

confidence: 99%

Contribution to the study of PPP arrangements in airport development, management and operation

Cruz

Marques

2011

Transport Policy

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Following the liberalization wave in the airline sector, airports have been gradually taken out of the public sphere and open to the private initiative. This phenomenon is generally referred to as privatization, but not all the cases consist of, in fact, a full divestiture of assets. Although infrastructure construction, management and financing are undertaken by the private sector during a pre-defined period, usually 30 years or more, the property remains public or is transferred to the public domain after that period. This is a form of Public-Private Partnership (PPP) where two different models can be found: institutionalized PPP or a typical contractual regime, such as the concession arrangements. PPP options have been a "hot" topic over the last decade, being developed in several sectors, such as energy, water, road and seaports transportation infrastructures, etc, but few studies in the literature can be found on the PPP projects development in airport systems, for example, as far as risk-sharing is concerned. This paper looks at recent developments in airport "privatization" and "deregulation", distinguishing privatizations from PPP arrangements, through a case study approach, and establishing a comparative analysis of different PPP models used for airport management. Some comments are made about the Portuguese model and the announcement of future privatization.

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Urban rail transit PPPs: Survey and risk assessment of recent strategies

Cited by 81 publications

References 12 publications

Efficiency Analysis of Government Subsidy and Performance Guarantee Policies in Relation to PPP Infrastructure Projects

Efficiency Analysis of Government Subsidy and Performance Guarantee Policies in Relation to PPP Infrastructure Projects

A Project Management Perspective to the Management of Federal Roads in Nigeria: A Case Study of Minna-Bida Road

Contribution to the study of PPP arrangements in airport development, management and operation

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