Tuesday, 23 September 2014
The city of Tampere is considering tendering a new tramway project under a PPP contract. The project would include two double-track lines with a 23.5km length and 33 stops. The city has a population of 210,000 and expects 48,000 passengers will use the tramway daily by 2030. The estimated cost is €250m, 30% of which would be provided by the Finnish government. The project has been approved in June, and Tampere held the first meeting with the market last week. In addition to the PPP model, the city is also considering a life-cycle framework in which the city is responsible for the financing of the project, and a turn-key contract. The project is expected to be tendered next year.
The project financing to back the expansion of the Sasol petrochemical plant in Louisiana has been launched to debt funders and bids are due back in early October. The deal is one of the first significant petrochemical project financings in the US to take advantage of the cheap ethane feedstock prices available due to the shale gas boom in the country. By Rod Morrison and Alison Healey.
The visit of Indian Prime Minister Narendra Modi to Japan was accompanied by the standard PR. But this time the deals signed could actually make a crucial impact on Indian infrastructure. By Minerva Lau.
Russia Inc faces the prospect of more sanctions this week. But key international financings are still being progressed despite the cold capital markets climate. By Rod Morrison.
Those with an interest in renewable energy projects located in Scotland will, like many other people, be looking forward to learning the outcome of the referendum on Scottish independence that is due to take place on September 18. By Conrad Purcell, senior associate, Norton Rose Fulbright.
This article is a personal assessment of the new Contracts for Difference (CfD) support scheme for low carbon generation, which is the biggest change to the UK electricity markets since privatisation in 1990. By Charles Yates, managing director, CY Consultants.
The keenly awaited annual Project Finance International (PFI) Global Infrastructure report has been published at a time when the market is turning. More long term liquidity is available for infrastructure schemes, pricing on shorter term infraco deals is moving down encouraging sponsors back into bidding for assets and the projects pipeline is showing signs of growing once again.
This is the 8th year that PFI is putting together an annual report on India. It comes at a special time when the country has just elected a new prime minister – Narendra Modi – the leader of Bharatiya Janata Party, who broke the status quo and is expected to bring marked changes to the direction the economy has been going through. The theme of the report will thus be “the rebooting of India”.
Project bankers in the petrochemical sector have been spoilt until now. A typical petchem deal involves a fixed feedstock price, some tolling perhaps, sponsor completion guarantees and a firm off-take with perhaps some cash trapped in the project for the inevitable sector downturns. That benign environment could be about to change.
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The Global Energy report takes a look at the full range of issues currently exercising the project finance market - from funding schemes in Africa and obtaining finance for coal fired plants onto renewables, FLNG and the LNG boom in North Americas.
The need for rail road, power, port and resources infrastructure has become an economic priority for countries across the Asia Pacific. The lessons from past infrastructure financing failures have also been learned as governments, sponsors and lenders frame new financial structures that share and minimise financial risk during construction.