Global Infrastructure Report
The rise of infrastructure funds: In the past 18 months there has been more than US$160bn globally earmarked for infrastructure investments.
Until recently, PPPs have largely been the preserve of transport, with health, education and justice sectors following. However, a groundswell of new projects in the leisure and property arena has marked a fresh new vein of design, build, finance and maintain (DBFM) deals. By Antony Collins.
Earlier this year, financial close was reached on South Africa's US$3.3bn Gautrain rapid rail link public-private partnership (PPP) in Gauteng province. By Bobby Stewart, a partner in the finance and infrastructure and transport groups at Freshfields Bruckhaus Deringer in London.
The Legnano Hospital PFI, which reached financial close in March 2007, has emerged as one of the most important PPPs from the current wave of key infrastructure projects in Italy. Luca Pecchio, head of infrastructure at Techint Compagnia Tecnica Internazionale, and Gabriele Pescarini, head of infrastructure at Dexia Crediop in Rome, explain this pioneering and challenging project.
A project with much innovation, delivered to a tight timeframe – Kevin Brown, associate director, infrastructure finance at Bank of Scotland, discusses the first bank-financed large PFI hospital for some time.
The waste sector is the only really bright light in the UK private finance initiative (PFI) sector. Driven by the need to meet EU directives on reducing landfill, the sector is now a decent if slow-moving source of deals. The Lancashire project is the largest thus far. By Rod Morrison.
On December 21 2006, the first PPP contract under the Ordinance of June 17 2004 (known as the Contrat de Partenariat) was signed by the Ministry for Youth and Sports on behalf of the French Government, in order to refurbish the National Institute for Sport and Physical Education (INSEP). Stephane July and Pierre Bonnet from Dexia’s PPP team in Paris discuss the deal.
The Spencer Dock Convention Centre has set a new standard in social infrastructure PPPs in Ireland. John Kirwan, from the infrastructure finance unit at DEPFA Bank, explains the project.
Governors orchestrating two of the most eagerly awaited road privatisations in the US have chosen two widely divergent courses of action. A look at the key points of the extensive analyses shows that the deals should attract different types of investors. By Alison Healey.
The Irapuato-La Piedad Ps730m (US$67m) toll road became the first PPP closed transaction in Mexico after hurdles that included a disputed presidential election, drug gangs as well as a long and costly bureaucratic process that presages difficulties for future PPPs. By Alan Gersten.
Mexico has seen in the PPP scheme an alternative for the development of public service and infrastructure projects that would otherwise require the spending of large amounts of money in times of budgetary constraints. By Martha A Villalobos-Murillo, an associate and member of the real estate and infrastructure practice group at Baker & McKenzie in Juarez.
South Korea has introduced the PPI scheme for social services and infrastructure relatively only recently, and one of those successfully funded is the Gyeongju City sewage system project. By Kong Seil, general manager, project finance dept, Korea Development Bank and Bae Jung Min, assistant manager.
The WTO has changed Vietnam. Its entry to the organisation is a landmark event as it now has to continue to open its markets to the world, including port development works. Writes Minerva Lau.