Privately Financed Roads in Britain PDF Download

Author: Robert Bain, Etc
Publisher: Lulu.com
ISBN: 0956152708
Category : Business & Economics
Languages : en
Pages : 214

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Book Description
'Privately Financed Roads in Britain: A Policy Assessment' critically examines the role of private finance in the construction, operation, maintenance and management of modern highways. The focus is on the UK's Private Finance Initiative (PFI) yet many of the lessons learned retain a currency in the context of international public-private partnerships. Separate chapters cover: Public Policy Objectives; Key Project-Level Risks (construction and traffic); Value for Money and Public Sector Comparators; The Financial Architecture of Private Sector Road Operating Companies; Strengths and Weaknesses of the Privately-Financed Roads Model; Alternative Debt/Equity Structuring; and Containing Private Financing Costs.

Author: Giorgio Ragazzi
Publisher: Elsevier
ISBN: 0080460690
Category : Technology & Engineering
Languages : en
Pages : 263

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Book Description
This volume raises many challenging and controversial issues surrounding motorway procurement and finance in Europe. A somewhat surprising outcome is that a general appraisal bias can be identified in the following sense: Experts from countries which have introduced concession schemes for managing and financing of their motorways are very critical of these schemes, stressing their shortcomings and caveats. Some even conclude that public management under a regime of welfare maximisation would be desirable as a sustainable option. Experts from countries which have been sticking to public procurement and tax finance of motorways strongly attack the inefficiency of public planning regimes and the general tendency to allocate the revenues from special transport related taxes to the public budget, eventually spending them on other purposes rather than transport. A typical feature of the latter regime seems to be the chronic lack of funds for infrastructure investment. Although a single ideal country concept for motorway procurement and finance obviously cannot be identified, every paper gives some insights into possible future improvements. Therefore, beyond the rich documentation of national solutions it is the perspective on workable future concepts which makes the book a valuable guide through the jungle of manifold options for public/private partnerships. This book is a selection of papers presented to the international conference "Highways: Costs and Regulation in Europe", held in Bergamo on the 26th - 27th of November 2004. The Conference was organised by the University of Bergamo, and sponsored by the European Investment Bank.

Author: Graeme A. Hodge
Publisher: Edward Elgar Publishing
ISBN: 1849804699
Category : Business & Economics
Languages : en
Pages : 656

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Book Description
Public Private Partnerships (PPPs) promise much and present an exciting policy option. Yet as this Handbook reveals there is still much debate about the meaning of partnership, and the degree to which potential advantages are in fact being delivered. In this timely Handbook, leading scholars from around the world explore the challenges presented by infrastructure PPPs, and contemplate what lies ahead as governments balance the need to provide innovative new infrastructure against the requirement for good public governance. This Handbook builds on a range of exciting theoretical lenses that span several disciplinary boundaries. It presents innovative insights and informed perspectives from an international base of empirical evidence. This essential Handbook will prove an invaluable reference work for academics, advanced post-graduate students and commentators of PPPs, as well as professionals, infrastructure regulators and government policy advisors.

Author: Akintola Akintoye
Publisher: John Wiley & Sons
ISBN: 1444301438
Category : Technology & Engineering
Languages : en
Pages : 504

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Book Description
This book examines some of the key policy, financial and managerialaspects of public-private partnerships within the context of theglobal spread of this form of procurement. The chapters investigate political and institutional issuessurrounding PPPs, together with the financial and managerialstrategies employed by the private sector. Adopting across-disciplinary perspective, the book highlights the oftenpolitically sensitive nature of these projects and identifies aneed for the private sector to investigate a broad set ofparameters which relate to the particular political economy ofindividual partnerships. Policy, Finance & Management for Public-Private Partnershipscovers a range of specific issues, including: partnerships indeveloping countries; innovation in partnership-based procurement;government and business interaction; institutional andorganisational approaches to facilitating partnership; project andcorporate financing; risk and value management; market analysis,modelling and forecasting; capital structure decisions andmanagement; investment theory and practice; pricing and costevaluation; statutory regulations and their financial implications;option pricing; financial monitoring; syndicate funding; new rolesfor the financial and insurance sectors; institutional andmultilateral funding; payment mechanisms; concession perioddetermination; risk analysis and management; whole life valuemethodology; cost comparators and best value; team building, teamwork and skill development. Contributions from Australia, Europe, the Far East, South Africaand the United States together present the current thinking andstate-of-the-art approaches to public-private partnerships.

Author: Great Britain: National Audit Office
Publisher: The Stationery Office
ISBN: 9780102965544
Category : Business & Economics
Languages : en
Pages : 44

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Book Description
The slowness with which the Highways Agency's PFI contract to widen the M25 was taken forward resulted in higher financing costs in the credit crisis. Moreover, the Agency was slow to investigate a potentially cheaper alternative to widening. An 18-month delay in preparing and finalizing the widening procurement meant that the contract was let in May 2009 at the height of the credit crisis. This increased the net present cost of the deal by £660 million (24 per cent) to £3.4 billion. The case for PFI was less convincing than the Agency thought owing to shortcomings in its cost estimation process. The Government had announced in 2003 its intention to reduce congestion on the M25. The Agency was starting to carry out trials at that time of an alternative, potentially cheaper solution of hard shoulder running (allowing drivers to use the hard shoulder at times of peak congestion), first tested in Europe in 1996. The NAO estimates the savings from a conventionally procured hard shoulder running solution might range between £400 million and £1.1 billion. The Agency, however, doubted the technique's suitability for one of the sections of the M25 being widened which has high traffic flow and whether operation and maintenance savings could be achieved through conventional procurement

Author: Geert Dewulf
Publisher: John Wiley & Sons
ISBN: 1119968283
Category : Technology & Engineering
Languages : en
Pages : 226

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Book Description
Managing PPP projects is not a routine job, as every PPP project is different and should be managed accordingly. These projects require considerable capability and skills from both public sector and private sector managers involved, Strategic Issues in Public Private Partnerships, Second Edition, delivers the insight and tools necessary to assist those managers. As Public private partnership (PPP) arrangements become an increasingly popular way for national governments to fund and develop public infrastructure and urban areas with private sector contributions, a better understanding of the risks involved is crucial. The second edition of Strategic Issues in Public Private Partnerships : Provides an international overview of the application of concessions - the most common form of PPP [eg PFI (Private Finance Initiative); BO(O)T (Build/Own/Operate/Transfer) or DBFMO (Design/Build/Finance/ Maintain/Operate)]. Focusses on the introduction of concessions and the problems encountered, the solutions found for these problems, and the different approaches to concessions chosen across different countries. Provides a strategic overview for those involved in setting up and managing PPP projects. Illustrates lessons from different national backgrounds and gives managers the insight and tools to manage PPP projects effectively. Essential reading for Contractors & funding organizations involved in PPP projects as well as Researchers in construction management and public administration.

Author: Stephen Glaister
Publisher: Bloomsbury Publishing
ISBN: 0230214258
Category : Political Science
Languages : en
Pages : 312

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Book Description
This comprehensively revised and updated new edition of the leading text in the field provides full coverage of the historical, political and European context of British transport policy, of the new financial and regulatory regimes of the Twenty-first century and of the impact of such major new initiatives as London's congestion charge.

Author: Maura Campra
Publisher: Springer
ISBN: 1137390816
Category : Business & Economics
Languages : en
Pages : 357

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Book Description
This book is an examination of the sovereign risk and debt limit issues facing the Eurozone (crisis/post crisis) and the need for alternative mechanisms to fund the capital investment requirements of the region.

Author: Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs
Publisher: The Stationery Office
ISBN: 9780108459634
Category : Business & Economics
Languages : en
Pages : 330

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Book Description
A report that recommends a reform of the way, financial liabilities arising from private finance projects (PFPs) are treated in public accounts. It also deals with the growth in the secondary market for PFPs where investors sell on their stake in a project, in many cases once the construction period of that project has been completed.

Author: Graham West
Publisher: Routledge
ISBN: 1351723499
Category : Social Science
Languages : en
Pages : 174

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Book Description
This title was first published in 2003. The history of roads in Great Britain has not been one of steady development, but rather, one that has waxed and waned in response to social, military and economic needs, and also as to whether there have been alternative methods of transport available. Paralleling this, the technical aspects of road construction - with the one great exception of Roman roads - can be seen as a fitful progression of improvement followed by neglect as the roadmaker has responded, albeit tardily on occasion, to the needs of the road user. This text describes the technical development of British roads in relation to the needs of the time, and thereby touches upon its relation to the history of the country more generally.