Ervaringen met private financiering in het buitenland

Transcription

1 Ervaringen met private financiering in het buitenland Discussiemiddag Railforum 17 mei 2018 Joost Bolck, Business Development Manager

2 Mott MacDonald

3 staff Railforum - private financiering railprojecten buitenland 3 17 mei 2018

4 Our sectors Advisory Built environment Energy International development Transport Water Railforum - private financiering railprojecten buitenland 4 17 mei 2018

5 Principal offices and staff 8220 Europe 2250 North America 1070 Asia Pacific 1500 Asia Subcontinent 60 South America Middle East 530 Australasia Africa Railforum - private financiering railprojecten buitenland 5 17 mei 2018

6 Mott MacDonald BV Netherlands Based in Arnhem and The Hague, Utrecht 100 staff 1. International Development 2. (Light) Rail 3. Infrastructure Finance 4. Energy - Power 17 mei 2018 Railforum - private financiering railprojecten buitenland 6

7 Rol Mott MacDonald in PPP-projecten: LTA Legal Advisor Technical Advisor Public sector Financial Advisor Financial Advisor Insurance Advisor Financial Advisor Legal Advisor SPV Lenders Specialist Advisors Legal Advisor Technical Advisor Railforum - private financiering railprojecten buitenland 7 17 mei 2018

8 Ervaringen met private financiering van Railprojecten in het buitenland

9 Belangrijkste componenten van een spoorsysteem Key Components Infrastructure Rolling Stock People / Services Railways Track (+ tunnels, bridges, cuttings, embankments) Signalling, Power, Safety Systems Stations & Maintenance Facilities Locomotives Carriages / Wagons Train Operations Train Maintenance Train Cleaning Infrastructure Maintenance Railforum - private financiering railprojecten buitenland 9 17 mei 2018

10 PPP in railprojecten Concession Finance, Build & Maintain Rail Line Operate & Maintain Rail Line Finance, Build & Maintain Trains Operate & Maintain Trains Infrastructure Build & Maintain Private Maintain Private Operate Public Public Public Infrastructure Build, Maintain & Operate Private Private Public Public Train Availability Contract Public Public Private Maintain Private Operate Public Train Maintain & Operate Public Public Private Private Fully Integrated Concession Private Private Private Private 17 mei 2018 Railforum - private financiering railprojecten buitenland 10

11 PRIVATE FINANCE Voorbeelden uit de UK PFI / DBFO Model Nottingham Express Transit 1&2 (2004) DLR Model DLR Initial (1987) DLR Bank Extension (1991) DLR Becton Extension (1994) DLR Lewisham Extension (2000) DLR City Airport Extension (2005) DLR Woolwich Arsenal Extension (2008) DLR Stratford International Extension DLR Barking Reach Extension DBFO Model Manchester Metrolink 2 (2000) Croydon Tramlink (2000) Manchester Metrolink 3 Leeds Supertram South Hants Rapid Transit Traditional Tyne and Wear Metro Initial (1980) T&W Airport Extension (1991) T&W Sunderland Extension (2002) Sheffield Supertram (1994) Merseytram Line 1 Edinburgh Tram DBOM Model Manchester Metrolink 1 (1992) Midlands Metro 1 (1999) 17 mei 2018 Railforum - private financiering railprojecten buitenland RISK TRANSFER 11

12 Civil Infrastructure only: Liefkenshoek Spoorverbinding Antwerp, Belgium New freight line to connect docks east of Schelde river to docks west of river capital-intensive specialised construction DBFM contract for provision of civil infrastructure only Tracks, power supply and signalling installed subsequently by Infrabel Tuned to civil skills of the Contractor Availability Mechanism

13 Civil Infrastructure and Electromechanical Infrastructure: Brabo 1 Tram Antwerp, Belgium New line to extend existing tram network In-street system requires close integration between civil works and tram system works DBFM (PPP) contract for provision of civil and electro-mechanical infrastructure only Tram vehicles and operation provided by existing Tram provider Consortium to provide civils skills and tram systems skills 13 Availability Mechanism

14 Full Tram System: Liège Tram, Belgium New tram system No existing system, so full provision required, including rolling stock DBFM (PPP) contract for provision of infrastructure and rolling stock System operation provided by city transport authority Consortium to provide civil infrastructure skills and tram systems/rolling stock skills Availability Mechanism

15 Rolling Stock: New Generation Rail Queensland, Australia Existing railway infrastructure Requirement to provide new Rolling Stock and maintenance facilities Running on existing infrastructure Issues of bankability due to very high service levels demanded with manufacturer struggling to provide supporting data Availability Mechanism 15

16 Revenue risk: High Speed 1, UK Existing railway infrastructure Fully operational providing track access to train operating companies Government auction of exploitation rights Limited cost-risk Excellent data on historic usage / revenue Revenue derived directly from users

17 Charles de Gaulle Express Airport connection between Airport Charles de Gaulle and Gare de L est Rolling Stock Operations Depot Railforum - private financiering railprojecten buitenland mei 2018

18 18 Andere vormen van private participatie

19 Crossrail Canary Wharf station funded by Canary Wharf Group 17 mei 2018 Railforum - private financiering railprojecten buitenland 19

20 Crossrail Woolwich station partly funded by Berkeley Homes 17 mei 2018 Railforum - private financiering railprojecten buitenland 20

21 17 mei 2018 Railforum - private financiering railprojecten buitenland 21

22 Succesfactoren Railforum - private financiering railprojecten 17 mei buitenland

23 Succesfactoren 1. Nut en noodzaak helder 2. Technisch en contractueel op orde Raakvlakken Planning Risicoverdeling 3. Wil om samen te werken Railforum - private financiering railprojecten buitenland mei 2018

24 Private financiering van railprojecten is complexer dan andere infraprojecten, omdat het meer disciplines betreft en zich in stedelijke omgeving bevindt

25 Thank you Joost Bolck

26 We open opportunities with connected thinking. Railforum - private financiering railprojecten buitenland mei 2018

27 Engineering. Management. Development. Railforum - private financiering railprojecten buitenland mei 2018

28 PPP basics mei 2018

29 PPP vs traditional procurement Public Sector Schemes v PPP Value for Money Public Scheme Construction costs Operating costs Risks Retained by Public Sector + Risk + Risk Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Year 30 Contract End Private Finance Scheme Annual payment for asset service provision (inc repayment of capital) Base Case Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Year 30 Contract End PPP PSC Railforum - private financiering railprojecten buitenland mei 2018

30 PPP theoretische voordelen PPP can mitigate the affordability gap More scope for Value for Money through innovation Higher levels of, and more appropriate, risk transfer Suitable for large projects and programmes significant efficiency of scale savings Incentives for third party revenue Focus on whole life costs, outputs and service delivery Projects nearly always completed on time Leaves professionals free to provide core services Railforum - private financiering railprojecten buitenland mei 2018

31 Risico s die aan private partijen kunnen worden overgedragen Design and Planning Risk Programme Risk Construction Risk (costs and disputes) Operational Risk (services performance) Demand / Revenue Risk Ground Risk Commissioning / Transition Risk Maintenance Risk Availability Risk Railforum - private financiering railprojecten buitenland mei 2018