Basic Concept of Availability Payment and Case Study in Japan

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1 Basic Concept of Availability Payment and Case Study in Japan December 20 th, 2016 KPPIP Support Facility

2 Table of Contents 1. Basic Concept of Availability Payment 2. Case Study in Japan

3 Two Types of PPP Project PPP TYPE SERVICE and REVENUE DEMAND RISK User Pay (Typical BOT) Project Company Service Tariff/Fee Users/Beneficiaries Typically, demand risks rest with PRIVATE SECTOR GCA Availability Payment AP Project Company Service Users/Beneficiaries Tariff/Fee Typically, demand risks rest with PUBLIC SECTOR

4 CharacterisTcs of Availability by Sector? Sector CharacterisIcs of Availability Payment Criteria 1. Electricity Power plant is ready to generate electricity 2. Toll Road Road lanes are available for road users 3. Water Supply Water treatment plant is ready to treat water 4. Public Hospital Public hospital facility spaces are available with supportng services 5. Public Housing Public housing facility spaces are available with supportng services Based on generaton capacity Based on number of available lanes Based on treatment capacity Based on available space area with supportng services Based on available space area with supportng services

5 CharacterisTcs of Availability Payment Scheme Number of Contracts Typical Contract Year ConvenIonal Scheme Several (Design, ConstrucTon, OperaTon, Maintenance) ConstrucTon (1-3 years) Maintenance (Every year) AP Scheme Only One (PPP/AP Contract) Years Typical Risk AllocaTon Public Risks (ConstrucTon, O&M, Demand, etc) are transferred to Private Financial Source for ConstrucTon Service SpecificaTon and Monitoring Fiscal Burden/ Payment Schedule Public Input SpecificaTon and Public Sector Monitoring Amount ($) Top Heavy Private Output SpecificaTon and Performance Monitoring with Self Monitoring based on pre- agreed Parameters Flat and Pay as Service Delivery Amount ($) Time Time ConstrucTon OperaTon ConstrucTon OperaTon

6 Payment Profile of ConvenTonal Scheme and Availability Payment ConvenIonal Scheme Top heavy financial burden ConstrucTon overrun risk and Tme overrun risk born by public sector O&M cost over run risk and service delivery risk born by public sector Flat financial burden ConstrucTon overrun risk, Tme overrun risk, O&M cost over run risk and service delivery risk transferred to private sector O&M cost managed by life cycle cost basis AP Scheme

7 SelecTon Criteria is Value for Money Necessary Expenditure for Private (Project Life Cycle Cost)* VFM Investment Cost O&M Cost Interest Tax Dividend etc. AP Scheme ConvenTonal Scheme *The cost include risks which private would take. This total amount shall be bidding price for investors

8 Comparison of Value for Money Public Expenditure of ConvenIonal Scheme $ ConstrucTon Payment Total Expenditure O&M Payment Risk/ConTngency owned by public Year 260 Public Expenditure of APS No constructon payment $ Availability Payment Risks are transferred and managed by private. Total Expenditure Year AP shall be reduced if service level become lower than contracted level which will be monitored daily basis. 8

9 Source of VFM OpImal Risk AllocaIon CompeIIon among Bidders IncenIves and PenalIes A risk shall be allocated to the entity who can best able to manage it. * Too much risk transfer to the private undermines achieving the highest VFM. A sound competition help realizing least pricing and innovations for delivering quality services. * Single source selection and direct appointment undermine achieving the highest VFM. A project company shall be well motivated through out all project phases. * Moral hazard of Project Company undermines achieving the highest VFM. This is all up to project management by GCA Capacity development of GCA staff is essential.

10 Advantage of Availability Payment (AP) Scheme (AP vs. User Pay) AP scheme makes the project Bankable even demand is unstable Even demand is unstable, private would receive stable income (AP)=> Akract more investors => Higher competton => Lower project cost Private will receive stable income (AP) => Lower demand risk premium * => lower project cost AP is applicable for the projects with economically feasible and strategically desirable but not commercially viable (User pay => X ) Social infrastructure such as public housing, public hospital, etc. (AP vs. ConvenIonal) AP can reduce inital financial burden for public through flat and scheduled payment Achieve more infrastructure services with same budget size Best value for money can be achieved by AP AP can reduce life cycle public expenditure and increase quality of public service by utlizing private sector know- how and performance based payment * Private would borne Availability Risk but controllable for private.

11 Role of GCA (Local Government) Feasibility study for applicaton of APS Land acquisiton Bid preparaton, including development of output specificaton and drap PPP/AP Agreement ApplicaTon of subsidy and guarantee (as necessary) Carrying out bid and closure of PPP/APS contract Project performance monitoring Securing yearly budget and payment to Project Company

12 Key to Success Strong commitment and initatve of the head of GCA as Project Champion Capacity development of GCA staff is essental

13 Table of Contents 1. Basic Concept of Availability Payment 2. Case Study in Japan

14 Case Study 1: Fukuoka City New Children Hospital - Outline - Fukuoka City New Children Hospital GCA Fukuoka city Facility Hospital bldg. 26,000 m2(floor area) / 260 beds Nursery house 300m3 Family house 2,000m2(bldg. area) SOW Contract period Contract Amount Features Facility development and maintenance for new hospital Oct Nov (approx. 15 years) approx billion JPY ( IDR 1.8 trillion IDR *) AP system includes bonus point * 1 JPY = 118 IDR Hospital Exterior AutomaTc RegistraTon Hospital Hall way Heliport Schedule: PublicaTon Oct SelecTon of project as PFI Dec.2009 RFP Issue Feb SelecTon of winning bidder Aug.2011 Contract agreement Oct.2011 OperaTon Nov Nov.2029 (15 years) Family House Lobby Family House Kitchen

15 Case Study 1: Fukuoka City New Children Hospital - Background - Current Fukuoka City Children Hospital building is already 30 years old and the size became to small to deal with the increased number of patents Fiscal conditon of Fukuoka city did not allow huge constructon expenditure for new hospital => New Children Hospital building is required to construct with the most cost effectve method

16 Case Study 1: Fukuoka City New Children Hospital - Project Scheme - Fukuoka City Insurance Co. PFI Contract AP Bank Loan Repayment SPC Invest Dividend Investor Private Business Maintenance fee CAPEX Maintenance Co. ConstrucTon Co. CorporaIon Company Yamashita Sekkei Architecture design Matumoto- Gumi CorporaTon ConstrucTon Setsubi Hoshu Center Facility maintenance Asou Hospital management Koyo Medical, welfare service Shareholder Property Trust CorporaTon Building maintenance Toda CorporaTon ConstrucTon Kyudenko Facility design and constructon

17 Case Study 1: Fukuoka City New Children Hospital - Scope of Work for Private Company - Hospital OperaTon Hospital Management Medical Service DiagnosTc, ExaminaTon and Treatment by Doctor Medical Support Service Laboratory Equipment Management SterilizaTon / Medical Gas DisinfecTon Maintenance Catering PaTent Transfer Linen Cleaning Nursing Hospital Opera2on Service AdministraTon Material Procurement and Management RecepTon Medical AccounTng Medical Fee Claiming Imaging Physiological Test Hospital ConstrucTon Pharmacy Medical Equipment Building Facility Land Facility Maintenance Security Scope of Private Co.

18 Case Study 1: Fukuoka City New Children Hospital - Points of ConsideraTon - 1. Work split between public and private If more services (e.g. medical support) are included into the scope of work for private, there are more room for service improvement. However, the operatonal coordinaton between public and private will be more complicated. 2. Co- work arrangement between public and private Since public and private work together within the same hospital, it is very important to have good co- work framework and rules. 3. Private business opportunity If the hospital locates in the middle of big city, there is a possibility for integraton of private profitmaking facilites (e.g. hotel for patent s family, residence for patents who required regular dialysis treatment), which may decrease cost for public.

19 Case 2. New Toshima Ward Office (Non AP, Advanced Scheme) - Overview - Toshima Ward PopulaTon: 284 thousand Project: Complex of Ward Office and private housing (apartment) Total floor area 95 Thousand square meters: Ward Office 25 Thousand square meters Project Scheme: Urban RenovaTon Project (NOT using ordinary public procurement) Project cost: Approximately JPY 22 Billion (2.8 Trillion IDR) for Ward Office but Toshima Ward using no cash for this project Project ConsorTum: Toshima Ward and Real estate company

20 Case 2. New Toshima Ward Office (Non AP, Advanced Scheme) - Simultaneous development of Old and New Sites - Before Aper Site for Old Office ExisTng Building Demolish Old Toshima Office City Hall Office Theater Shops Public Public Lease land for 77 years to Private New Building Site for New Office Elementary School Demolish Children s House Demolished Individual Houses Residence Public Public Private Ownership of land change to ownership of building New Toshima Office Co- share of land Private

21 Case 2. New Toshima Ward Office - Flow of Cash for Gov t Office ConstrucTon - 11F- 49F Old Gov t Office Residence Payment for land co- ownership from residence Payment for land lease from private company 1F- 9F New Gov t Office NaTonal Gov t subsidy for redevelopment => Toshima ward gov t was able to construct new office building without actual spending.

22 APPENDIX

23 Outline of PPP AP Capacity Development Module Module Title Major Contents I II III IV Basic Principles and Mechanism of AP Case Studies for Various Sectors ApplicaTon Gevng Started: PreparaTon and ImplementaTon of AP in Local Governments Advanced: InnovaTve Methods/ Financing for AddiTonal Value CreaTon 1. Purpose and Features of PPP/AP 2. Project Structure of AP 3. Basic Mechanism of Availability Payment 4. Understanding VFM (Value For Money) 5. Role of GCA and Key to Success 6. Securing Bankability 1. Hospital (Fukuoka) 2. Water Supply (Yokohama) 3. Public Housing (Kyoto) 4. Airport Apron (Haneda) 5. Railway/ LRT (Bangkok) 1. Overview of Availability Payment Regulatory Framework in Indonesia 2. Required RegulaTons in Local Government 3. Project PreparaTon 1. Air Rights Selling to Private 2. Power and Heat Supply(Waste to Energy) 3. Transit Oriented Development 4. Land Readjustment 5. Hybrid Financing

24 Facility Map Fukuoka City New Children Hospital Parking Hospital Heliport Entrance Entrance Island city central park

25 Scope and Criteria of Output SpecificaIon Fukuoka City New Children Hospital Facility Development Maintenance management Commercial facility operaion Required facility and specificaton 1. Low level with roof garden 2. Surgery faculty, Perinatal Medical Center, PICU (Pediatric Intensive Care Unit) and HCU (High Care Unit) are on same floor 3. OutpaTent service on ground floor 4. ExaminaTon room: 3m x 4 m 5. Sleeping room next to central treatment room 6. Interview room near the entrance 7. Heliport 8. Cleanliness level: level I- IV Required work 1. Manual preparaton 2. Rehearsal 3. Regular repair and replace 4. Planned Repair 5. Energy management and supervision: CalculaTon and analysis for energy consumpton 6. ReporTng: Management of ledger and takeover manual Basic policy 1. Contribute to all user s convenience visitng the hospital 2. Financially independent 3. No bad influence to the hospital Component 1. Shops 2. Café, restaurant 3. Vending machine 4. Coin laundry 5. Locker 6. Post 7. ATM 8. Telephone room

26 Monitoring and Payment Fukuoka City New Children Hospital Performance Parameter (PP) for the evaluaton is categorized in four zones, S, A, B and C. Bonus point is given for the zone A, and penalty points is given for the zone B and C. The amount of AP except for the lump sum porton, will be calculated based on the summaton of bonus points and penalty points EvaluaIon Zone Zone Gold Blue Yellow Red EvaluaTon S Well SaTsfied A SaTsfied Enough B Need to Improve C UnsaTsfied Bonus Point and Penalty Point Level Bonus Point Penalty Point 1 1 Point (=0.5% for the original AP) 2 Point 2 2 Point 3 Point 3 3 Point 5 Point CalculaIon *In case (Bonus Point Penalty Point) is plus, the points will be carried forward to the next quarter and be valid in one year

27 AP ComposiIon Fukuoka City New Children Hospital 1 2 Facility development cost (Lump Sum porton) Facility development cost (Installment porton) AP Contents Time Facility development cost (except for commercial facility) 3 Equipment procurement cost Equipment procurement cost 4 Commencement and overhead cost during facility development 5 Installment interest Commencement cost Fixture cost Overhead during facility development Interest during maintenance Profit and tax 6 Maintenance cost Facility management cost 7 Maintenance cost (Repair) Planned repairing cost Lump sum at transfer Every quarter aper transfer Lump sum at transfer Every quarter aper transfer Every quarter aper transfer Every quarter aper transfer Every year aper transfer 8 Other cost Other management costs of SPC -

28 AP Schedule Fukuoka City New Children Hospital Contract Amount: approx 15.5 billion JPY ( 1.8 trillion IDR) Payment AP Schedule Equipment procurement Maintenance (Repair) Maintenance (Repair) Maintenance (Repair) Facility development Facility development (Lump Sum porion) Maintenance Commenceme nt and overhead Facility development (Installment porion) Maintenance Commenceme nt and overhead Facility development (Installment porion) Year Maintenance Commenceme nt and overhead Facility development (Installment porion)

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