FINANCING NEW INFRASTRUCTURES: PUBLIC/PRIVATE PARTNERSHIPS AND PRIVATE FINANCE INITIATIVES. IN: MOVING PEOPLE, GOODS, AND INFORMATION IN THE 21ST CENTURY: THE CUTTING-EDGE INFRASTRUCTURES OF NETWORKED CITIES

This chapter on financing new infrastructures is from a book on moving people, goods, and information in the 21st century. The authors discuss integrated procurement strategies that combine private-sector management and financing and which have formed the core of hundreds of public projects in the United Kingdom. These transactions are referred to as PFIs (Private Finance Initiatives) or PPPs (Public Private Partnerships); the PPP structure creates a stand-alone business that develops, finances, and operates an asset in return for a payment generally over a period of twenty to thirty years. The authors describe the features of PPP/PFI contracts and then, by focusing on their most expansive undertaking to date, the London Underground PPP, the authors address the issues that will likely define the range of viability for such structures as the market continues to develop. The authors conclude by extolling the virtues of the PPP approach, while explaining why it is not appropriate for a project such as the London Underground. They note that investments that can be easily specified with a high degree of confidence, in which high-risk activities such as construction can be managed in the early phases of the project, and where the operating and maintenance phases are well-understood and easily priced, are ideal candidates for the PFI/PPP approach.

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• Corporate Authors:

  Routledge

  270 Madison Avenue
  New York, NY  United States  10016
• Authors:
  • Walder, J H
  • Amenta, T L
• Publication Date: 2004

Language

• English

Media Info

• Features: Figures; References; Tables;
• Pagination: p. 79-97
• Serial:
  • Publication of: Routledge
  • Publisher: Routledge

Subject/Index Terms

• TRT Terms: Construction management; Financing; Infrastructure; Metropolitan areas; Multimodal transportation; Policy, legislation and regulation; Public private partnerships; Public works; Risk analysis; Risk assessment; Transportation
• Identifier Terms: London Underground
• Geographic Terms: London (England)
• Subject Areas: Economics; Finance; Planning and Forecasting; Society; Transportation (General); I10: Economics and Administration;

Filing Info

• Accession Number: 00985107
• Record Type: Publication
• ISBN: 0415281210
• Files: TRIS
• Created Date: Jan 24 2005 12:00AM