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FHWA PPP RESOURCES
PPP Workshops
During 2003 and 2004 the Federal Highway Administration (FHWA), in cooperation with the Office of the Secretary of Transportation, sponsored a series of workshops on the topic of public- private partnerships (PPPs) and their applicability to the nation's highway development program. The PPP workshops were designed to educate transportation decision-makers in state and local legislatures and transportation agencies about PPPs and their potential to help leverage scarce public resources to address urgent transportation facility needs. An initial mini-workshop was held in Washington, D.C. as part of the 15th anniversary celebration of the redevelopment of Union Station as one of the nation's premier public-private partnerships. This was following by six PPP workshops in Washington/Oregon, Minnesota, Texas, Florida, California, and North Carolina.
User Guidebook on Implementing Public-Private Partnerships for Transportation infrastructure Projects in the United States.
This Guidebook is intended to assist sponsors and providers of transportation projects take the necessary steps and precautions to promote the successful delivery of PPP project while protecting the public interest, especially the ultimate users of facilities so developed.
Case Studies of Transportation Public-Private Partnership in the United States
The report focuses on PPP applications to transportation projects in the United States. It promotes greater understanding of the role of institutional facture in the implementation of PPPs.
Case Studies of Transportation Public-Private Partnership around the World
This report focuses on PPP applications to transportation projects in England, Australia, New Zealand, Hong Kong, India, Israel, Denmark, Sweden and Argentina, and provides an overview of variety of projects and approaches used to implement PPPs around the world.
FHWA Manual for Using PPPs on Highway Projects
Issued in November 2005, this manual is intended to provide a one-stop resource for States interested in pursuing Public-Private Partnerships and curious as to how Federal requirements apply. Although a summary document itself, it identifies links and references that will provide access to more detailed guidance for anyone interested in exploring a Public-Private Partnership.
Synthesis of Public-Private Partnership Projects for Roads Bridges & Tunnels from Around the World – 1985-2004
This August 2005 report presents a synthesis of a comprehensive database of highway infrastructure projects from around the world financed or delivered through some form of public-private partnership (PPP). This synthesis provides insights into the nature and extent of highway infrastructure projects that have and are being advanced through various types of PPP contractual arrangements. They also reveal the predominant types and sizes of PPP contracts used in various regions and countries around the world for developing different types of highway infrastructure, including roads, bridges, and tunnels. The results of this synthesis are intended to inform those involved in the development, funding, or delivery of highway infrastructure regarding the worldwide use of PPPs to delivery highway and other forms of public use infrastructure.
FHWA Report to Congress on PPPs
This report, issued in December 2004 by U.S. DOT, answers the questions posed by Congress and attempts to provide a resource document for States interested in using public-private partnerships as a method of procurement. The report is divided into five major sections: history and initiatives, value of public-private partnerships, impediments to their formation, stakeholder comments, and recommendations for removing those impediments. The value section is designed to help States considering public-private partnerships better understand the benefits of such an approach and some of the downsides. This report, however, is not designed to be a manual on how to use public-private partnerships as part of a State program. We have not addressed the myriad issues concerning when public-private partnerships should be used and how they should be negotiated. The report focuses on the questions posed by the House Report language and provides the background necessary to provide context for the answers to those questions.
FHWA Office of International Programs: Contract Administration: Technology and Practice in Europe
In June 2001, a team comprised of Federal, State, contracting, legal, and academic representatives traveled to Portugal, the Netherlands, France, and England. Their mission was to investigate and document alternative contract administration procedures for possible implementation in the United States.
The scan team discovered that European highway agencies appear to be better at exploiting the efficiencies and resources that the private sector offers, through the use of innovative financing, alternative contracting techniques, design-build, concessions, performance contracting, and active asset management. European agencies have created contracts that focus on the users, while seeking to allocate risk appropriately and establish an atmosphere of trust in the implementation of procedures. The United States can directly and immediately employ many European procedures to help cope with its most urgent transportation needs. The report discusses these European techniques in terms of procurement, contract types, and payment mechanisms.
The report addresses the following subjects: best-value selection, performance specifications, design-build, shadow tolls, public-private partnerships, concessions, and design-build-operate-maintain.
FHWA Innovative Finance Quarterly
This quarterly newsletter, published by FHWA, provides information on the latest developments in Federally-sponsored innovative finance programs, such as TIFIA, GARVEE Bonds, and SIB transactions. It also features descriptions of innovative projects and programs of interest launched by state DOTs around the country. The newsletter also tracks legislative changes. Copies of all issues of the Quarterly dating back to 1997 are available on the FHWA Innovative Finance website, together with copies of FHWA's earlier Innovative Finance Newsletter.
Current Toll Road Activity in the U.S.: A Survey and Analysis
PPP Letter from former Secretary Mineta to Congressman Petri
This letter from former Secretary Mineta to Congressman Thomas Petri, Chairman of the Subcommittee on Highways, Transit, and Pipelines of the U.S. House of Representatives Committee on Transportation and Infrastructure commends the committee for holding a congressional hearing on highway public-private partnerships and provides a compressive list of the various programs active within U.S. DOT that support partnership projects
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TRB PPP RESOURCES
"Let's Make a Deal" Panel Discussion
On Monday, January 10, 2005 FHWA Administrator Mary Peters moderated a panel at the Transportation Research Board's annual meeting titled "Let's Make a Deal." The session was structured as an open forum between the U.S. DOT and private sector players involved in project financing and delivery. The session focused on how the parties need to think creatively and strategically together to advance critical surface transportation projects, specifically addressing what flexibilities the key stakeholders need to bring to the table.
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FEDERAL PPP RESOURCES
Report to Congress on the Costs, Benefits, and Efficiencies of Public-Private Partnerships for Fixed Guideway Capital Projects (PDF 4 MB)
Mary Peters, United States Secretary of Transportation
Department of Transportation Activities, United States Senate, Committee on Commerce, Science, and Transportation Transportation Infrastructure Financing, United States House o f Representatives, Committee on the Budget
Douglas Holtz-Eakin, Congressional Budget Office
Congestion Pricing for Highways
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STATE DOT PPP RESOURCES
Current Practices in Public-Private Partnerships for Highway Projects
States throughout the country face serious gaps between the level of highway services demanded by citizens and businesses and the funding available to finance, construct, operate and maintain the highway system. The needed improvements would provide substantial economic benefits to the traveling public – both to citizens of the sponsoring states and to the residents and businesses traveling through these states to other destination.
The State of Maryland is exploring the potential to expand the use of public-private partnerships (P3) to deliver highway projects. Maryland has enjoyed success using the “design-build” model of P3 in several highway projects. That model would be expanded to larger projects and could encompass a broader range of project activities including the financing, planning, design, construction, operation and maintenance of highways.
Issued in July 2005, this report reviews transportation P3 initiatives throughout the US in order to gain a broad understanding of the challenges and obstacles associated with such programs. The information used in the review came from two concurrent research efforts conducted by staff form the Maryland Transportation Authority, Maryland DOT the State Highway Administration, FHWA , and KCI Technologies (the Maryland P3 Team) in 2004.
Massachusetts Transportation Commission
Building a Sustainable Transportation Financing System
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NATIONAL CENTER FOR PPP RESOURCES
PPP Final Report: Partnerships in Transportation Workshops
Based on workshop presentations, panel dialogues, and roundtable discussions, this report outlines the many lessons learned from the workshops, with an emphasis on the elements of a successful PPP project from both public and private perspectives, impediments to PPPs in surface transportation programs, and strategies for overcoming these impediments. The report also summarizes the status of PPP programs within each of the states that hosted a PPP workshop. The report concludes by discussing the impacts that the PPP workshops have had on host agencies, next steps to further promote PPPs, and available resources for sponsors of PPPs and others who are interested in developing and implementing PPP programs and projects.
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DEVELOPMENT BANK PPP RESOURCES
World Bank Private Participation in Infrastructure (PPI) Database
Released by the World Bank in September of 2007, this database identifies 108 PPP projects worth ofver $26 billion in vestment that reached financial close in 30 low- and middle-income countries. An accompanying analysis identifies activity by sub-sector and by region and also identifies possible new projects and others that have been cancelled or completed. The database follows the analysis and identifies the type of PPP arrangement that was used, the level of private equity involved, any government support that was used and the overall cost of the project, together with a description of the project and its primary sponsors.
World Bank Policy Research Working Paper 3356: Where do We Stand on Transport Infrastructure Deregulation and Public-Private Partnership?
The evolution of transport public-private partnerships (PPPs) in developing and developed countries since the early 1990s seems to be following a similar path: private initiatives work for a while but after a shock to the sector takes place the public sector returns as regulator, owner or financier; after a while the public sector runs into problems and eventually finds a hybrid solution to ensure the survival of the sector. This paper reviews the effectiveness of transport infrastructure deregulation from three angles: efficiency, fiscal and users' viewpoint. The paper emphasizes the difficulties and strong political commitments required to make the reforms sustainable and argues that governments willing to make corrections to the reform path are faced with the need to address recurrent and emerging issues in transport systems: tariff structure, quality (timetable, safety, environment), access rules for captive shippers, the trend toward rebundling and decrease in intrasectoral competition, multimodalism and the stimulus through yardstick competition.
World Bank Technical Paper No. 399, Concessions for Infrastructure: A Guide to Their Design and Award
Concession arrangements entail a myriad of legal and economic issues, including the organization of government entities responsible for concession programs and the adequacy of the broader legal and regulatory environment. The design and implementation of concession contracts that allocate risks and responsibilities and the mechanisms for evaluating and awarding projects are also of paramount importance. The government's role as regulator and as a provider of support for infrastructure concessions must also be assessed. While some countries have established extensive concession programs, others are just beginning to develop these programs. This report provides a guide to the complex range of issues and options involved in the implementation of concession arrangements, drawing on the experience of both industrial and developing countries.
Public Private Partnerships in Toll Roads in the Peoples Republic of China
This paper was prepared for the PPIAF/ADB Conference on Infrastructure Development – Private Solutions for the Poor: The Asian Perspective, Manila, 28-30 October 2002. It provides a detailed review of the toll roads program in China deals with issues that are relevant to other countries and sectors. Issues addressed include: the motivation for private participation, institutional arrangements (including the use of corporatized companies that are nominally private but in fact government-controlled), and modalities for raising finance - including securitization of toll revenues, bond issues, joint ventures and concessions. Impacts on economic and regional development and social equity are assessed. The paper recommends greater coordination in planning of toll roads to create an effective network; clearer and standardized regulatory and institutional frameworks; a greater focus on users; and a more consultative approach to resettlement and related issues.
World Bank Toll Roads and Concessions
This knowledge base deals with the general issue of toll roads. It also covers contractual options for private sector involvement (including concessions). The knowledge base covers the extent of toll road provision internationally, the objectives, benefits, and costs of a toll road program, tariff setting and development issues, and involvement of the private sector. This key issues document is based on extensive experience in the sector worldwide and follows on from the work being carried out on behalf of the World Bank and Japanese Ministry of Construction on the development of toll roads in Asia.
Seminar Proceedings for Asian Toll Road Development in an Era of Financial Crisis
This seminar was held from 9-11 March 1999 at the Tokyo International Forum in Tokyo, Japan. It brought together a wide range of leaders, decision-makers, academics, and other influential people related to toll road development, totaling 340 persons from 17 countries. The Seminar featured 18 individual speeches and presentations, as well as a comprehensive panel discussion on the last day. Seminar speakers and panelists included MOCJ and World Bank officials, foreign government representatives, academic experts from Japan and abroad, public and private sector toll road developers and operators, and specialists in the areas of toll road finance, regulation, and legal issues.
The Seminar Proceedings comprise three volumes. Volume I contains an introductory Section and eight others, one for each of the Seminar Sessions. Volume II contains background information on the seminar and its participants. Volume III contains Appendix G, a report entitled “Review of Recent Toll Road Experience in Selected Countries,” which served as the Seminar Resource Report and was given to all Seminar attendees.
Public Policy for the Private Sector 258: Unsolicited Proposals: John Hodges Competitive Solutions for Private Infrastructure
This Paper looks at systems used by some governments transform unsolicited proposals for private infrastructure projects into competitively tendered projects. It focuses on the policies that Chile, the Republic of Korea, the Philippines, and South Africa have adopted for managing such proposals. A companion discussion explores the problems associated with unsolicited proposals, especially the risks they raise for competition and transparency.
J. Luis Guasch, World Bank Institute
Granting and Renegotiating Infrastructure Concessions in Latin America: Doing it Right
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UNITED NATIONS PPP RESOURCES
United Nations, Economic Commission for Europe
Governance in Public-Private Partnerships for Infrastructure Development
2007 Guidebook on Promoting Good Governance in Public-Private Partnerships
Prepared by the Public-Private Partnership (PPP) Alliance of the United Nations Economic Commission for Europe (UNECE), this Guidebook promotes good governance in the use of PPPs and is designed to support PPP capacity-building programs especially in the transition economies. The PPP Alliance
was established in 2001 to improve the awareness, capacity and skills of the public sector in developing successful PPPs in Europe. To this end, the Alliance prepares guidelines on best practices in PPPs, as well as preparing other PPP-related educational and training materials, and sponsoring PPP conferences and workshops. The Guidelines were reviewed at an International Conference organized by UNECE and the Government of Israel with the participation of experts from different countries to provide their experience and best practice in creating good governance conditions for PPPs1. A network of experts has also been established, incorporating the experts from the former Alliance group, to implement a work program on PPPs.
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EU/INTERNATIONAL PPP RESOURCES
Guidelines for Successful Public-Private Partnerships
This document was designed as a practical tool for PPP practitioners in the public sector faced with the opportunity of structuring a PPP and of integrating or “blending” European Communities grant financing in PPPs. The report is to focus on a number of critical issues influencing the successful integration of public grants, private funds, IFI loans (such as the EIB or EBRD) and European Commission financing. Reference is made to a number of analytical techniques which are well known and documented. These are not presented with the objective of promoting a standard methodology but rather in an attempt to highlight areas in which particular care and analysis needs to be observed. The Guidelines are not designed to provide an exhaustive list of PPP structures nor present any structures as having the endorsement of the Commission. The Guidelines present five thematic parts dealing in turn with:
- PPP structures, suitability and success factors
- Legal and regulatory structures
- Financial and economic Implications of PPPs
- Integrating grant financing and PPP objectives
- Conception, planning and implementation of PPPs
Resource Book on PPP Case Studies
The growing interest in the development of PPP’s was confirmed by the request, put forward by representatives of Candidate Countries, to complement the Guidelines with examples of actual projects in order to better understand the practical implementation issues. Following this request, the Commission has developed this Resource Book, consisting of a set of case studies of PPPs in both Western and Central Europe and in various sectors including: Water and Wastewater Management, Solid Waste Management and Transport. These sectors are representative of those in which the Commission has provided grant financing. While they are not the only sectors in which PPP principles are being applied, they do provide a balance between sectors with a considerable history of PPP application such as transport and those in which it is relatively new and encountering specific issues.
Greater Wellington Regional Council
Greater Wellington Regional Road Pricing Study, 8/13/07
Pekka Leviakangas
Private finance of transport infrastructure projects Value and risk analysis of a Finnish shadow toll road project
United Kingdom Treasury
Private Finance Initiative: strengthening long-term partnerships
PPP Council of Canada
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ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT (OECD)
Transport Infrastructure Investment: Options for Efficiency
Summary PDF Version | HTML Version
Full Report PDF Version | HTML Version
This OECD report examines principles for determining the most appropriate models for investment in surface transport infrastructure. Public-private partnerships (PPPs) have attracted much attention in recent years. Appropriately designed, PPPs have the potential to allow for important efficiency gains by transferring the responsibility for long-term cost management to private organizations that are intrinsically motivated to reduce overall costs in pursuit of profits, including by way of innovation. But PPPs are complex arrangements, with many pitfalls. Much surface transport infrastructure does not lend itself to PPPs, so the true role for these instruments in the overall system has to be carefully defined. Governments are faced with a complicated set of options for investing in infrastructure. In all likelihood, different elements of the surface transport system will employ different models, including various degrees of user charging. One of the greatest challenges is in ensuring consistency across the system.
This report begins in Part I with a discussion of the overall challenge of providing surface transport infrastructure, including a description of the available models. It also provides an overview of the current situation observed around the world. Part II discusses the fundamental question of how borrowing for the creation of surface transport infrastructure should be treated in public accounts. Part III considers the potential benefits of using different models for the provision of infrastructure. Part IV looks at key questions related to the design of PPPs, particularly their legal and regulatory frameworks and procurement processes. The report is based on research by a working group of experts from 19 countries, chaired by Dr. Urban Karlström, Director General of the Swedish National Road and Transport Research Institute.
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FOUNDATION PPP RESOURCES
Protecting the Public Interest: The Role of Long-Term concession Agreements for Providing Transportation Infrastructure
Written by Jeffrey Buxbaum and Iris Ortiz of Cambridge Systematics, Inc. this paper explores the confusion and controversy surrounding long-term concession agreements has come about because they have been promoted as silver bullets, as essentially free money provided by the private sector that will not require new taxes or fees. But users of the facilities will have to pay, and how users pay will be very different from how they have paid in the past. These new models may in fact prove to be more equitable and efficient than the old methods, but the negative reaction in some quarters to the initial agreements highlights the need for careful analysis and transparency going forward. The report explores the recent long term lease transactions of the Chicago Skyway, Indiana Toll Road and other potential transactions in those two states as well as Texas, Virginia and other domestic locations. The report identifies a number of potential strategies to address public concerns regarding public sector decision making including, conflicts of interest between the public and private sectors, and how contract terms can affect price levels and pubic control.
AEI/Brookings Joint Center
Differentiated Road Pricing, Express Lanes and Carpools: Exploiting Heterogeneous Preferences in Policy Design
The Effect of Government Highway Spending on Road Users’ Congestion Costs
Robert D. Atkinson, Ph.D., President, Information Technology and Innovation Foundation
An Exchange on Building U.S. Road Capacity: Part I, 2007
Ken Orski, Innovation Briefs
Tolling Goes Mainstream, October 3, 2007
Financing Infrastructure: Conservatives vs. Innovators. November 1, 2007
Robert W. Poole, Jr., Reason Foundation
Swedish take on congestion pricing. July 22, 2007
Life in the Slow Lane. November 5, 2007
Reason Foundation
16th Annual Report on the Performance of State Highway Systems (1984–2005). June 2007
Michael Replogle, Keri Funderburg, et al. Environmental Defense
Money Out the Window. Using Road Tolls to Cut Congestion, Protect the Environment and Boost Access for All
Reason Foundation Annual Privatization Report 2005
In its 19th year of publication, Reason Foundation's Annual Privatization Report helps policy- and opinion-makers understand the fast-moving arena of privatization, outsourcing, and government reform. The report address various forms of public infrastructure. The “Surface Transportation” section provides excellent information on PPP developments including:
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RATING AGENCY PPP RESOURCES
Public-Private Partnerships: the Next Generation of Infrastructure Finance
Prepared by FITCH, this technical paper investigates infrastructure requirements in developed and developing nations and finds that they are beginning to exceed available financing resources. This funding gap has lead to widespread acceptance that the private sector, in partnership with the public sector, might have to play a larger role in infrastructure financing. This role could be active - in the form of project sponsorship - or passive - in the form of an institutional bond investor. This paper sees more promise in the latter role. A 'new generation' of public-private partnerships (PPPs) is described, wherein project credit risk is pooled through infrastructure banks and layers of credit enhancement are added to engage domestic debt markets. The role of the private sector in such arrangements is to act as the financial engineers, creating enhanced investment vehicles and stimulating the efficient use of capital. For such partnerships to truly succeed, host countries will need to promote a relatively stable macroeconomic environment, develop a legal and regulatory framework for infrastructure projects, and foster the development of a domestic debt market. Until such conditions have been achieved, multilateral and development banks will still have a significant role to play in project financing.
Project Finance Summary: Debt Rating Criteria
Standard and Poor's provides a comprehensive review of the risks facing project-financed infrastructure, from the perspective of a lender. A rigorous framework is presented. Project-level risks include construction, operations and technology risk, as well as contractual design. Also relevant to the overall risk assessment are sovereign risk, level of legal institutional development and force majeure. Credit enhancements such as guarantees and escrow accounts are discussed. By describing the factors important to lenders to infrastructure projects, this document will help project designers ensure that their projects are financeable.
Fitch Ratings
Global Toll Road Rating Guidelines
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ACADEMIC RESOURCES
"Successful Delivery of Public-Private Partnerships for Infrastructure Development.” Journal of Construction Engineering and Management, American Society of Civil Engineers, ASCE, 133(12), 918-931. Abdel Aziz, A. M (2007). < >
Two common approaches have been used by governments for the implementation of public-private partnerships (PPPs): a finance-based approach that aims to use private financing to satisfy infrastructure needs, and a service-based approach that aims to optimize the time and cost efficiencies in service delivery. The implementation of PPPs, however, may suffer from legal, political, and cultural impediments. In the United States, the federal government enabled a number of acts to ease the impediments and promote PPPs for infrastructure development. Based on a detailed analysis of PPPs in the United Kingdom and British Columbia, Canada, this paper describes principles that would characterize the implementation of PPPs at the program level (e.g., whether the implementation is successful). The principles pertain to the: availability of a PPP legal framework and implementation units; perception of the private finance objectives, risk allocation consequences, and value-for-money objectives; maintenance of PPPs process transparency; standardization of procedures; and use of performance specifications. Guidelines for successful implementation are explained and discussed in the context of the United States PPPs experience and impediments.
“A Survey of the Payment Mechanisms for Transportation DBFO (PPP) Contracts in British Columbia” Journal - Construction Management and Economics, 25(5), 492-543 (London, UK). Abdel Aziz, A. M (2007).
In traditional project delivery systems, payment mechanisms provide compensation for the work performed using construction capital payments. In the alternative public–private partnership (PPP) systems, payment mechanisms follow the selected PPP system. For example, the build–operate–transfer system provides compensation based on project demand using real-tolls usage payments; the design–build–finance–operate (DBFO) system provides shadow-tolls usage payments; and the performance-based DBFO system provides compensation based on contractor’s performance using service availability payments. Designing the payment structure is an important task where several factors have to be considered. This paper analyses the implementation of payment mechanisms in a number of DBFO transportation projects in BC, Canada, in terms of payment structure, payment types and characteristics, determination and funding. The analysis provides insights for the design of payment mechanisms. The analysis shows that more payment types are being used and that the mechanisms are designed to achieve specific government objectives. The analysis refers to a new ‘hybrid’ payment mechanism with elements derived from the traditional and the PPP systems. The hybrid system may have potential to minimize the overall project cost; however, agencies have to be flexible in the delivery concepts as combinations of payments for inputs, usage and services might have to be used.
“A Structure for Government Requirements in Public-Private Partnerships” Canadian Journal of Civil Engineering, 28(6), 891-909. Abdel-Aziz, A. M. and Russell, A.D. (2001).
A spectrum of requirements for the procurement of public infrastructure under various public–private partnership arrangements has been communicated by governments to the private sector participants. This paper suggests a structure for these requirements and demonstrates how they have been realized in public–private partnership projects. Government requirements are categorized and described under a structure of three dimensions: rights, obligations, and liabilities. Each dimension is further defined and explained through a number of attributes. The structure provides insights as to the basis for the different modes under public–private partnerships such as build–operate–transfer, build–own–operate–transfer, and build–transfer–operate. The structure is used to examine government requirements in a number of public–private partnership transportation projects. The results show that, for each dimension and its related attributes, comprehensive and clear articulation of government requirements is generally needed. This will reduce the amount of supplemental materials issued for the request for proposals, help consortiums in responding with proposals that can fit the requirements and reduce the amount of time spent in negotiations and (or) the need for contract amendments to reflect marketplace realities missed earlier.
Robert H. Frank, Cornell University
Opinion: A Sensible Solution to Thin Traffic, and One for Easing Concerns About Fairness, 5/10/2007
Bumsoo Lee and Peter Gordon, University of Southern California
The U.S. Context for Highway Congestion Pricing. September 30, 2006
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INDUSTRY JOURNALS AND PERIODICALS
Public Works Financing
Public Works Financing newsletter's specific focus since 1988 has been on public-private partnerships in infrastructure finance. Its experienced editorial staff provides projects leads, detailed project case studies, news analysis, business and political trends, plus a directory of 36 of the industry's most experienced consultants. In addition to monthly issues, PWF publishes a database each October of over 2,200 PPP projects that are planned, being built or operating around the world.
Infrastructure Journal
Infrastructure Journal is a British publication and website dedicated to PPPs across all sectors. Infrastructure Journal also prepares PPP case studies and organizes conferences. It is an international forum with 29% of its reader distribution in Europe , 17% in Asia , 31% in North America , 18% in Latin America , and 5% in the Middle East and Africa . Its readership includes public officials, lawyers, consultants, contractors, commercial lenders, multilateral and bilateral lenders, development agencies, and project sponsors and developers.
Innovation Briefs
For the past sixteen years INNOVATION BRIEFS have provided transportation policy analysis for legislators, public officials, business leaders, newspaper editors and transportation professionals. The Briefs' critical commentaries and incisive analysis of current events keep our readers in touch with events, trends and ideas in the transportation world. Innovations Briefs are published by the Urban Mobility Corporation (UMC), a Washington-based consultancy established in 1982 specializing in transportation management and technology transfer.
The Bond Buyer
The Bond Buyer is the definitive source of up-to-date information on bond offerings in the United States . It is available by subscription only, in both on-line and paper format. The paper is updated daily.
Project Finance Magazine
Project Finance provides strategic information, news, and forecasts and trend analysis on the project finance markets. It contains features on countries, infrastructure surveys by region and sector, and agency and development bank news. It offers periodic industry- and region-specific special issues and maintains a team of 22 journalists who track current developments around the world.
TOLLROADSnews
TOLLROADSnews, a publication specializing in tolling, describes this emerging service business and documents the debates and controversies. It provides descriptions of new toll projects around the world, analysis of political, legal, and economic problems of toll projects, information on toll technologies, and reports on ongoing operations of toll agencies and projects.
Wall Street Journal
Published by Dow Jones & Company, Inc., the Wall Street Journal is one of the most respected daily financial newspapers in the world. It carries information on all aspects of finance and is used as a reference by nearly all financiers.
Engineering News Record (ENR)
ENR, the weekly engineering industry magazine, has online access. Recent articles are listed by topic, such as transportation or finance. The site also provides up to date construction pricing information, indicating recent cost trends for key construction materials.
AASHTO Journal
American Association of State Highway Transportation Officials (AASHTO) Journal is a weekly publication that covers legislative and regulatory news on transportation. The AASHTO site search engine references previous volumes of the journal but without specific article references.
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PPP BOOKS
Achieving Public Private Partnership in the Transport Sector
This is the first volume in a series sponsored by the Diebold Institute for Public Policy Studies. The book reviews the history of transport partnerships around the world and provides detailed case studies of three recent partnership projects:
- The M1/M15 Motorway in Western Hungary, a 56.3-kilometer, US $330 million facility;
- The Vasco da Gama Bridge, a 12.3-kilometer, US $1.0 billion bridge in Lisbon, Portugal
- The Bangkok Mass Transit System, a 23.7-kilometer, US $1.5 billion elevated rail mass transit system in the Thai capital
Research for the book has been assembled through interviews with financial advisers, bankers, construction companies, investors, government officials, development banks, academicians, and journalists, together with the review of primary project documents and other written materials.
Representing a case of failure, a case of success, and one whose fate has not yet been determined, the cases offer rich comparisons. They have been shaped by differing cultural expectations and economic conditions. They have also benefited from the commitment of creative supporters and been subjected to changing political winds.
International Project Financing
This book deals with the legal issues encountered when negotiating and drafting agreements relating to project finance, and is designed for general use throughout the world rather than any particular country. The book is printed in loose-leaf form and is updated annually. It provides a chapter-by-chapter analysis and discussion of the different issues involved in project finance, together with contract forms that represent a collection of documents used around the world.
Going Private: The International Experience with Transport Privatization
Going Private examines the diverse privatization experiences of transportation services and facilities. Cases are drawn from the United States, Asia, Europe, and Latin America. Since almost every country has experimented to some degree with highway and bus privatization, the authors focus particularly on these services, although they also discuss urban rail transit and airports. Highways and buses, they explain, encompass all three of the most common and basic forms of privatization: The sale of an existing state-owned enterprise; use of private, rather than public, financing and management for new infrastructure development; and contracting out to private vendors public services previously provided by government employees.
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