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Vanilla Essence
01 August 2003
What was a political debate in many developing markets has now
turned into solid PPP deal flow. But markets are not developing as mirror images of the UK. By Frances Jones.
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[PPP]
[PFI]
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The pace of public-private-partnership (PPP) across the globe has
accelerated rapidly in the past year ? particularly in continental
Europe. In France, the government has just opened tender for
advisory on a Eu1 billion 18-prison programme. In Spain and
Portugal new PPP framework laws were issued in May ? the former
designed to stimulate major transport infrastructure development
and the latter to get PPP into service sectors like health and
prisons. In Norway and Ireland the first toll road PPPs are
currently in syndication. And in Italy the first hospital package
has been announced.
Even the US has witnessed the close of its first PPP ? the $639
million SR125 toll road in southern California sponsored by
Macquarie Infrastructure Group and arranged by BBVA and Depfa Bank.
The current PPP thrust takes two forms. In the developed markets,
PPP is filtering down to ?bread and butter? second tier markets
where deals are small but...
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