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Latest Transport Analysis
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Ecuadorian PPPs – some progress
Transport Latin AmericaLatin America is increasingly looking at the PPP model as a way of facilitating private investment in new infrastructure. Ecuador is no exception to this trend
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Infra funds – pride before the fall
Transport EuropeSince the beginning of time, the masses have been enthralled by building higher and bigger… a hubristic trait that usually ends badly and is repeatedly played out in the infrastructure funds space. This is why our quarterly report on fundraising by global infrastructure funds has so many in the industry predicting doom
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Sharing “spillover tax revenue”: a revolution in infra
Transport Asia PacificIndia’s new national broadband network could be the first project to enact an entirely new concession model, one which could revolutionise infrastructure finance
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The great North American job hunt
Transport North AmericaFew things set tongues wagging faster in the infrastructure community than recruitment trends, bonuses and salaries. While most folk like to benchmark careers against their peer group – frequently sucking the wind out of many a sail – everyone wants to know who is going where
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Revolving doors whip up a storm
Transport EuropeWith bonuses now having been trousered by many London infrastructure bankers, the resignation season is in full swing as people ready themselves for new challenges or ease into the salaried luxury of gardening leave
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Trillium Line Extension P3, Canada
Transport North AmericaThe Trillium Line Extension DBFM project in Ottawa reached financial close in April with SNC-Lavalin – through its wholly-owned subsidiary TransitNEXT – selected to build the project. This was despite grumblings from competing teams that it failed to meet the minimum technical score of 70% set out in public documents provided by city officials
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UAE procurement – on the brink of change
Transport MENAThe lack of a full PPP programme has held back international private investment for years. To change this Abu Dhabi recently implemented a new PPP law
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Autopista al Mar 1, Colombia
Transport Latin AmericaColombia's Autopista al Mar 1 project - the largest of the 4G road programme - reached financial close in March 2019, making it the second project to close since president Iván Duque took power in 2018
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Institutional investors – doing it for themselves
Transport EuropeThere’s a growing trend in the infrastructure community for institutional investors to “go it alone”, eschewing the services of fund managers as they deploy big tickets across the global market
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EXCLUSIVE New South Wales’ Regional Rail PPP, Australia
Transport Asia PacificThe Momentum Trains consortium achieved financial close on 15 February for the Regional Rail PPP in New South Wales, with a group of international banks providing debt with a novel amortisation schedule, while the NSW government has given itself the option to terminate or extend the O&M concession at year 15
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Wales & Borders rolling stock, UK
Transport EuropeArriva's 15-year Wales and Borders franchise came to in October last year
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Tłı̨chǫ All-Season Road P3, Canada
Transport North AmericaThe Tłı̨chǫ All-Season Road P3 project reached financial close in February. Despite being procured as a P3 with the typical DBFOM model, there are no banks involved, the private developers are providing a small percentage of the equity and a large chunk of the financing is being provided by the government
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Infra fundraising – oops we did it again
Transport EuropeIt’s unseemly to crow about one’s victories in the heavily-contested area of data gathering on fundraising by unlisted, global infrastructure funds… but sadly, it’s also irresistible. Over the course of 2018, IJInvestor logged final close on $104 billion raised by funds – closed- and open-ended, with equity and debt strategies – putting us a country mile ahead of our rivals
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AMLO's new Mexican infra reality
Transport Latin AmericaThe cancellation of major projects and a lack of clarity on government plans are making international investors nervous about Mexico though the country's infrastructure need is still significant
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Investment in India gathers momentum
Transport Asia PacificIJInvestor data shows that international funds and institutional investors are already active in the market. There are 36 active funds focusing solely on India with a target of investing over $90 billion of capital
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Charged with uncertainty - EV charging infra
Transport EuropeVarious public and private led funds are being raised in early 2019 targeting electric vehicle charging infrastructure. Private investors are battling with oil majors and energy utilities for dominance of this nascent market, as appropriate financing structures remain up for debate
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Infra fund dilemma – blame the pig or the feeder?
Transport Asia PacificIn the same week that Luxembourg announced plans to legalise cannabis (and make all public transport free), folk have been wondering whether many infrastructure fund managers will domicile in the small European duchy to enjoy the benefits of a liberal system while they play fast and loose with targets and hard caps
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Michigan’s I-75 road, US
Transport North AmericaMichigan closed on its second P3 deal in November 2018, and the project had a financing structure unique to the US market – private activity bonds. It had an accelerated timeline, going from preferred bidder to financial close in just under three months with four local civil contractors on board having achieved investment grade ratings from Moody’s and Kroll
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Privatisations remain airborne in Brazil
Transport Latin AmericaThe drive to bring private capital into Brazil's state-dominated airport sector has been constant in recent years, despite political volatility that has slowed down the privatisation process