Project OverviewBusiness and Procurement Model Presentation

13th Informal PPP Exchange

Lisbon, 6th July 2007Zaragoza, 8th June 2010

Portuguese High Speed Rail Project

High Speed Projects and Public Private Partnerships

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Portuguese High Speed Rail Project

3

Porto

Vigo

LisboaMadrid

Portuguese High Speed Rail Project

STRUCTURING THE EUROPEAN ATLANTIC SOUTH-WEST FRONT – bonding the region and contributing to its competitiveness

SUSTAINABLE MOBILITY – improve the competiveness of the rail transport while reducing road accidents, emissions and the country’s dependence of oil based energy

INCREASE THE COMPETITIVENESS OF THE PORT, AIRPORT AND LOGISTICS SYSTEMS – improving their articulation and making their area of influence broader

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MAIN OBJECTIVES

Norte Line - % of utilisation(peak hour)

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HS Line

Norte Line

PORTO

LISBON

PORTO

LISBON

RELEASE OF CAPACITY IN THE CONVENTIONAL RAIL NETWORK Improving suburban, regional and freight rail services

1667 mm

Rail Gauge

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INTEGRATION OF THE NATIONAL RAIL NETWORK IN THE TEN-T:Assuring the interoperability both in the passenger and freight transport

Implementation

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RATIONAL

• Dimension of the investment

• Technological risk

• Horizontal and vertical interface risks

• Lifecycle

• Strategic role within the Public Sector

The Portuguese Business ModelInfrastructure

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Sub & Superstructure ( 5 PPP’s)

Signalling & Telecommunications(1 PPP)

Capacity Allocation & Traffic Management (State/REFER)

• The story so far:

• Lisbon-Madrid Axis

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Lisboa

Évora International Station

Mérida

Cáceres

PlasenciaTalavera

NavalMoral

Madrid

Distance: 645 km

Mix Traffic (Passenger + Freight)

Travel Time : 2h45m (today 9h00m)

Lisbon-Madrid Axis

PPP 1 – Section Poceirão-Caia (165km)

PPP 2 – Section Lisboa-Poceirão (34 km)

Lisbon Station – Traditional procurement

Lisbon-Madrid Axis

PPP 6 – Signaling & Telecommunications

International Station – to be developed jointly by both countries

Construction and Operation of Evora Station

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HS Line 165 km

Convencional Line 92 km

Construction cost 1 359 M€

Maintenance cost 12,2M€ (p.a.)

The story so farPPP1 – Poceirao / Caia

ÉVORA

MONTEMOR-O-NOVO

VENDAS NOVAS

POCEIRÃO

LISBOAEstaçãode Évora

ALANDROAL

PINHAL NOVO

MOITA

REDONDO

BARREIRO

ELVAS

Contract Signed on May 8, 2010

Scope: Design, Built, Finance and Maintain

Concession Period: 40 years

7%3%

29%

12%

13%

36%

49%

PPP1: Poceirao – Caia Financial Structure

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EU Grants - 41%

TEN-T

Cohesion Fund

REFER

Portuguese State

Promoters & Commercial

Banks

EuropeanInvestment Bank

Private Finance - 49%

State Support - 10%

Project Construction Maintenance + Major Repairs Total0

500000000

1000000000

1500000000

2000000000

2500000000

3000000000

3500000000 PSC BAFO

+169%

-33%

-58%

-39%

2975

1814

(NP

V@

6,0

8%

)

PS

C PS

C PS

CPP

P

BA

FO

PPP

PP

P

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PPP1: Poceirao – Caia Life Cycle Costs

Design

PPP – Final Proposal (BAFO)PSC – Public sector Comparator

PPP

• Main ideas

MAIN IDEAS

1. Portuguese HSN will accelerate the integration of the national rail network in the TEN-T

2. EU Financial Support has been essential to the development of our HSN

3. Portuguese PPP Model for HSN enabled:

i. a significant cost reduction;

ii. wide risk transfer to privates; and

iii. efficient integration of public and private financing.

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Project OverviewBusiness and Procurement Model Presentation

13th Informal PPP Exchange

Lisbon, 6th July 2007Carlos Fernandeswww.rave.pt

Thank you for your attention