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Transcript of ||Titel der PräsentationUntertitel der Präsentation02.12.20091 Financing of Road Infrastructure...
|| Titel der Präsentation Untertitel der Präsentation02.12.2009 1
Financing of Road Infrastructure PPPswith Electronic Toll Schemes
III Astana Economic ForumCrisis Lessons and Post-Crisis Models of Economic Development in Globalization Conditions
July 1st – 2nd, 2010
Insert photo:9.64 mm high x 25.4 mm wide
Agenda
Overview Kapsch
PPP Principles
Tolling and PPP
Case Studies
Conclusions
02.07.2010 2Financing PPP with Electronic Tolling
Schemes
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What does Kapsch actually do?
02.07.2010 3Financing PPP with Electronic Tolling
Schemes
Kapsch TrafficCom - Experience
80% of Multi Lane Free Flow (MLFF) Systems worldwide are supplied by Kapsch TrafficCom
100 cars per second are passing through Kapsch TrafficCom’s MLFF tolling points
12 Million drivers that use our OBUs (On Board Units) as a means of payment
3 of 5 National truck tolling schemes in Europe use Kapsch TrafficCom’s technology and services
12 Months (average) to deliver complete national truck tolling schemes (for the Czech Republic and Austria)
250 Projects in 36 countries
02.07.2010 4Financing PPP with Electronic Tolling
Schemes
Kapsch TrafficCom: Road Traffic Telematics Portfolio
Highway tollingArea tollingE-VignettePlaza tollingToll enforcement
TollingSolutions
City tollingAccess restrictionLow emission zonesOpen zone parking
Urban TrafficSolutions
Road Safety & SecuritySolutions
Speed monitoringWeigh in motionIncident detectionTraffic surveillance
Add-on Applications
02.07.2010 5Financing PPP with Electronic Tolling
Schemes
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PPP Models, Financial Crisis
02.07.2010 6Financing PPP with Electronic Tolling
Schemes
Credit crisis impact on the PPP market
Reduced Liquidity & increased Bank margins - The collapse of the inter-bank lending market has drastically reduced liquidity. Bank margins
have increased substantially
Competing capital allocation - Project finance and PPP lending is competing for scarce regulatory capital allocations with
more attractive corporate opportunities. This is testing the viability of the current PPP model
Shrinking international Project Finance market & Relationship banking- Some banks have partially or totally withdrawn from the Project Finance market. Active
international players have become more orientated to their domestic markets. “Relationship banking” is back in force
Wrapped bond market - No viable capital market solution has emerged to replace the wrapped bond market
However, the PPP market has not collapsed. Deals are still being brought to market and closing, albeit more slowly. There is a high degree of selectivity on the part of banks and a general lack of consistency in the terms and conditions required by funders.
* Source: EPEC (European PPP Expertise Centre), The financial crisis and the PPP market, August 2009
7 02.07.2010 7Financing PPP with Electronic Tolling
Schemes
Why PPP / BOT / PFI / … ?
Mobilize (additional) financing of infrastructure
Risk-sharing between public and private sectors
Using private sector skills
Cost Saving
Source: Wordl Bank Tollokit for PPP in Highways
02.07.2010 8Financing PPP with Electronic Tolling
Schemes
Financing Models
Public Funding- Risk of design, but full control of process
Operations contract - Limited influence, but no upfront investments
Concessions- Lower risk, but loss of control?
Revenue sharing models - Lower level of investment, but smaller share of
income
PPP’s- Shared responsibility between the Public & the
Private?- Risk sharing?- Economic, legal, political obstacles?
02.07.2010 9Financing PPP with Electronic Tolling
Schemes
What Tolling Model ?
Build
Finance
TransferOperate
Design
Shadow Toll
Availability Payments
User Pays
02.07.2010 10Financing PPP with Electronic Tolling
Schemes
Why PPPs for Road Infrastructure Projects
• Reduce financial bottlenecks to build new or maintain existing infrastructure
• Create synergies
• Utilise innovations
• Increase planning security
• early implementation
• maintain roads quality on high levels
• include industry in state duties
02.07.2010 11Financing PPP with Electronic Tolling
Schemes
Public-Private Partnerships are very common in Europe and Asia
02.07.2010 12Financing PPP with Electronic Tolling
Schemes
Toll Modes
Public Spending
Private Spending
Efficiency
Shadow Tolls Low
Avalibility Payments Low
User Tolls High
02.07.2010 13Financing PPP with Electronic Tolling
Schemes
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Tolling Schemes as Part of PPPs
02.07.2010 14Financing PPP with Electronic Tolling
Schemes
• Investors in PPP schemes are rewarded through revenues from toll schemes
• The tolls are collected from the road users (the „User Pays“ Principle)• Toll scheme must not obstruct traffic flow (high user acceptance)• Toll tariffs help to optimise road use, and environmental impacts• The toll scheme may serve also as a traffic management tool• Toll Scheme to suit all PPP kinds: concessions, operations contract,
etc.• Risks of modern toll schemes are very low
Toll Financed Mechanisms and Requirements
02.07.2010 15Financing PPP with Electronic Tolling
Schemes
Questions for Toll Schemes
Political Goals?
Tariff ?Traffic
Management impacts
Legal Framework
for Enforcement
Tax or Toll?
Risks?
Scaleability and
Integration
Technology ?
02.07.2010 16Financing PPP with Electronic Tolling
Schemes
Integrated approach and design required
Road Users
Politics
Government
Road Authorities
Police
Media
Professionals
Scientific
Banks
Industry
Organizations
Standardization
02.07.2010 17Financing PPP with Electronic Tolling
Schemes
Players for PPP - Tolling Projects
• Toll Regulatory Board
• Department of Public Works and Highways
• National Economic and Development Authority
• Department of Finance
• Department of Budget and Management
• Department of Trade and Industry
02.07.2010 18Financing PPP with Electronic Tolling
Schemes
Mode of Operations in Tolling
Toll Plaza - vehicles need to stop
High Cost CAPEX and OPEX
Multi-Lane Free-Flow / ORTvehicles drive with normal speed
No obstruction of traffic
Convenient for road users
Lowest cost
Avoid accidents because of stopping
02.07.2010 19Financing PPP with Electronic Tolling
Schemes
Typical Toll System Overview
On Board Unit in Car
Kommunikationszone
Tolling Stations
Kommunikationszone
Enforcement Stations
Call Center
Mobile Enforcement
CRM Central System
Enforce-ment Processing
Points of Sale (POS)
Self Service Terminals
02.07.2010 20Financing PPP with Electronic Tolling
Schemes
Easy to Use
Lowest cost for erection and operation, incl. management, contracting and billing
High scalability, high automation, and no fraud
High charging and enforcement quotas
Support of flexible charging schemes & tariff structures
Best technologies (proven, standards)
Toll Performance Key Factors
02.07.2010 21Financing PPP with Electronic Tolling
Schemes
Toll based PPP Projects with Kapsch TraffiCom Toll Schemes
Austria - Truck Tolling System
Melbourne City Link
Czech Republic Nationwide Truck Tolling Scheme
Santiago de Chile - Urban Scheme
02.07.2010 22Financing PPP with Electronic Tolling
Schemes
Toll based PPP Projects with Kapsch TraffiCom Toll Schemes
Attica Tollway, Greece
02.07.2010 23Financing PPP with Electronic Tolling
Schemes
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Summary & Conclusions
02.07.2010 24Financing PPP with Electronic Tolling
Schemes
Summary & Recommendations for Tolling
Tolling is an efficient financing tool for PPPsFinance new infrastructure, or upgrade existing
Make scheme simple Mandatory On Board Unit, no cash payment
Tolling Scheme must generate maximum revenuesBusiness oriented tariffs, no fraud
Ensure best performancelow cost, proven technologies, standards, experienced partners, low risk, ...
Must not cause congestionFree-Flow mode of operation,
Must be sustainableScalable, environment, interoperable, inter-urban and urban, ...
02.07.2010 25Financing PPP with Electronic Tolling
Schemes
IRF PPP activities, and Working Groups
02.07.2010
02.07.2010 26Financing PPP with Electronic Tolling
Schemes
IRF Publications
02.07.2010
02.07.2010 27Financing PPP with Electronic Tolling
Schemes
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chemes
Thank you for your attention!
Insert photo:6.48 mm high x 25.4 mm wide
Josef A. CzakoGroup Director, International Business
Development
Kapsch TrafficCom AGAm Europlatz 2 | A-1120 Vienna | Austria
Phone +43 50 811 2150Mobile +43 664 628 2150
Email [email protected]
02.07.2010