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- Advantages and Risks of Pursuing PPPs for Elements of Express Lane Networks In Carlifonia: Lessons for Developing Countries.  541 kb |
by Munya, Andrew | muyovya@yahoo.co.uk  |
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| Short Outline |
| This paper explores policy analyses in the context of transportation infrastructure delivery through Public-Private Partnership Models. |
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| Abstract |
| Recently the state of California enacted legislation that will permit limited use of Public-Private Partnerships to develop transportation investments. This paper explores the benefits and risks of using Public-Private Partnerships to deliver transportation infrastructure for elements of the regional express lane networks in California. The purpose is to develop a preliminary set of criteria for evaluating the advantages and risks of using P3s to deliver transportation infrastructure. The paper begins with an overview of Public-Private partnerships .This is followed by a review of the SR-91 Express Lanes project in Orange County California which was delivered through a DBFO style PPP and the subsequent legislation enacted in 2006. The successes and conflicts associated with this project are examined since the time of its inception until the present. Through an examination of existing literature on PPPs and articles on projects delivered through similar models of PPPs, an outline of the advantages and risks associated with PPPs are outlined as relevant lessons for developing countries.Finally a premilinary evaluation criteria is set forth for the PPP.The results and conclusions show that in the short term PPPs are an effective way of raising funds for new facilities and transferring risks to the private sector, but in the long term PPPs may create new tension points that lead to conflicts between public agencies and the private investor, which may adversely affect the performance of the project. Overall the study presents a strong case for developing countries to consider PPPs as an alternative form of delivery of transportation infrastructure. |
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| Keywords |
| Public Private Partnerships,Transportation Infrastructure and Legislation |
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