June 2002
Beginner
344 pages
11h 7m
English
Content preview from Principles of Project Finance
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ture for a PPP. It has been used extensively in project finance for infrastruc-
ture projects such as roads, bridges, tunnels, and railways (Figure 6.2). Typi-
cal terms for such a Concession Agreement are:
• The Project Company is obliged to complete the project to an agreed
specification by an agreed back-stop date. (In some cases an independent
engineer may be appointed as maître d’œuvre to confirm that the plant is
being built to the required specification, but this should not translate into
a right for the public sector to approve the construction—cf. §6.4.)
• The Contracting Authority makes available the land and rights of way re-
quired for the concession. ...
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