An Inside View
This comprehensive new book provides in-depth coverage of all aspects of infrastructure project financing. The boundaries of “infrastructure” are clearly defined and the key processes, from project concept via funding mechanisms, risk analysis, financial structuring and funding sources, to financial close and implementation – are examined in detail
Part 1 covers: characteristics of “infrastructure”; financial structures; sources of finance; risk; quantitative analysis; contractual frameworks and project processes.
Part 2 explores: the full range of infrastructure and public service (PPP-type) projects, and highlights the differences between sectors, sector-specific risks and the limits on the use of private capital to support such ventures.
The text is illustrated with case studies drawing on the successes, and failures, of global infrastructure projects, covering: transport; power and renewable energy; oil, gas and power transmission; water and waste and municipal and public-private partnerships (“PPP”).
The book also addresses the challenges faced in some of the UK’s high-profile mega-infrastructure projects (including “The Super Sewer”, Heathrow Runway 3, Hinkley Point ‘C’ Nuclear Power Plant and HS2), and how these challenges have been overcome. Pitfalls to be avoided are discussed in detail alongside the key steps which should be taken to ensure success.
Table of Contents
|Table of contents||4|
|About the author||9|
|Part 1: Principles||22|
|What is infrastructure?||24|
|Options for governments||54|
|Sources of finance||88|
|The contractual framework||132|
|The project process||152|
|Part 2: Practice and experience||162|
|Transport – roads and highways||164|
|Transport – bridges and tunnels||178|
|Transport – rail||184|
|Transport – metros, mass transit, light rail and trams||190|
|Transport – ports||196|
|Transport – airports||202|
|Power generation – thermal(coal, oil, gas)||208|
|Power generation –hydropower||216|
|Power generation – nuclear||222|
|Power generation –renewables (wind, solar,geothermal, biomass)||226|
|Oil, gas and power transmission and distribution||240|
|Water and waste management||246|
|Miscellaneous government services – schools, health, housing, offices, information technology, stadiums, prisons, defence||254|
|UK infrastructure – issues and challenges||262|
This book is essential reading for anyone involved in the private financing of infrastructure projects and provides many important lessons on what can go right and wrong. Martin Blaiklock illustrates his text with a variety of case studies, past and present.
Illustrative case studies are provided throughout, many of them replete with warnings against possible perils and pitfalls, while revealing the steps that should be taken typically to ensure success.
Richmond Green Chambers
An excellent comprehensive guide to the subject which will occupy a prominent place on my working bookshelf.
Sir Ian Byatt
Martin Blaiklock has over 40 years’ experience of structuring, developing, evaluating and implementing the funding of public and private sector projects – that is, private finance initiatives (PFIs), public-private partnerships (PPPs) and so on – in infrastructure, energy and the process industries throughout the world and, particularly, in emerging markets.
Uniquely, Mr Blaiklock has worked for extended periods in an investment bank (Kleinwort Benson Ltd), a commercial bank (HSBC) and a development bank (the European Bank of Reconstruction and Development – the EBRD – as director of power and energy utilities).
Since 1995, he has operated as an independent consultant and was an expert witness for the Parliamentary Inquiry into the London Underground PPP. Over the past six years he has undertaken over 120 training seminars on project finance/PPPs for the World Bank/International Finance Corporation, the EBRD, the African Development Bank, governments, contractors, utilities and commercial banks in over 40 countries.
He is also a member of Independent Port Consultants (www.port-consultants.com), a London-based association of independent port development specialists.