Exhibit 15 shows the distribution of toll highway projects by contract type on a regional basis. According to this data, the following insights are noted for toll highway projects involving PPP arrangements:
• Toll highway projects involving PPP arrangements for financing or delivery are found in all regions, with the largest number and costs in Europe, North America, and Asia & Far East.
• Most of the toll highway projects in Europe are located in Spain, Germany, Greece, and Ireland. These are mostly Concession and BOT/BTO contracts averaging 30 years in duration. The U.K. has only recently begun to build toll motorways, having used primarily shadow tolling for highway financing in the past. Project costs average $680 million in Europe.
• Most of the toll highway projects in Asia & Far East are located in China, Malaysia, South Korea, Australia, and India. These are mostly BOT/BTO contracts averaging 30 years in duration. There are several Joint Development Agreement (JDA) projects in China. Project costs average about $645 million in Asia & Far East.
• Most of the toll highway projects in Latin America & Caribbean are located in Brazil, Chile, Peru, and Argentina. These are mostly Concession and BOT/BTO contracts averaging 25-30 years in duration. Project costs average about $260
million in Latin America & Caribbean.
• Toll highway projects in North America are located in Mexico, U.S., and Canada. These are mostly Concession contracts (particularly in Mexico) averaging 30 years in duration. Some of the projects in Mexico involve Asset Sales. Many of the projects in the U.S. are DB contracts. Project costs average about $450 million in North America.
• Few toll highway projects are in Africa & Middle East, spread across various contract types excluding DB and Contract Management. Most involve 30 year durations. Project costs average about $475 million in Africa & Middle East.
Exhibit 15 - Toll Highway Projects Planned or Completed since 1985 by Region and Contract Type*
| Region | Contract Type | Number | Percent | $ Billion | Percent | $B/Project |
| Africa & Middle | ||||||
| East | Concession | 1 | 13% | $0.0 | 1% | $0.039 |
| So Africa | 3 | 38% | $1.6 | 42% | $0.527 | |
| 2 | 25% | $1.5 | 40% | $0.761 | ||
| 2 | 25% | $0.7 | 17% | $0.325 | ||
| 0 | 0% | $0.0 | 0% | $0.000 | ||
| 0 | 0% | $0.0 | 0% | $0.000 | ||
| Mgt Contract | 0 | 0% | $0.0 | 0% | $0.000 | |
| Subtotal | 8 | 100% | $3.8 | 100% | $0.474 | |
| Asia & Far East | Concession | 27 | 33% | $15.4 | 30% | $0.572 |
| China | 2 | 2% | $7.2 | 14% | $3.600 | |
| Malaysia | 2 | 2% | $0.2 | 0% | $0.078 | |
| So Korea | 47 | 58% | $28.7 | 55% | $0.610 | |
| Australia | 1 | 1% | $0.1 | 0% | $0.143 | |
| Indonesia | 2 | 2% | $0.5 | 1% | $0.228 | |
| India | Mgt Contract | 0 | 0% | $0.0 | 0% | N/A |
| Subtotal | 81 | 100% | $52.1 | 100% | $0.643 | |
| Europe | Concession | 58 | 49% | $39.9 | 49% | $0.689 |
| Spain | 16 | 13% | $8.4 | 10% | $0.525 | |
| Germany | 8 | 7% | $6.1 | 7% | $0.757 | |
| Greece | 36 | 30% | $25.6 | 32% | $0.712 | |
| Ireland | 1 | 1% | $0.9 | 1% | $0.936 | |
| Portugal | 0 | 0% | $0.0 | 0% | N/A | |
| France | Mgt Contract | 0 | 0% | $0.0 | 0% | N/A |
| Subtotal | 119 | 100% | $81.0 | 100% | $0.680 | |
| Latin America & Caribbean | Concession | 44 | 47% | $11.2 | 46% | $0.253 |
| Brazil | 1 | 1% | $0.4 | 2% | $0.442 | |
| Chile | 5 | 5% | $1.7 | 7% | $0.346 | |
| Peru | 43 | 46% | $11.0 | 45% | $0.255 | |
| Argentina | 0 | 0% | $0.0 | 0% | N/A | |
| Columbia | 0 | 0% | $0.0 | 0% | N/A | |
| Mgt Contract | 0 | 0% | $0.0 | 0% | N/A | |
| Subtotal | 93 | 100% | $24.3 | 100% | $0.261 | |
| North America | Concession | 79 | 85% | $27.3 | 53% | $0.345 |
| Mexico | 0 | 0% | $0.0 | 0% | N/A | |
| US | 8 | 7% | $12.3 | 24% | $1.534 | |
| Canada | 10 | 9% | $3.3 | 6% | $0.332 | |
| 0 | 0% | $0.0 | 0% | N/A | ||
| 16 | 14% | $8.4 | 16% | $0.524 | ||
| Mgt Contract | 1 | 1% | $0.1 | 0% | $0.108 | |
| Subtotal | 114 | 116% | $51.4 | 100% | $0.451 | |
| Total | Concession | 209 | 50% | $93.9 | 44% | $0.449 |
| 22 | 5% | $17.6 | 8% | $0.801 | ||
| 25 | 6% | $21.7 | 10% | $0.869 | ||
| 138 | 33% | $69.3 | 33% | $0.502 | ||
| 2 | 0% | $1.1 | 1% | $0.540 | ||
| 18 | 4% | $8.8 | 4% | $0.491 | ||
| Mgt Contract | 1 | 0% | $0.1 | 0% | $0.108 | |
| Total | 415 | 100% | $212.5 | 100% | $0.512 |
N/A - none available * Omits projects included in PWF database that lack sufficient information to determine cost