Toll Tunnels

Exhibit 17 shows the distribution of toll tunnel projects by contract type on a regional basis. According to this data, the following insights are noted for toll tunnel projects involving PPP arrangements:

• Toll tunnel projects involving PPP arrangements for financing or delivery are found in all regions, with most located in Europe.

• Toll tunnel projects are spread across Europe, with the largest number located in Germany. These are mostly Concession, DBOM, and BOT/BTO contracts ranging from 27 to 99 years in duration. Project costs average $1.5 billion in Europe, with the Concession projects significantly larger on average than the DBOM or BOT/BTO projects.

• Most of the toll tunnel projects in Asia & Far East are located in Hong Kong and Australia. These are mostly BOT/BTO contracts averaging 30 years in duration. Project costs average about $450 million in Asia & Far East.

• There are two toll tunnel projects in Latin America & Caribbean. These are DBFO and BOT/BTO contracts ranging from 23 to 30 years in duration. Project costs average about $120 million in Latin America & Caribbean.

• There is one toll tunnel project in North America. This is a $4 billion DBOM contract in the U.S..

• Two toll bridge projects are in Africa & Middle East with BOT/BTO contracts of 35-year durations. Project costs average about $380 million in Africa & Middle East.

Exhibit 17 - Toll Tunnel Projects Planned or Completed since 1985 by Region and Contract Type*

Region

Contract Type

Number

Percent

$ Billion

Percent

$B/Project

Africa & Middle

East

Concession

0

0%

$0.0

0%

N/A

Egypt

DBFO

0

0%

$0.0

0%

N/A

Isreal

DBOM

0

0%

$0.0

0%

N/A

BOT/BTO

2

100%

$0.8

100%

$0.378

BOO

0

0%

$0.0

0%

N/A

DB

0

0%

$0.0

0%

N/A

Mgt Contract

0

0%

$0.0

0%

N/A

Subtotal

2

100%

$0.8

100%

$0.378

Asia & Far East

Concession

3

30%

$0.8

19%

$0.278

Australia

DBFO

1

10%

$0.8

18%

$0.821

China

DBOM

0

0%

$0.0

0%

N/A

BOT/BTO

6

60%

$2.8

63%

$0.471

BOO

0

0%

$0.0

0%

N/A

DB

0

0%

$0.0

0%

N/A

Mgt Contract

0

0%

$0.0

0%

N/A

Subtotal

10

100%

$4.5

100%

$0.448

Europe

Concession

4

29%

$18.6

88%

$4.662

Germany

DBFO

0

0%

$0.0

0%

N/A

DBOM

4

29%

$1.0

5%

$0.261

BOT/BTO

5

36%

$1.0

5%

$0.201

BOO

0

0%

$0.0

0%

N/A

DB

1

7%

$0.4

2%

$0.400

Mgt Contract

0

0%

$0.0

0%

N/A

Subtotal

14

100%

$21.1

100%

$1.507

Latin America &

Caribbean

Concession

0

0%

$0.0

0%

N/A

DBFO

1

50%

$0.2

79%

$0.190

DBOM

0

0%

$0.0

0%

N/A

BOT/BTO

1

50%

$0.1

21%

$0.051

BOO

0

0%

$0.0

0%

N/A

DB

0

0%

$0.0

0%

N/A

Mgt Contract

0

0%

$0.0

0%

N/A

Subtotal

2

100%

$0.2

100%

$0.121

North America

Concession

0

0%

$0.0

0%

N/A

DBFO

0

0%

$0.0

0%

N.A

DBOM

1

100%

$4.0

100%

$4.000

BOT/BTO

0

0%

$0.0

0%

N/A

BOO

0

0%

$0.0

0%

N/A

DB

0

0%

$0.0

0%

N/A

Mgt Contract

0

0%

$0.0

0%

N/A

Subtotal

1

100%

$4.0

100%

$4.000

Total

Concession

7

24%

$19.5

64%

$2.783

DBFO

2

7%

$1.0

3%

$0.506

DBOM

5

17%

$5.0

17%

$1.009

BOT/BTO

14

48%

$4.6

15%

$0.331

BOO

0

0%

$0.0

0%

N/A

DB

1

3%

$0.4

1%

$0.400

Mgt Contract

0

0%

$0.0

0%

N/A

Total

29

100%

$30.6

100%

$1.054

N/A - none available

* Omits projects included in PWF database that lack sufficient information to determine cost