Exhibit 6.6 Key Results of Using PPPs to Deliver International Transportation Projects | |||||
PPP Project | PPP Type | Timeframe | Cost | Economic Development | Other |
54-year DBFO concession for first tolled highway built in England in many years | Delayed 8 years due to public opposition to tolls on highways | Project costs increased due to delays caused by community and environmental opposition | Economic development was not a factor due to recent completion of facility and limited traffic volume. | Auto traffic increased according to projections while truck traffic has significantly lagged expectations. Plans to expand the toll highway 50 miles were abandoned in 2006 due to high right-of-way costs, toll opposition, and lack of private sector interest given the performance of M6 .Widening the highway to 6-8 lanes has also been delayed 8-10 years. | |
First DBFO highway project undertaken in England | Completed on schedule | Completed within budget | Not available | Provided needed additional capacity to relieve congestion on existing tunnels linking the M-25 orbital road crossing the Dartford River. Volume of traffic provides the potential to retire the debt service on the construction costs of the bridge and rehabilitation of the adjacent tunnel within 20 years of completion. | |
DBFO concession for new bridge and O&M on the original bridge for up to 30 years, or until the debt service is retired by tolls on the two bridges | Completed on schedule | Completed new bridge within budget and repaid the outstanding debt on the original bridge | Not available | Relieved congestion on parallel original bridge while providing redundant capacity to accommodate traffic whenever lanes on either bridges are taken out of service for maintenance and major rehabilitation purposes. This became a necessity when the agency operating the original bridge found that the suspension cables had severely deteriorated and required replacement. | |
Largest and most complex DBFO concession in national PPP program initiated in 1994 paid by public agency shadow tolls | Completed ahead of schedule, and many years ahead of the timeframe using traditional project delivery approaches | Completed within budget | Reduced congestion in area served by the highway which spurred economic development along the highway and the trunk highways it connected. | PPP arrangement expedited resolution of issues and enhanced coordination and communication among the members of the partnership. The new highway produced sufficient traffic to fully support the level of shadow tolls paid to the concession team by the highway agency to cover both debt service and operations and maintenance costs incurred by the concession team. | |
BOOT, with minimum revenue guarantee | Completed on schedule | Completed within budget | Not available | Relieved congestion crossing Sydney Harbor, and also allowed addition of dedicated bus lane on the bridge. | |
BOOT concession for 34 years duration | Construction completed on schedule, but toll operations curtailed until start-up problems were corrected | Completed within budget | Project improved highway network capacity in central Melbourne, providing congestion relief in and around Melbourne. It also provided economic benefits to motor carriers through better traffic flow along the system. | First application of cashless open road tolling in Australia, based on electronic toll collection and photo recognition technologies. | |
DB | Delivered 6 months ahead of schedule | Completed $20 million under budget | Not available | Not available | |
Not available | Completed within budget | Not available | Not available | ||
BOT non-tolled concession for 30 years | Completed on schedule | Completed within budget | This joint development project improved access to container port and airport facilities in the Northwest Territories and encouraged further economic development in the region. | Provided strategic highway linkage between Hong Kong and mainland China - one of several non-tolled highway, bridge, and tunnel PPP projects sponsored by the Hong Kong government prior to reunification with China. | |
Finance-Design BOT Concession | Completed on schedule | Completed within budget | Project expanded highway capacity in the central spin of Israel, thereby relieving congestion along non-tolled parallel routes to the east and west of the tolled highway. | The highway is Israel's first tollway and uses cashless open road tolling, based on electronic toll collection and photo recognition technologies. Traffic and revenues have grown faster than forecasted prior to construction. | |
Under construction but expected to be completed and opened to traffic in 2007 | To be determined | Project financing includes tolls and value capture from nearby economic development resulting from improved accessibility to be provided by the bridge. | BOT PPP and innovative financing approaches enabled this necessary bridge to be expedited to relieve congestion in the northern parts of Kolkata. | ||
Completed in July 2000 after eight-year development and construction period | Coast-to-coast section completed 25 percent over budget and landside infrastructure completed 70 percent over budget | The Øresund highway/rail link between Denmark and Sweden has spurred economic development on both sides of the facility, especially in the vicinity of Malmö, Sweden, many of whose residents work in or near Copenhagen, Denmark. | This bi-modal facility was the final link in the surface transportation network of Northwest Europe. | ||
Completed on schedule | Completed within budget | Bridge increased accessibility and mobility in the Mesopotamia Provinces of Argentina, spurring increased trade and between those provinces connected by the bridge and with the South American Common Market and increased economic development in the region served by the bridge. | Bridge produced significant increases in traffic capacity between the northern Mesopotamia Provinces of Argentina and reductions in vehicle travel times and operating costs. | ||