Private Participation in Urban Rail : A Resurgence of Public-Private Partnerships
Cities in the developing world are relying more on public-private partnerships (PPPs) to carry out the most complex and demanding of public works initiatives - the development of new urban heavy rail, or metros, usually involving underground lines....
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| Language: | English en_US |
| Published: |
World Bank Group, Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/07/24441424/private-participation-urban-rail-resurgence-public-private-partnerships http://hdl.handle.net/10986/22305 |
| Summary: | Cities in the developing world are
relying more on public-private partnerships (PPPs) to carry
out the most complex and demanding of public works
initiatives - the development of new urban heavy rail, or
metros, usually involving underground lines. Most of the
world’s metro systems are operated and were funded and built
by public agencies. But developing country governments are
shying away from the high cost and complexity of such
systems and are acquiring more experience partnering with
the private sector on infrastructure projects. Hence, the
PPP approach, tried for metros with mixed results in the
1990s, has become more attractive. In the past five years,
2010-2014, five cities in Latin America and developing Asia
have initiated seven new urban heavy rail lines using PPPs.
In four of these projects, the PPPs are fully bundled, that
is, they encompass design, financing, construction, and
operations. It is too early to judge the overall performance
of these seven projects, but some recommendations can be
drawn from them as well as from earlier urban rail PPPs. The
central lessons are the critical importance of a robust
planning and management capacity in the public sector
partner and the value of strong efficiency incentives for
the private sector partners. |
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