Risk Mitigation in Ppp Projects
APPENDIX I
PPP VGF IIFCL TA IIPDF O&M MCA NPV GHIAL MAHB GoI GoAP GoR AAI ICAO IRA NHAI SPV CA MCA SPCD LOA COD MOU - Public Private Partnership -Viability Gap Funding -Indian Infrastructure Finance Limited -Transaction Advisers -Indian Infrastructure Project Development Fund -Operation and Maintenance -Model Concession Agreement - Net Present Value - GMR-Hyderabad International Airport Ltd. - Malaysia Airports Holding Berhad - Government of India - Government of Andhra Pradesh - Government of Rajasthan -Airport Authority of India -International Civil Aviation Organization -Independent Regulatory Authority - National Highway Authority of India - Special Purpose Vehicle - Concession Agreement - Model Concession Agreement - Scheduled Project Completion Date - Letter of Acceptance - Commercial Operation Date - Memorandum of Understanding
1
Chapter 1 ABOUT THE STUDY
1.1 INTRODUCTION: In recent years countries around the world have met the challenge of developing and maintaining critical infrastructure by restructuring public utilities and expanding private sector participation in the infrastructure sectors. Recognizing the importance of adequate infrastructure services, and given the constraints on public budgets to finance these growing infrastructure needs, governments have sought to shift part of the burden of new infrastructure investment to the private sector. Government has been actively engaged finding the appropriate policy framework, which would give the private sector adequate confidence in investing into infrastructure projects and at the same time, have adequate checks and balances through transparency, regulation and competition. Consequently, Public Private Partnerships (PPPs) are being actively encouraged for execution, operation and maintenance of infrastructure projects in India. Over the lifespan of these projects the legislative, political, social, market and economic environment could all change significantly. This is especially the case in
PPP VGF IIFCL TA IIPDF O&M MCA NPV GHIAL MAHB GoI GoAP GoR AAI ICAO IRA NHAI SPV CA MCA SPCD LOA COD MOU - Public Private Partnership -Viability Gap Funding -Indian Infrastructure Finance Limited -Transaction Advisers -Indian Infrastructure Project Development Fund -Operation and Maintenance -Model Concession Agreement - Net Present Value - GMR-Hyderabad International Airport Ltd. - Malaysia Airports Holding Berhad - Government of India - Government of Andhra Pradesh - Government of Rajasthan -Airport Authority of India -International Civil Aviation Organization -Independent Regulatory Authority - National Highway Authority of India - Special Purpose Vehicle - Concession Agreement - Model Concession Agreement - Scheduled Project Completion Date - Letter of Acceptance - Commercial Operation Date - Memorandum of Understanding
1
Chapter 1 ABOUT THE STUDY
1.1 INTRODUCTION: In recent years countries around the world have met the challenge of developing and maintaining critical infrastructure by restructuring public utilities and expanding private sector participation in the infrastructure sectors. Recognizing the importance of adequate infrastructure services, and given the constraints on public budgets to finance these growing infrastructure needs, governments have sought to shift part of the burden of new infrastructure investment to the private sector. Government has been actively engaged finding the appropriate policy framework, which would give the private sector adequate confidence in investing into infrastructure projects and at the same time, have adequate checks and balances through transparency, regulation and competition. Consequently, Public Private Partnerships (PPPs) are being actively encouraged for execution, operation and maintenance of infrastructure projects in India. Over the lifespan of these projects the legislative, political, social, market and economic environment could all change significantly. This is especially the case in