PROFESSIONAL PAPERS
Jan 1, 1989
Role of Private Sector Finance
Publication: Journal of Professional Issues in Engineering
Volume 115, Issue 1
Abstract
Build‐own‐operate‐transfer projects are receiving renewed interest in many countries. These include the United Kingdom where the government nevertheless imposes strict rules on their application. The first major infrastructure project in modern times in the United Kingdom to receive this treatment was the contract for the Dartford Bridge in 1986. The promoters and financial advisors so contained and allocated the various risks that the necessary debt was raised without any substantial equity base, thus minimizing the concession period and cost to government. Build‐own‐operate‐transfer projects can also be of value in lesser developed countries. But host governments need to understand the commercial realities and the promoters need realistically to assess the political risks and the inevitable extra costs. Failure on both sides has led to many disappointments. Engineers have a major part to play in this process, whether they exercise their discipline as contractor, consultant, or in the public sector.
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Published In
Journal of Professional Issues in Engineering
Volume 115 • Issue 1 • January 1989
Pages: 16 - 18
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Copyright © 1989 ASCE.
History
Published online: Jan 1, 1989
Published in print: Jan 1989
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M. J. N. Barnett
Dir., Kleinwort Benson Limited, P.O. Box 560, 20 Fenchurch St., London EC3P 3DB, England
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Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.