Concessions as an arrangement involving governments and private sector operators, to finance, develop, maintain or operate infrastructural assets such as roads, airports, railways, hospitals, bridges etc., has been an increasingly popular alternative financing model given limited public revenues cum obligation to deliver social services. There are many variants: managing existing assets, for example to optimise public service delivery (including revenues therefrom), should entail less complexity than a Build, Own, Operate and Transfer (BOOT) or Build, Operate and Transfer (BOT) concession model. Concessions, whilst being essentially Public-Private Partnerships (PPPs), are also a way to ensure better provision of public facilities and services; they encapsulate diverse, and sometimes thorny legal, regulatory and commercial issues.
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