the infrastructure financing in spain antonio m. lópez corral professor of the polytechnic...
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THE INFRASTRUCTURE FINANCING IN SPAIN
Antonio M. López CorralProfessor of the Polytechnic University of Madrid
Madrid, June 28th, 2007
INTEGRATION OF TRANSPORT MODES & MANAGEMENT
World Bank Study Tour
2
THE INFRASTRUCTURE FINANCING SYSTEM IN SPAIN THE INFRASTRUCTURE FINANCING SYSTEM IN SPAIN
PUBLIC FINANCING - Budgetary - Non budgetary (Public Entities) - Non budgetary with repercussion in
public deficit (Instrumental Societies) PRIVATE AND MIXED FINANCING - Concessions - Other PPP´s formulas (with probably
repercussion in public deficit)
PUBLIC FINANCING - Budgetary - Non budgetary (Public Entities) - Non budgetary with repercussion in
public deficit (Instrumental Societies) PRIVATE AND MIXED FINANCING - Concessions - Other PPP´s formulas (with probably
repercussion in public deficit)
BUDGETARY FINANCINGBUDGETARY FINANCING
BUDGETARY FINANCING
BUDGETARY FINANCING
PUBLIC AUTHORITY
PUBLIC AUTHORITY INFRASTRUCTUREINFRASTRUCTURE
SERVICESERVICE
NETWORK OF MOTORWAYS IN SPAINNETWORK OF MOTORWAYS IN SPAIN
HIGH SPEED RAILWAY STATION MADRID-ATOCHAHIGH SPEED RAILWAY STATION MADRID-ATOCHA
NON BUDGETARY FINANCING OF PUBLIC ENTITIES NON BUDGETARY FINANCING OF PUBLIC ENTITIES
FINANCINGFINANCING
PUBLIC ENTITIEPUBLIC ENTITIE INFRASTRUCTUREINFRASTRUCTURE SERVICESERVICE
INCOMEINCOME
AENA: MADRID - BARAJAS AIRPORTAENA: MADRID - BARAJAS AIRPORT
AENA: MADRID – BARAJAS AIRPORTAENA: MADRID – BARAJAS AIRPORT
ADIF: HIGH SPEED RAILWAY MADRID-BARCELONA
ADIF: HIGH SPEED RAILWAY MADRID-BARCELONA
Extension Plan2003 – 2007
New LineMetroNorte
L.7 Extension
L.4 Extension
L.1 Extension (north)
L.5 Extension
L.1 Extension (south)L.3 Extension
L.11 Extension
L.2 Ext.Light Rail
L.10 Ext.
Light Rail
Light Rail
L.8 Extension
Line 8 Nuevos Ministerios
AUTO
PPP FINANCING SQUEME OF CALLE 30PPP FINANCING SQUEME OF CALLE 30
MUNICIPALITYMUNICIPALITY CALLE 30CALLE 30 INFRASTRUCTUREINFRASTRUCTURE
PRIVATE
PARTNER
PRIVATE
PARTNER
SERVICESERVICE
FINANCINGFINANCING
MADRID CALLE 30MADRID CALLE 30
CONCESSIONAL FINANCING SQUEMECONCESSIONAL FINANCING SQUEME
CONCESSION HOLDER
CONCESSION HOLDER
INFRASTRUCTURESINFRASTRUCTURES
SERVICESERVICEFINANCINGFINANCING
EQUITYEQUITY
TOLLSTOLLS
Extension Plan2003 – 2007
New LineMetroNorte
L.7 Extension
L.4 Extension
L.1 Extension (north)
L.5 Extension
L.1 Extension (south)L.3 Extension
L.11 Extension
L.2 Ext.Light Rail
L.10 Ext.
Light Rail
Light Rail
L.8 Extension
TOLL FREEWAY EJE AEROPUERTOTOLL FREEWAY EJE AEROPUERTO
AUTOPISTA DE PEAJE EJE AEROPUERTOAUTOPISTA DE PEAJE EJE AEROPUERTO
INFRASTRUCTURE PROVISION SYSTEM
FINANCING
PHASES OF THE INFRASTRUCTURE PROVISION SYSTEM IN SPAIN
PHASES OF THE INFRASTRUCTURE PROVISION SYSTEM IN SPAIN
PLANNING Phase of
Identification and Conception of the Projects and Plans of Performance
MATURATION Precontractual
Phase for Informative
Studies, Public Information,
Declaration of Environmental
Impact, First draft and Project
EXECUTION Tendering, Awarding, Contracting and Financing of the Construction
OPERATION Phase of
Reception, Maintenanc
e and Operation
Antonio López Corral 20
APPROXIMATE TERMS: 8,5 YEARS
Modified, Revision of Prices
and Complementary
Works
– Informative study 30.5 months
– Project 20.5 months
– Tendering process 6.0 months
– Construction 24.0 months
– Reception and Liquidation 10.0 months
– TOTAL 91.0 months
– Informative study 30.5 months
– Project 20.5 months
– Tendering process 6.0 months
– Construction 24.0 months
– Reception and Liquidation 10.0 months
– TOTAL 91.0 months
TERMS IN THE INFRASTRUCTURE PROVISION SYSTEMTERMS IN THE INFRASTRUCTURE PROVISION SYSTEM
Antonio López Corral 21
INVESTMENT AND FINANCING IN TRANSPORT STATE INFRASTRUCTURE IN SPAIN
INVESTMENT AND FINANCING IN TRANSPORT STATE INFRASTRUCTURE IN SPAIN
20%20%Private Capital
Public Budgetary
40%40%
FF.EE
5%FF.EE
5%
20%20%Public non Budgetary FF.EE
15%
FF.EE
15%
Ministry30%30%
Public Companies
50%50%
20%20%Private Sponsors
EXECUTION
TOTAL FINANCING 2000-2006 : 60.300 MILLION €
60%%
60%%
20%20%European Funds
20%20%Private Capital
FINANCING
Public (Budgetary and not
Budgetary)
Public (Budgetary and not
Budgetary)
GRACIASGRACIAS
© Antonio M. López Corral
Antonio M. Lopez Corral
Catedrático de la UPM
Tf.: (+34) 91 533 44 96
Fax: (+34) 91 533 44 96
E-mail: [email protected]
Antonio M. Lopez Corral
Catedrático de la UPM
Tf.: (+34) 91 533 44 96
Fax: (+34) 91 533 44 96
E-mail: [email protected]