13.05.

2016

Public-Private Partnership
[PPP]

Valalmawia MCS
Joint Secretary, UD&PA/GAD

1
 Why PPP….?
 For economic growth and development, we need
a lot of investments. Government could not
provide enough funds for investments in public
goods (infrastructures & services)
- Private Sector has a lot of capital for investments. If
a system can be developed whereby private players
can invest in public goods, they can help create
investments, and also earn profits.

 Thus, to develop infrastructures for

development, the government needs to work out
a system where private players can come in
towards creation of public infrastructures which
are traditionally provided by the government.

2
  There are various services which could not
sufficiently be managed by government agencies
due to various inherent institutional weaknesses.
But such services are required to be provided to
the citizens.
- Private Sector has expertise, managerial capability
and institutional strengths to manage various services
and utilities efficiently. If a framework is developed
whereby private players can come in, it will result in
good management of services, better services, etc.

 It is with the realization of these advantages, and

the possibility of leveraging private capitals and
management expertise, that the public authorities
have now introduced the concept of Public-Private
Partnership

3
  India spends just 6 percent of its GDP on
infrastructure, compared to China’s 20 percent.12
To achieve its targeted GDP growth rates, the
country will need to invest approximately $250
billion in infrastructure over the next five years.

 “The importance of infrastructure for rapid

economic development cannot be overstated,”
explains P. Chidambaram, then India’s Finance
Minister. (Budget Speech 2005-06)

 “The most glaring deficit in India is the

infrastructure deficit.”

 The resultant effect is retardation of economic

growth

4
 Let us look at PPP …
 Definitions
 Essence of PPP
 Parties in PPP
 Financial & Economic Viability
 Models of PPP
 PPP in Infrastructures
 PPP in Services
 PPP in India
 PPP Policy of Mizoram
 PPP & Future Economy?

5
 PPP-Definitions
1) Definition 1: A simple, though not universally
acknowledged definition of PPP refers to
arrangements in which the private sector supplies
infrastructure assets and services traditionally
provided by governments (in collaboration with the
government).
2) Definition 2: The term “Public–Private
Partnership” describes a range of possible
relationships among public and private entities in
the context of infrastructure and other services.
3) Definition 3: PPP is a contract between a public
sector authority and a private party, in which the
private party provides a public service or project
and assumes substantial financial, technical and
operational risk in the project.
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  Standard & Poor’s Definition – A PPP is any
medium – long term relationship between the
public and private sectors, involving the sharing of
risks and rewards of multi-sector skills, expertise
and finance to deliver desired policy outcomes.

 European Commission’ Definition – A PPP is a

partnership between the public sector and the
private sector for the purpose of delivering a project
or service traditionally provided by the public
sector. It recognizes both sides have certain
advantages and by allowing each to do what is
does best, public services and infrastructure can
be provided in the most efficient manner.

7
 Thus –
PPP means an arrangement between government (or
statutory entity or government owned entity) on one side
and a private sector entity on the other, for the provision of
- public assets and/or
- related services for public benefit,

through investments being made by and/or management

undertaken by the private sector entity for a specified
period of time, where
- there is a substantial risk sharing with the private
sector and
- the private sector receives performance linked
payments that conform (or are benchmarked) to
specified, pre-determined and measurable performance
standards.
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 Essence of PPP
 PPP Arrangement addresses the financing
requirement for infrastructure and services
 PPP are long term contracts of the public authority
with private entities
 It lays down a level playing field for participation of
private sector for investments under regulatory arm
of the Government
 It utilizes Expertise in private sector for building up
of infrastructures, operation & maintenance
 It serves the dual purpose of-
 Creating public infrastructures on the initiative of the
government
 Business interest of the private sector protected

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 A strong PPP allocates the Tasks, Obligations,
and Risks among the public and private partners
in an optimal way.

 PPP presents a framework –

while engaging private sector, acknowledge the

structure and role of government for ensuring that
social obligations are met and successful sector
reforms and public investments achieved

 Effective PPP recognises that the public and

private sectors each have certain advantages,
relative to the other, in performing specific tasks.
Risks and Tasks are allocated to the party that can
best handle them.
  PPP represent partnership in action with huge
stakes for both the public sector and private sector
agencies to succeed collectively. PPP is not about
finance alone, but are also about improving the
quality and efficiency of public services.
 The interests of stakeholders taken into
consideration and Cost-Benefit duly taken care of
 Collection of optimal user fees ensure long run
sustainability
 Collection of user fees ensure provision of quality
services to the users
 It results in re-allocation of roles, incentives and
accountability
 It is a catalyst for broader reforms

 It results in overall economic growth

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  An economy requires huge investment for building up
of infrastructures for economic development, and for
various other activities. The government alone cannot
undertake investments, nor does it have sufficient
funds for investments.

 The government does not have the expertise to take

up some complex projects, and for management of
specialised assets and services. The expertise in
private sector could be pulled in for such purposes
through PPP.

 Role of government in economic activities have

become a facilitator and regulator. PPP arrangement
provides a role for investment by private sector
through an arrangement with the government.

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  PPP may apply in both Service Sector and
Infrastructure Sector
 PPP creates the rooms for expansion of activities
with participation of private parties in areas that
hitherto are taken up solely by the Government
 PPP is the preferred mode of providing
infrastructure and services in modern economy
 ‘Value for Money’ gives higher satisfaction to tax
payers’
 PPP have enabled the government to engage private
sector in various activities related to infrastructures
and services.
 The financial viability (bankability) of projects
attracts private sectors for investments
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 Processes in PPP Projects
[PPP Toolkit, Govt. of India]

 Phase 1 – Identification

 Phase 2 - Full feasibility

 Phase 3 – Procurement

 Phase 4 - Operation

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  Phase 1 – Identification

 Phase 1 takes place before entry to the PPP development

pipeline. Its purpose is to identify and test projects so that the
quality of the PPP pipeline is increased. At the completion of
this Phase the Sponsoring Agency will have identified a project
that is suitable for further development as a PPP. This project
then enters the PPP pipeline, which starts in Phase 2, where it
undergoes more detailed study and preparation.

 Responsibility for Phase 1 will be with the Sponsoring

Authority (eg ministry(s) for Central-level projects, sponsoring
department(s), Urban Local Body, or other statutory or public
sector corporate entity as appropriate to the case). Support
might be provided by dedicated PPP agencies, such as a PPP
Cell or Project Development Agency, and the Sponsor may wish
to engage external advisors.

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  Strategic planning to identify and prioritise infrastructure
service needs and identify a set of potential projects.

 Project pre-feasibility analysis to assess specific needs and

consider service delivery options, and to test if an identified
project is feasible and worth developing further.

 PPP suitability checks of the identified project to test

suitability for development as a PPP.

 The first Readiness Check, based on the results and outputs

of the suitability and mode tools and the pre-feasibility study.

An internal clearance should take place within the Sponsoring

Agency before projects are allowed to enter the PPP pipeline. If
this Readiness Check is favourable the project is
given Internal Clearance to move to Phase 2.

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  Phase 2 - Full feasibility

 Planning and preparing for PPP project management

 Carrying out a detailed feasibility study including PPP due
diligence of the project, including:
 Updating the Financial Viability Indicator model and using it
to reassess the impact of changing parts of the project design and
verify the feasibility study model results
 Using the VFM Indicator Tool to test the likelihood of achieving
Value for Money, based on the results of the feasibility study and
the experience and knowledge of the analytical team
 Deciding on the best-suited procurement method for the
project
 Preparing first drafts of the key project documents
 Carrying out Readiness Check, to check that the project is
ready to proceed to the clearance stage
 Applying for In-principle Clearance from the appropriate
Appraisal / Clearance Authority. If In-principle Clearance is
granted then the project is able to proceed to PPP
17 procurement.
  Phase 3 – Procurement

 Important activities that should be carried out to prepare for

procurement are described
 The EOI and the EOI process are described
 The qualifying process, covering the RFQ and shortlisting, is
described
 Final drafts of key bidding documents are discussed, including the
contents of the RFP
 The requirements and process for Readiness check 3 and
the application for Final Approval are outlined
 The bidding process, covering RFP and bid evaluation, is described
 Finally, contract finalisation and award are covered.

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  Phase 4 – Operation (Project management & Monitoring)

 Phase 4 begins once the project reaches technical closure with the signing of
the Concession Agreement. The life of the PPP during Phase 4 involves:
 Implementation and operation of the project by the concessionaire and
 Performance monitoring and contract enforcement by the Sponsor.
 When the contract is signed the Sponsor goes from preparing the PPP to
managing its implementation and ongoing operation according to the terms
set out in the Concession Agreement. The Sponsor remains engaged with the
PPP in this new role until the end of the contract’s life.
 Contract management and monitoring is an especially important part of a
PPP.
 The responsibilities and obligations for contract management will be
specified in advance in the Concession Agreement.
 Responsibility for Phase 4 will typically be with a Contract Management Team
within the Sponsor.
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 Parties in PPP Arrangement
 The public partners in a PPP are government entities,
including ministries, departments, municipalities, or
state-owned enterprises/ agencies.
 The private partners can be local or international and may
include businesses or investors with technical or financial
expertise relevant to the projects or services.
 The Government’s contribution includes capital for
investment (gap funding), transfer of assets and other
commitments that support the partnership. Besides the
government provides social responsibility, environmental
awareness, local knowledge and ability to mobilise
political support.
 Private sector’s role includes the required capital for
investments and the expertise in commerce, management,
operations and innovations to run the business efficiently.
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 Economic Viability
 Economic Viability
Projects must be economically feasible and able to
secure financing – whether from public,
commercial, or concessional sources – while having
a positive impact on society and the environment.

 Financial Viability
Financial viability can be defined as a business'
ability to generate sufficient income to meet its
operating expenses and financial obligations, as
well as providing the potential for future growth. In
short, a financially viable project is a bankable project.

 A PPP Project needs to be economically and financially

viable.

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  Within the scarcity of resources, the key
consideration would be to address the scarcity of
resources by pulling resources from the private
agencies for building infrastructure, or for meeting
O&M Costs of services

 A project should contribute towards laying down

economic infrastructure or in the case of service,
economic service should be rendered

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 Financial Viability
 Financial viability may be termed as the long term
financial returns that can be generated in the
formation of infrastructure or service if the same is
taken up on business considerations

 The total surplus generated by the project over its

entire life has to be averaged to find out yearly return.
This yearly return, when calculated on the total
investment needed for the project, tells us about the
Return on Investment (RoI). This ratio tells us the
surplus-generating capacity of the investment. One
must know how much RoI a viable project must
generate. This is an important question that needs to
be answered to know the financial viability. The simple
rule to assess the viability is that the RoI must be
greater than the cost of investment.
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  Financial viability depends to a great extent on the
level of fees/tariff levied from the users
 The level of fees/tariff is determined by the market
forces and availability of substitutes
 With the optimum level of fees/services, many
projects/services are financially viable
 The financial viability again depends on the
possibility of providing services at reasonable costs
 The readiness to pay user fees needs to be duly
considered and carefully projected
 In the arrangement where the government is a
party, the prevailing political atmosphere needs to
be reckoned with
 Assessment of revenues needs to be realistic and
take into account all relevant issues
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 Financial Viability Gap
 A project or service is said to have a viability gap if
there is a mismatch in the costs vis-à-vis the long
term profits generated by a project or service

 Financial viability gap is a relevant consideration

when the project or service is economically justified,
but is not profitable enough to justify the
project/service on financial considerations

 In such cases, intervention of the government is

justified to make the project/service financially
viable

 The extent of viability gap is a relevant issue in

taking up such projects or services

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 Types and Models of PPP

 Infrastructures

- Concessions

- Build-operate-transfer (BOT) and similar

arrangements (BOO, BOOT, etc.)

- Design-Build-Operate (DBO)

 Services
- Management/Service Contracts

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 PPP in Infrastructures
 Public sector traditionally provides public
infrastructures
 It is very difficult to provide all public
infrastructures by the public authority alone, due
to scarcity of resources, and due to complexities of
various projects.
 PPP helps in development of infrastructures. Such
forms of project development include ‘Concession,
BOT, DBO, etc.’
 The huge gap in investment could partly be met
through leveraging PPP mode
 PPP provides a useful instrument for infrastructure
development due to competitiveness of pricing and
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value-for-money considerations.
  Concessions –
A Concession gives a concessionaire the long term
right to use all utility assets conferred on the
concessionaire, including responsibility
for operations and some investment. Asset ownership
remains with the authority and the authority is
typically responsible for replacement of larger assets.
Assets revert to the authority at the end of the
concession period, including assets purchased by the
concessionaire. In a concession the concessionaire
typically obtains most of its revenues directly from
the consumer and so it has a direct relationship with
the consumer. A concession covers an entire
infrastructure system (so may include
the concessionaire taking over existing assets as well
as building and operating new assets). The
concessionaire will pay a concession fee to the
authority which will usually be ring-fenced and put
towards asset replacement and expansion.
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  In essence, the concession arrangement is that the
private sector (concessionaire) is responsible for
full delivery of the services including operation &
maintenance, collection, management,
construction and rehabilitation of the system
 Assets are owned by the government (including the
concession period)
 The government establish standards and ensure
that the concessionaire meet them
 The concessionaire collects tariffs from the users
as determined in the concession contract
 Thus, the role of the government shifts from
provider of service to regulator

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  BOT and Similar Arrangements (BOT, BOO,
DBFO, etc.)

A Build Operate Transfer (BOT) Project is

typically used to develop a discrete asset rather
than a whole network and is generally entirely new
or greenfield in nature (although refurbishment
may be involved).

In a BOT Project the project company or operator

generally obtains its revenues through a fee
charged to the utility/ government rather than
tariffs charged to consumers.

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  BOT is a specialised nature of concession. Hence,
distinction between Concession and BOT is quite
narrow, and mainly in its usage of the terms.

 In BOT, the private partner provides the capital

required for investment

 The private partner owns the assets, sufficient

enough to recover investment costs through user
charges

 The private party collects user charges

 The public sector agrees to purchase a minimum

level of output produced by the facility

 At the end of the contract, the ownership of asset

reverts back to the government.
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 BOOT

 Build-Own-Operate-Transfer (BOOT) is a form of

project financing, wherein a private entity receives a
concession from the private or public sector to
finance, design, construct, and operate a facility
stated in the concession contract. This enables the
project proponent to recover its investment, operating
and maintenance expenses in the project. Due to the
long-term nature of the arrangement, the fees are
usually raised during the concession period. The rate
of increase is often tied to a combination of internal
and external variables, allowing the proponent to
reach a satisfactory internal rate of return for its
investment. (www.wikipedia.com)
 Design-Build-Operate (DBO)

In DBO Project the public sector owns and finances the

construction of new assets. The private sector designs,
builds and operates the assets to meet certain agreed
outputs. The documentation for a DBO is typically
simpler than a BOT or Concession as there are no
financing documents and will typically consist of a
turnkey construction contract plus an operating
contract, or a section added to the turnkey contract
covering operations.

The Operator is taking no or minimal financing risk on

the capital and will typically be paid a sum for the
design-build of the plant, payable in instalments on
completion of construction milestones, and then an
operating fee for the operating period. The operator is
responsible for the design and the construction as well
33 as operations.
 PPP in Services
 Various activities of the public sector can be
entrusted to private authorities under agreed
agreement
 Private sector takes up management of assetes
and provision of services – user fees are
regulated through the mechanism which form
part of the agreement.
 Private sector is paid either by the public
authority, and or, through user fees.
 Public sector is relieved of the job of managing
the services, and at the same time, the public
sector authority with the same level of
expenditure, can provide better quality services
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  Management Contract -

 It is the arrangement whereby the government contracts

out operation & maintenance of public service (utility,
hospital, port, water supply etc.)
 The required infrastructure already created and the
private parties provide working capital for daily
maintenance
 The Government retains the assets, continue major
capital investments and sets tariff
 Private parties is responsible for management, and is
paid for the costs of labour and operating costs and
incentives
 Potential Strengths-
 Operational gains from private sector management
 Assets remain with the government and continue major
investments
 Contracts are easy to develop

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 PPP in India
 Realizing the huge potential offered by PPP, the Government
of India have taken up PPP on a big scale
 PPP Policy was drawn up and PPP Policy Guidelines was
drawn up in 2005.
 PPP-Viability Gap Funding Guidelines was also drawn up and
notified in January, 2006.
 A dedicated website, pppinindia.com was developed for
dissemination of information on PPP and knowledge sharing
 Various PPP Documents like Model RFP, Model Concession
Agreement, etc. were drawn up and are in place.
 Technical Assistance from ADB to provide handholding
support to 12 States in India.
 Such States now have PPP Policies and Institutional
frameworks.
 PPP have now started showing a sizeable share in investments
36
in infrastructures and services.
 Given the enormity of the investment requirements and
the limited availability of public resources for investment
in physical infrastructure, it is imperative to explore
avenues for increasing investment in infrastructure
through a combination of public investment, Public Private
Partnerships (PPPs) and occasionally, exclusive private
investment wherever feasible. The use of PPP an as
instrument of procurement for creation of infrastructure
assets and delivery of public services has been recognized
globally. Apart from bridging the deficit in financing
of public projects, PPPs also brings new and cost
effective technology for creation of infrastructure
assets, managerial efficiency, competency for
operation and maintenance of the created assets
and the contractual accountability on the private
party to ensure timely and quality infrastructure
service to the end users.
37 Source : www.pppinindia.gov.in
 VGF Scheme
 About the Scheme -

 To make infrastructure projects financially viable in

order to attract private capital
 Revolving fund within Ministry of Finance
 Specified process for obtaining VGF
 Project gets the fund during implementation
 In the form of grant - subject to a maximum of 40%
of Total Project Cost – with Central Government
grant not exceeding 20% and State Government
component not exceeding a further 20%
 Utilization - monitored by Ministry of Finance

38
  Criteria for availing Grant under VGF-

 PPP projects only

 Project implementation by Private Sector
Company
 Private Sector Company to be selected through
open competitive bidding
 Bid criteria: Amount of VGF required by Private
Sector Company
 Project based on contract or concession
agreement
 Service to be rendered on payment at a pre-
determined tariff or user charge

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 PPP in States of India
 Many States in India already have PPP Framework
 They have PPP & Infrastructure Policy
 They Established PPP Cell, with institutional
framework like PPP Apex Authority, etc.
 19 States in India have been shown as having PPP
system in place (www.pppinindia.com)
 Govt. of India availed Technical Assistance from
Asian Development Bank for assisting 12 States for
setting up PPP Framework during 2009-2016
 Many States have now taken up projects on PPP
mode. Convergence of projects of Central
Government with part PPP has become a common
feature of project implementation.
40
 PPP and Mizoram
 The Mizoram New Economic Development Policy clearly
recognises the importance of private sector in
infrastructure development. Para 39 provides -
“However, the economic reality of modern times clearly shows
that the task of developing infrastructural facilities can no
longer be left to the Government alone. It is incumbent upon
policy makers to come up with strategies and mechanisms to
encourage private sector participation in all aspects of
infrastructure development. Such mechanisms should provide
practical ways of turning tangible projects through the
provision of adequate finance, as far as possible, by adopting
a business approach to infrastructure services provision.
….

The win-win situation for both the Government and private

service providers ensures elimination of corruption to a
significant degree also, when transactions are made
41 transparent.
  Para 40:
The economic rationale for private investment in infrastructure
has to be grounded in the expectation that private sector
suppliers, operating within a competitive framework, will
reduce costs to the economy and thus promote efficiency. It is
important to distinguish between here between costs to the
economy and costs to the consumer. Public sector supply of
infrastructure services may appear cheaper for the consumer if
the service is provided at highly subsidized rates or, as in the
case of roads, even free of charge. However, low user charges
in these cases are less a reflection of economic efficiency than
of hidden subsidies, usually in the form of tolerance of large
losses. Consumers pay for these subsidies either directly in
the form of higher taxes or indirectly in the form of other
government expenditure forgone, but these costs are not
always recognized.
…
it is logical to devise infrastructure strategies which encourage
42
private investment in infrastructure.
 Mizoram PPP Policy

 The Government of Mizoram has now a PPP Policy. It

was approved by the Council of Ministers in April, 2016
 Nodal Department is “Planning & Programme
Implementation Department”
 It was notified by the Government on 20.04.2016
 A PPP Cell is to be created which will take up various
activities in implementation of PPP Policy in the State.
 The Policy aims at facilitating and promoting role of PPP
in the creation of new infrastructure assets and for the
management of existing assets through PPP.
 The Policy lays down a broad framework for
implementation of PPP in the State.

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  Objectives-
 Leverage resources of State and Central
Governments to invite private sector investments in
provision of infrastructures and services
 Protection of the interests of users and sercuring
Value-for-Money
 Setting up efficient administrative mechanism for
selection of private developers
 Prepare a shelf of projects to be offered for PPP
 To provide Viability Gap Funding

 Scope: It covers various infrastructure sectors like

Roads & Bridges, Inland Water Transport, etc.

 Service Delivery through PPP: This PPP Policy

aims at service delivery through PPP within a
framework to be developed under this Policy.
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  PPP Apex Authority
 Chief Minister, Mizoram - Chairman
 Minister, Planning - Vice Chairman
 Minister, Finance - Member
 Minister, Law & Judicial - Member
 Minister, Industries - Member
 Minister, PWD - Member
 Minister of Line Deptt. - Member
 Chief Secretary - Member Secretary

 Apex Committee will grant in-principle approval

for all projects proposed to be developed in PPP
mode. In all PPP projects having investment
exceeds Rs. 100 crore, the Apex Authority shall
accord investment approval and selection of
developer.
45
  Empowered Committee for PPP
 Chief Secretary - Chairman
 Secretary, Planning - Member Secretary
 Finance Commissioner - Member
 Secretary, PWD - Member
 Secretary, Industries - Member
 Secretary, Law & Judicial - Member
 Secretary of Line Deptt. - Member
k

 Empowered Committee on PPP shall be the Nodal

Agency to achieve the policy goals and co-ordinate
with various authorities of the State and Central
Governments to facilitate private sector
investments in infrastructure and provision of
various services on PPP mode.

46
  The Policy recognises the following contracts:
 For existing infrastructures
 Management of assets by private operators
 Partial dis-investiture of the undertaking
 For new infrastructures:
 Service Contracts
 Management Contracts
 Lease Contracts
 Concessions
 BOT
 Joint Ventures
 Mizoram Infrastructure Development Fund is to be
established. Initial corpus fund of Rs. 20.00 crore
to be provided by Planning Department.

47
 Tasks Ahead
 We need to develop a Model Concession Agreement for
different sectors of Infrastructures (Roads, Water
Supplies, Power, Urban Sector, etc.) and various Services
 We need to develop Model RFP (Request for Proposals)

 We need to work out a Viability Gap Funding

Scheme/Guidelines for projects which require such
support
 We need to appoint Transaction Adviser (s). Role of the
transaction advisor: “The transaction advisor does all the detailed financial, technical
and legal work required to prepare the Project Sponsor to implement the proposed project.The
transaction advisor will complete a feasibility study to a standard that will enable the institution
to establish the commercial attractiveness and bankability of the project. During the procurement
phase, the transaction advisor will advise the Project Sponsor on optimum risk allocation and the
resultant contract structure including preparation of all necessary documentation and requisite
approvals. (pppinindia.com)
 A PPP Cell is to be established in Planning Department, as provided in our
Policy. We also need to institutionalize PPP in Departments. Nodal Officers to
48
be mapped, and provide basic trainings.
 Some Initiatives
 Even though the State Government has not formally
started implementation of PPP in infrastructures and
services, there are various activities which have semblance
of PPP nature;
 Handing over of management of Teirei SHP
 Handing over of management of Mizoram House at Vellore to
Presbyterian Church
 PPP in Solid Waste Management in Aizawl City, and
arrangement of Composting of Waste with Vermizo
 Construction of Mizoram House in Mumbai, in partnership
with M/s U.S. Roofs, and similar other proposals
 Outsourcing Management of Mizoram House at Chanakyapuri
 Outsourcing of Security at Mizoram House, Rajarhat, Kolkata
 Proposal for vertical extension of Millenium Centre through
PPP
 Even though these activities are not executed through PPP
Agreements, they can all clubbed together as initiatives
taken up with private players.
 There are many such other activities that may be
49 considered for PPP.
 Conclusion
 PPP activity is yet to make a meaningful dent in
Government of Mizoram
 Absence of policy on Infrastructure or Service Delivery in
the State Government had been one major hindrance.
Other institutional delivery mechanism are yet to be put
in place.
 In view of the sparse population and difficult geographical
setting, it may not be possible to take up many of the
projects on PPP Mode. However, we need to explore
avenues. Urban Sector projects, Power Sector, IT Sector,
etc. could qualify for PPP Projects.
 The announcement of the new PPP Policy may kick-start
the process in this direction.
 Let us all think of projects and services where the
concept of PPP could be fit in so that we may attain the
objectives of leveraging private resources and expertise.
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 THANK YOU

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