The long-term sustainable provision of new and high quality maintained road stock is vitally important, especially in times of economic constraint such as Europe is currently experiencing. The Private Finance Initiative (PFI) is one method of financing such large-scale, capital intensive projects. An important aspect of this form of financing projects is that the risks are borne not only by the sponsors but are shared by different types of investors such as equity holders, debt providers, and quasi-equity investors. Consequently, a comprehensive and heuristic risk management process is essential for the success of the project. The proposition made within this paper is that the PFI mechanism provides a Value-for-Money and effective mechanism to achieve this. The structure of this PFI finance and investment on a particular road project therefore enables all project stakeholders to take a long-term perspective. This long-term perspective is reflected in the mechanism of a case study of UK – Class A trunk roads which are examined in detail. This paper presents a novel solution to a modern dilemma.


    Access

    Download


    Export, share and cite



    Title :

    Private Finance Initiative (PFI) for Road Projects in UK: Current Practice with a Case Study


    Contributors:


    Publication date :

    2011




    Type of media :

    Article (Journal)


    Type of material :

    Electronic Resource


    Language :

    Unknown




    Financing Road Projects by Private Finance Initiative: Current Practice in the UK with a Case Study

    Akbiyikli, R. / Dikmen, S.U. / Eaton, D. | British Library Online Contents | 2011



    Performance assessment of a private finance initiative road project

    Rıfat Akbıyıklı | DOAJ | 2013

    Free access

    Performance assessment of a private finance initiative road project

    Akbiyikli, R. | British Library Online Contents | 2013


    London Underground's experience of funding projects through the Private Finance Initiative

    Gannon, M. J. / Snow, W. H. / Institution of Mechanical Engineers; Railway Division | British Library Conference Proceedings | 1998