Transportudvalget 2013-14
TRU Alm.del Bilag 2
Offentligt
M51 – Kliplev Sønderborg motorvejen
Denmarks first road OPP ProjectM51 – Kliplev Sønderborg motorvejen
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Outline of Presentation••I. The Project & Current StatusII. Features of the OPP Project––––Competitive dialogueOutput based specificationsTechnical features & life cycle costing approachGeneral risk distribution – the contractual relationships in action
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III. Financial structure of OPP Kliplev Sonderborg explained–––What potential downside did the current financial structure of Kliplev bring?What potential upside can long term financing bring?What upside does OPP bring in comparison to design & build or traditional procurement
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IV. Advantages of OPP
M51 – Kliplev Sønderborg motorvejen
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I. Project & Current Status•Project Information– 26 km greenfield project, incl. 18 km ofsecondary roads– 7 interchanges– dual carriage way with emergency lane– Construction period: Feb 2010 – Mar 2012– Total Invest: ca. 1,1 bn DKKCurrent Status– Opening in Time in March 2012– Operations as planned– Smooth Winter Services– Good cooperation with VD– Project is optimized where possible
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Investor––––Strabag SEStrong PPP Track Record74.000 Employees World WideStrong base in core markets, expansion inNorthern Europe & Russia
M51 – Kliplev Sønderborg motorvejen
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III. Features of the Kliplev Sonderborg OPP•Output based specifications– Framework of Danish Road Rules as a guideline– High degree of freedom in technical solutions– Higher flexibility for solutions aiming atoptimizing the total cost of ownership overthe lifetime of the asset– Careful assessment as to the compatibility ofdifferent systems needs to be applied– This can be mitigated during the competivedialogue phases•Competitive Dialogue („CD“)– New form of tendering under PublicProcurement Directives– Allows a public entity to discuss how to bestachieve a wished result– Complex contracts (though not exclusivelylinked to OPP)– Compared to restricted procedure CD allowsfor early feedback and output based solutions– The competitive dialogue procedure definesthe wished output, instead of preferredsolutions
M51 – Kliplev Sønderborg motorvejen
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III. Features of the Kliplev Sonderborg OPP
M51 – Kliplev Sønderborg motorvejen
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III. Features of the Kliplev Sonderborg OPP
M51 – Kliplev Sønderborg motorvejen
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III. Features of the Kliplev Sonderborg OPP
M51 – Kliplev Sønderborg motorvejen
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III. Features of the Kliplev Sonderborg OPP• General Guideline under the OPP Kliplev Sonderborg– All risks are born by OPP unless specifically mentioned– Risk matrix below simplifiedOPPConstruction Risk (i.e. cost overruns)Political RiskForce MajeureProject Specific Change in LawGeneral Change in LawLand AcquisitionFinancial RiskO&M Risk (i.e. Cost Overruns)Design RiskChange RiskXXXXXXXXXXXXVD
M51 – Kliplev Sønderborg motorvejen
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III. Features of the Kliplev Sonderborg OPP••••One clientOne contractOne interfaceOne partner for 26 years
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III. Financial Structure – OPP Kliplev
M51 – Kliplev Sønderborg motorvejen
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III. Financial Structure – TraditionalApproach
2010
2011
2012
2012 Q1 2012 Q4
2013
2015
2020
2025
2030
2035
2038
Operating PaymentLoan Repayment
Total Invest (Equity & Loan)Dividend Payment
O&M Costs
M51 – Kliplev Sønderborg motorvejen
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IV. Advantages of OPP••••••Responsibility of contractor/investor beyond normal defects liabilityOne interface for construction & operationsAsset has to be optimized for the long term from the very beginningTherefore total cost of ownership are brought downdesign & build has no consequences beyond the defects liability periodInvestment opportunities for local assets is there
M51 – Kliplev Sønderborg motorvejen
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Thank you for your attention
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