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All foreign transactions will be subject to FIRB review, a process that will now take six months instead of 30 days.
Airport
The measures which, the government is adopting in light of the coronavirus pandemic, amount to $448.5m and are aimed at helping airlines and toll road users.
Infrastructure Australia has put an emphasis on resilience in its 2020 Priority List, but investors note that there are high levels of competition for a limited number of assets.
The local government rejected plans by Britain’s ninth busiest airport to grow its passenger limit from 10 million to 12 million on environmental grounds.
London UK
In our final Deep Dive instalment, we look at the UK, the first to emphatically reject PPPs, and find an unresolved debate on value-for-money and poorly shared refinancing gains as lessons to be learned.
The twin spans of the Blue Water Bridges international crossing between the cities of Port Huron, Michigan and Sarnia, Ontario is one of the busiest border crossings between Canada and the United States.
In the third instalment of our Deep Dive into PPPs, we look at North America and find the private sector has to help the model transition to a more developer-owned or managed scheme.
Future of PPPs
Contractual rigidity, value-for-money questions and bad risk allocation all threaten to sink the model. Major intervention will be needed to bring it back to health.
The US presidential candidate unveiled a ‘community-driven’ plan that would encourage local governments to fix existing infrastructure and invest in major, long-term projects.
Number 10 Downing Street
The UK government’s ‘infrastructure revolution’ could come with a change to how Treasury assesses projects’ value for money. That would help explain why the private sector’s role in it appears limited.
Airplane
But interest from the private sector was strong with 18 firms expressing interest in operating Lambert airport under a PPP agreement that would have generated $2bn in net proceeds for the city.
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