2008年-世界发展银行全球_Investment_Commitments_in_Europe_and_Central_Asia_Doubled_in_2007_8页_436kb

Summary of Private Participation in Infrastructure Database (PPI) - Europe and Central Asia, 2007

Core Content

The Private Participation in Infrastructure (PPI) Database reported that investment commitments in Europe and Central Asia with private participation reached a new peak in 2007, totaling US$45.5 billion, which is double the amount of 2006. This region accounted for 29% of the year's total investment commitments in developing countries, the largest share among all developing regions.

Main Views

Investment Trends

• Total Investment Commitments: US$45.5 billion in 2007, the highest since 1990.
• Breakdown:
  • Physical assets: US$32 billion, representing 70% of total investment.
  • Payments to the government: US$13.6 billion, the second-highest in the region since 1990.
• Project Types:
  • Divestitures were the most common, accounting for 57% of investment and 21 of the 43 new projects.
  • Greenfield projects accounted for 36% of investment and 14 new projects.
  • ROT concessions totaled 3 projects.
  • Leases and management contracts accounted for the remaining projects.

Key Countries

• Russia was the largest contributor, accounting for 42% of the total investment in the region.
• Romania and Turkey each contributed 10%.
• The remaining 38% was spread among 22 countries.

Project Breakdown by Sector

• Energy accounted for 41% of investment, with US$18.6 billion.
• Telecommunications accounted for 48%, with US$21.8 billion.
• Transport accounted for 9%, with US$4.7 billion.
• Water and sewerage accounted for 2%, with US$1.1 billion.

Sector-Specific Highlights

Energy

• 23 new projects in 6 countries.
• Russia had the most significant activity, including:
  • Divestiture of 5 generating companies with 25,000 MW capacity.
  • Divestiture of 6 electricity distribution companies.
  • Proceeds from divestitures: US$11 billion.
  • Greenfield projects: two power plants (680 MW and 340 MW) under BOO schemes.
• Other notable projects:
  • Bosnia and Herzegovina: Stanari Thermal Power Plant (410 MW).
  • Bulgaria: Ruse Thermal Power Plant (400 MW) and Slanchev Briag Electricity Distribution Company (3,000 connections).
  • Georgia: Divestiture of 9 hydropower plants (409 MW) and 2 electricity distribution companies (875,000 connections).
  • Romania: Sold 10% of Transgaz, the state-owned natural gas transmission company.
  • Turkey: Implemented 2 natural gas distribution projects (Gaziantep and Trakya).

Telecommunications

• 8 new projects in 8 countries.
• Albania sold 76% of Albtelecom to a Turkish consortium.
• Six countries granted mobile licenses to new operators:
  • Georgia, FYR of Macedonia, Moldova, Montenegro, Serbia (in Kosovo), and the Slovak Republic.
• Romania issued a multiservice license to a new operator.

Transport

• 9 contracts implemented in 7 countries, with 6 related to airports.
• Armenia: 24-year concession for Shirak Airport.
• Georgia: 20-year lease for Batumi International Airport and a 48-year concession for the Batumi container terminal.
• Hungary: 30-year BOT contract for the M6 and M60 motorway expansion.
• Kazakhstan: 10-year management contract for Astana International Airport.
• Russia: Management contract for Sheremetyevo International Airport Terminal II.
• Turkey: 17-year lease for Antalya Airport and a 36-year concession for the port of Mersin (awarded in 2005, but delayed due to legal challenges).

Water and Sewerage

• 3 new contracts implemented in 3 countries.
• Georgia: Full divestiture of the Tbilisi water system (US$435 million investment).
• Poland: Divestiture of 50% of its water utility in Toszek.
• Romania: 25-year lease for the Otopeni water and sewerage utility.

Potential Projects

• At least 12 projects were awarded in 2007 but did not reach financial or contractual closure.
• Energy: Electrica Muntenia Sud (Bucharest), a 3,000-MW greenfield power plant in Russia, and the 919-MW Bandirma gas-fired power plant in Turkey.
• Telecommunications: Two mobile operators in Poland and one in Tajikistan.
• Transport: Two airport concessions in Kazakhstan and Turkey, two port concessions in Turkey, and two road concessions in Bulgaria and Bosnia and Herzegovina.

Canceled and Distressed Projects

• One project was canceled in Russia.
• Total canceled or distressed projects by 2007: 21.
• These projects represented 3% of all PPI projects and 2% of investment commitments in the region since 1990.
• The canceled project was in Tomsk, a 49-year lease for the city's water and wastewater services, terminated due to the utility's deteriorating financial health and service quality.

Concluded Projects

• Four management contracts were concluded in 2007.
• Three were for water utilities:
  • Gjakova and Rahovec (Serbia)
  • Bukhara and Samarkand (Uzbekistan)
  • Kavaja (Albania)
• One was for a power plant in St. Petersburg (Russia).