2011年-世界发展银行全球_Private_Activity_in_Infrastructure_in_East_Asia_and_Pacific_Declined_for_Third_Consecutive_Year_in_2010_6页_618kb

PPI Data Update Note 56: August 2011

Core Content

This document provides an update on private participation in infrastructure (PPI) in the East Asia and Pacific region for the year 2010. It outlines the number of projects and investment commitments, highlighting the decline in private activity compared to the previous year. The report also details the distribution of investments across various sectors and countries, with a focus on energy, transport, and water and sewerage.

Main Points

• Overall Activity Decline: In 2010, 36 infrastructure projects with private participation reached financial or contractual closure in seven low and middle-income countries, involving investment commitments of US$10.9 billion. This represents a 9% decline in investment and a 45% drop in the number of projects compared to 2009.
• Regional Investment Breakdown:
  • Energy accounted for 68% of the regional investment, with 18 projects across six countries and US$10.3 billion in investment.
  • Telecom had no new projects but attracted US$3.5 billion in investment, a 27% drop from 2009.
  • Transport saw three new projects with US$751 million in investment, a 76% drop from 2009.
  • Water and sewerage had 15 new projects and US$635 million in investment, a 13% increase from 2009.

Key Sectors and Projects

Energy

• Dominant Sector: Energy was the largest contributor to PPI investments, accounting for 68% of the total regional investment.
• Investment Highlights:
  • Electricity generation had 17 projects and US$10.2 billion in investment, representing 99% of energy sector investment.
  • Transmission line in Cambodia accounted for the remaining US$107 million.
• Large Projects:
  • The Hongsa Coal Power Project (Lao PDR/Thailand) was the largest, with US$3.71 billion in investment.
  • GNPower Mariveles Coal Power Plant (Philippines) and Paiton III Thermal Power Plant (Indonesia) were the second and third largest, with investments of US$1 billion and US$1.45 billion, respectively.
  • Energy Development Co (Philippines) sold a BacMan Geothermal Power Plant through full divestiture.
• Private Participation Types:
  • Greenfield projects (BOT and BOO) attracted 87% of the regional investment and 30 of the 36 new projects.
  • Concessions accounted for 3% of the investment and 5 projects.
  • Divestitures represented 10% of the investment and 1 project.

Transport

• New Projects: Three new projects were implemented in two countries.
• Investment: US$751 million, a 76% drop from 2009.
• Projects:
  • Philippines: Two concessions for seaports: North Harbor concession and Batangas Port Phase 2.
  • Vietnam: A seaport under a BOT contract: Cai Lan International Container Terminal LLC.
  • Malaysia: Sold 13.7% of its stake in Malaysia Airports Holdings Bhd in two tranches, increasing the divested share to 31%.

Water and Sewerage

• New Projects: 15 new projects, all in China, representing a 52% drop in the number of projects compared to 2009.
• Investment: US$635 million, a 13% increase from 2009.
• Private Participation Types:
  • Greenfield projects (BOT) accounted for 93% of the sector's investment.
  • Concessions (ROT) represented 7% of the investment.
• Notable Projects:
  • Chongqing Water Affairs in China attracted US$512 million through a public offering, representing 81% of the sector's investment.
  • Wastewater treatment plants accounted for 14 of the 15 projects.
  • China had the lowest activity in the energy sector, with 2 projects and 6% of regional investment.

Summary Table

Conclusion

The report underscores a significant decline in private infrastructure activity in the East Asia and Pacific region in 2010, with energy remaining the most active sector. China experienced a notable slowdown in private activity, while the Philippines and Indonesia were key contributors to energy projects. The data highlights the concentration of investment in greenfield projects, particularly in electricity generation, and the role of public offerings and concessions in the water and sewerage sector.