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In
the 21st Century, Asia is expected to continue its frantic pace of
development as it catches up with the developed countries. The Asian
Development Bank (ADB) estimates that East Asia’s investment requirement in
infrastructure is in the region of US$1,000 billion. The ADB has also
indicated that the bulk of this will need to be privately funded. This for
the Transport sector in essence would mean that there is going to be more
privatised roads, privatised Light Rail Transit and Mass Rapid Transit
systems.
The
financing model is however going to be wide and varied as different
governments grapple with a mixture of government funding, multilateral
funding and private sector funding. Each model developed will reflect the
different risks inherent in the different countries. Transport Privatisation
is expected to continue unabated albeit restrained by the current East Asian
economic crisis. It is envisaged that most if not all of future Transport
projects will be privatised and this is expected to increase dramatically
when the East Asian economies recover from their current slump.
Malaysia
is well ahead of the other countries in the East Asian region. Its transport
privatisation programme has progressed well and various financing schemes
have been successfully implemented. Currently, due to the economic downturn
the number of new projects has reduced considerably. However, inlight of
future transport infrastructure needs, it is anticipated that this sector
will see significant growth as Malaysia catches up with the rest of the
developed economies.
Transport
Schemes and Systems Sdn Bhd undertakes the development stage of these types of projects
with special attention paid on the development of new privatised transport
schemes for implementation in the Klang Valley.
The
Transport Privatisation Process
Companies involved in transport concessions consider the development stage of
the Conceptual Proposal an extremely important stage of the whole process. An
average Transport Privatisation project at the development stage would
involve Lawyers, Financial Advisers, Transport experts, Land valuers,
Squatter relocation experts, Engineering consultants, Architects, Land
surveyors, Toll equipment consultants and Environmental consultants. The time
involved for the Development Stage ranges from between 8 months to 18 months
depending on the degree of complexity of the proposal.
This stage requires experience and valuable project management skills in
overall transport planning and project management to set out a well conceived
proposal on a Toll road concession, Light Rail Transit or Mass Rapid Transit
scheme. In addition numerous other transport and transport related schemes
could also be privatised with the right form and structure. This would once
again require a good broad overview of the transport network, transport
linkages, problems in the network as well as an understanding of transport
planning and management.
The
following are the different stages of the privatisation process.
Conceptual Proposal Stage
i.
Development of Conceptual Proposal
ii.
Revenue and Cost estimates
iii.
Financial Analysis
iv.
Presentation to Government
Development Stage
i. Presentation
to Technical Committee
ii.
Preparation of detailed Technical, Financial Proposal and Concession
Agreement
iii.
Negotiations with Government
iv.
Signing of Concession Agreement
Construction
Stage
Overall advisory role to
Construction Management team
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