TRB 2014 Project Delivery Committee Meeting AFH15 Presentation (January 14, 2014)

Transcription

1 TRB 2014 Project Delivery Committee Meeting AFH15 Presentation (January 14, 2014) Finnish Transport Agency Presented by Pekka Pakkala (Ramboll Finland Oy)

2 Main Road Route 4 Järvenpää Lahti PPP Project FINLAND

3 Main Road Route 4 (Järvenpää Lahti) Seppo Mäkinen 3

4 Background The first PPP road project in Finland The Motorway figures Length 70 km Number of new bridges 88 Number of trees and plants planted ~ Noise barriers - 8,5 km Moose fences km Amount of recycled material used m 3 Soil and rock excavated m Seppo Mäkinen 4

5 Important dates in the project March 19, 1997 > The Contract signing November 12, 1998 > The first section 30 km opening September 17, 1999 > The second section 40 km is opening October 13, 1999 > The 1st & 2nd sections opening ceremony August 30, 2012 > The contract expiring August 30, 2012 > Ownership reverts to FTA CONTRACT VALUE (EUR) 210 million Seppo Mäkinen 5

6 The Bidders GROUP VT 4 FORMED BY FIVE FINNISH COMPANIES AND DRAGADOS SA (SPAIN) NELOSTIE OY FORMED BY SKANSKA AB (SWEDEN), SKANSKA OY AND TEKRA OY BOUYGUES SA (FRANCE) Suomen Laatutie Oy NCC (SWEDEN), NCC - PUOLIMATKA OY VIANOVA FORMED BY YIT-YHTYMÄ OY, NESTE OY AND RAKENNUS OY LEMMINKÄINEN (FIN) Seppo Mäkinen 6

7 Tender Evaluation The bid evaluation criteria: Quality 10% and Price 90% The evaluation of the quality typically consider project organization, technical solutions, financial solutions, quality management, risk management and safety Evaluation of the bids included an award bonus for faster completion. The affordability envelope for all PPP projects has been publicly known English language used (but Finnish Law decides) Seppo Mäkinen 7

8 Public Sector Comparator Maintenance Costs Interest & Admin Costs Investment costs 106 ROAD COMPANY PSC Seppo Mäkinen 8

9 Contract time and principle Signing of the concession agreement The Finnish Transport Agency (FTA) Road Company Tieyhtiö Nelostie Oy Contract includes Road Company Tieyhtiö Nelostie Oy is responsible for the design, building, financing and operation of 70 km of motorway for 15 years between the cities of Järvenpää and Lahti in southern Finland Payment mechanism Shadow Toll Based on annual traffic volume Average annual service payments between M. (Paid quarterly) End of contract First PPP project to be handed back to the client Seppo Mäkinen 9

10 Investor s and Financiers INVESTORS/EQUITY Skanska Finland Invest AB 40 % Hyder Investment BV 30 % Several other minor shares 30 % FINANCIERS Sampo Bank, Finland 50 % Nordic Investment Bank (NIB) 50 % Seppo Mäkinen 10

11 Steps before hand-back Started three years before the contract end date The process, related reviews, and meetings were agreed at the beginning of the hand-back A clear guidance on the hand-back was drawn up Joint meetings between Nelostie Oy and FTA as many as needed Road Company Nelostie Oy began inspections 3 years prior to the end of contract FTA makes own inspections Repairs included drainage elements, clearance of trees & vegetation, and removal of large obstructing rocks At hand-back, the road fulfilled all requirements stipulated in the contract Seppo Mäkinen 11

12 Quality standard Hand over condition of pavement Maximum depth of rut is 20 mm/100 m Maximum average depth of rut is 14 mm/1000 m IRI 3,5 mm/m (maximum) Seppo Mäkinen 12

13 Quality standard Bridges Complete inspection of every bridge during last 3 years, reports to the Bridge Register Schedule for needed repairs prior to hand over Required information to FTA bridge register Seppo Mäkinen 13

14 Quality standard Drainage and groundwater Checking: Functionality Groundwater protection Cleaning of pipelines and concrete gutters Seppo Mäkinen 14

15 Quality standard Green areas Plants, trees and bushes > trimming and cutting Moose fences > repair if necessary Animal fences > opening service road if necessary Noise Barriers Inspection on facade Seppo Mäkinen 15

16 Quality standard Traffic signs Inspection of reflection Road lightning and electricity Transfer agreements to FTA Check the condition on lightning poles Return in switch on the light condition Automatic traffic calculation points Will be handed over to FTA Seppo Mäkinen 16

17 Safety Performance KVL Traffic amount and accidents on Highway 4 Järvenpää - Lahti Year 0 Deads Traffic Injured Seppo Mäkinen 17

18 SHADOW TOLL PAYMENT Traffic There was a traffic risk to contractor if volume was below the Zero Band Automated traffic counters in each lane The traffic was divided into four zones Each zone is priced differently for a each vehicle every year Payment four times a year Indices Asphalt inflation & Typical Routine Maintenance Contract cost Seppo Mäkinen 18

19 BENEFITS AND CHALLENGES Private financing fast construction time number of accidents decreased (faster than traditional funding) freedom in construction (no limits for working hours) Innovation more costly ground stabilization prefabricated bridges Economic life (new railway was opened in 2006) Good quality road & faster journey time land use more effective, town planning & tourism cooperation connecting cities Future PPP development how to manage changes to norms & others requirements how many PPPs can be bound to future budgets Finland has AAA rating & government can borrow cheaper Seppo Mäkinen 19

20 Art Along The Motorway 4 Courtesy of Nelostie Oy Seppo Mäkinen 20

21 Art Along The Motorway Courtesy of Nelostie Oy Seppo Mäkinen 21

22 Art Along The Motorway 4 Courtesy of Nelostie Oy Seppo Mäkinen 22

23 Art Along The Motorway 4 Courtesy of Nelostie Oy Seppo Mäkinen 23

24 Art Along The Motorway 4 Courtesy of Nelostie Oy Seppo Mäkinen 24

25 Art Along The Motorway 4 Courtesy of Nelostie Oy Seppo Mäkinen 25

26 Objective for the E18: Achieving motorway level by 2015 in compliance with approved EU-level plans (H1, H3 & H5 are PPP projects) Project Road Cost est H1 Mw 1 Muurla-Lohja, completion H2 Ring III Vanhakartano-Lentoas.tie 255 H4 Mw 7 Hamina Bypass 175 H3 Mw 7 Koskenkylä-Loviisa-Kotka 285 H5 Mw 7 Hamina-Vaalimaa 196 = PPP project (actual construction time) = direct budget funding (actual building time) = PPP project approval Seppo Mäkinen 26

27 THANK YOU! Questions? Further information: Pekka Pakkala or Seppo Mäkinen