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Governments love competitive tension. They spend 18 months creating it. Market soundings. RFQs. RFPs. Best and Final Offers… or Optimization Phase in some places… Lawyers, financial models, technical advisers, probity officers… and 143 versions of a contract called FINAL. I love this game! Then they select the preferred bidder. Sign the contract. Open the champagne. Take a photograph wearing hard hats. Book holidays to Fiji. And kill the competition. Because the first auction is over. The...
Private investors love traffic risk. Especially when the government carries it. India wants to revive private highway investment. Its traditional BOT model had collapsed. Less than 5% of highway projects got someone signing a BOT contract. So the government changed the model. Traffic-risk sharing. Revenue support. Government buyback. Suddenly, private investors are interested again. Funny how that happens. Let’s be fair. Sharing traffic risk may be exactly the right decision. Traffic is...
Financial close. Champagne. Photographs. Congratulations. A few speeches about partnership, collaboration and the exciting journey ahead. This phase… and the consequent hangover… normally lasts a couple of weeks. Then you wake up and realise that you have something the size of the Titanic to deliver. And you may have been procrastinating… and drinking and eating too much. You suddenly remember: The document management plan must be submitted within 10 Business Days of Financial Close....