Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
After reading through the linked articles, I'm still confused about exactly how the financing arrangements of E470 work. Clearly the original design and construction was done by a private organization, where a conventional road would be financed by the state, and designed and constructed by contractors. The financing of E470 was arranged by the private company, and they hold $16M of the construction bonds (while the bulk, $654M, was issued to the public), and they operate the highway and collect the tolls to repay the bonds.

But the actual ownership of the road still resides with the public, specifically the various towns through which the road passes.

The public-private partnership is new in this case, but it's a construction partnership, not a transfer of ownership.

I'm not familiar with the details how the "private" European roads are operated, but my understanding is that they are true private ventures, with the formal ownership and indefinite-term operation under the control of a private company. Here's a link to some information... http://www.autoroutes.fr/index.php?lng=2

by asdf on Thu Jan 19th, 2006 at 08:40:59 AM EST
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