The United States P3 market has been inconsistent to date, but future growth points to it being one of the largest markets in the world Total Capital.

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Presentation transcript:

The United States P3 market has been inconsistent to date, but future growth points to it being one of the largest markets in the world Total Capital Value of US P3 Projects per Year Source: Aon Infrastructure Solutions analysis is based on 2004 to 2015 InfraAmericas project data and 2004 to 2015 IHS Global Insights projections for US infrastructure spend. Includes Highways and Streets, Bridges, Sewer Construction, Water Supply, Transportation, Parking Garages, Public Health Care Buildings and Government Buildings %1.2%3.5%1.2%1.0%3.5%2.6%0.6%2.6%2.5%3.1%5.1% Sum of Capital Value (USDm) of all P3 projects Total # of projects % of All Infrastructure Projects in Related Industries*

In a P3 project, risk is transferred to the party best able to manage it Traditional Design-Bid-Build ProcurementPublic Private Partnership (P3) Owner’s Risks Bidder’s Risks Owner’s Risks Bidder’s Risks Design Financing Facility Management Lifecycle Facility Availability, Performance, and Asset Value Design Financing Facility Management Lifecycle Facility Availability, Performance, and Asset Value Construction Performance Specifications

Case Study: Rapid Bridge Replacement Project in Pennsylvania Capital Value: USD $900 million Payment Mechanism: Availability-Based Delivery Model: DBFOM Project: 558 geographically dispersed, structurally deficient bridges across Pennsylvania Target completion: August 30, 2018 Status: Financial Close reached in 2015 Aon’s Role: Risk and Insurance Advisor to the DBJV

Case Study: Rapid Bridge Replacement Project in Pennsylvania Location of Bridges

Successfully transferring risk in a project goes beyond insurance and drives the value that project owners achieve with the model Deliver a project that provides the best value for money Continue to refine the proposed risk allocation and foster dialogue between the project owner and the bidding teams Recognize that commercial negotiations are driven by a fundamental understanding of risk and the degree to which that risk can be transferred Provide education on P3 risk to all consortium members