1. Africa Rail 2009 Workshop BOT - PPP Werner van Oudenhove
23 June 2009
Werner van Oudenhove
Head of Infrastructure, Rand Merchant Bank

2. Introduction
The PPP Framework
Gautrain Structure
Key Learnings & Ideas from Gautrain

3. The PPP Framework Multi-Sector issues … what’s in a name ?
Asset versus Contract
Regulatory Framework
Useful Life of Asset / Tenor
Sponsors
Public and Private Sector Champions
25 years is a long time … !
Considerations for Third Party Investment and Debt Finance … 3

4. Gautrain Example 4

5. Key Learnings & Ideas from Gautrain
Government and Contractor Equity
Revenue Structure
Operator Equity
Interface Risk
Complexity
Lender and Third Party Investor viewpoint … 5