A Framework for Determining the Viability of Public-Private Partnerships for Toll Road Projects in the Philippines

概要

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Charging for the use of toll roads consequently prices-out potential users whose willingness-to-pay is exceeded by toll fees that are charged. Therefore, economic gains such as travel time and vehicle operating cost savings will not be realized for those who have been priced-out. This reduction in the number of users may weaken the projects economic feasibility and financial viability. This presents a challenge to implementing projects though Public-Private-Partnership arrangements. A decision framework integrating objectives of the public sector and private proponent was proposed and applied to a prospective bypass road project. The analysis showed that the project was not viable for PPP within the current limits to public contribution to PPP projects. However, this test application demonstrated that it is possible, using a joint analysis of economic viability of the project and financial viability for the private partner, to show the feasible range of arrangements suitable within Philippine conditions.