1
Portuguese
HighOverview
Speed Rail Project
Project
Business and Procurement Model Presentation
General Overview and Status of the Project
13th Informal PPP Exchange
Lisbon, 6th July 2007
Porto, 5th June 2009
2
Institutional
Framework
3
Institutional Framework
Portuguese State
Spanish State
ADIF
Infrastructure
Manager
REFER
CP
Infrastructure Manager
Public Operator
RAVE
Private Operators
AVEP
• Fertagus
• Freight Operators
Rail Operators
IMTT
National Railway Authority
4
The Project
5
New Lines
HSR Trans-European
Transport Network
2020
 Central focus of the European
transport policy
 Strong pillar for the European sustainable
development, by
reducing the environmental
impacts of mobility growth
 Aiming the integration, cohesion,
competitiveness and reinforcement
of the European space
 Eliminate the existing bottlenecks of the main
European axis
 Supported on the European
scale expansion of the success achieved in
previous HSR
projects
Renewed Lines
V ≥ 250 km/h
V ≥ 230 km/h
V < 250 km/h
V ≤ 200 km/h
Information from UIC – High-Speed Updated 17.11.2006 - IB
6
Historical Milestones
2000
Creation of RAVE
Porto-Vigo
2001
Creation of AVEP
2002
Start of Feasibility Studies
2003
Portuguese/Spanish Summit
• Cross border HSR Axis
• Journey Time Objectives
2006
Porto-Madrid
± 2h45m
Aveiro-Salamanca
Lisboa-Madrid
Start of the Environmental Impact
Assessment Procedure
Jun/2008
Beginning of the Procurement Process
(1st PPP Tender)
Mar/2009
Beginning of the Procurement Process
(2nd PPP Tender)
Faro-Huelva
Lisboa-Madrid
± 2h45m
7
Portuguese HSR Network Main Objectives (1/2)

Enable a modern, sustainable and efficient
transport system

Reduce the country’s peripheral position, by
connecting Portugal to Europe

Contribute to the Atlantic south-west front
competitiveness

Accelerate the country’s economical and
technological development, also at the regional
level

Contribute to a better modal distribution, both for
passenger and freight, changing the actual
hegemony of road solutions
8
Portuguese HSR Network Main Objectives (2/2)

Increase mobility and competitiveness of the
port, airport and logistics systems
•
Conventional Railway Network
•
Main Ports
•
Main Airports
•
National Logistics Platforms Network
HSR as the Backbone of the Future
Portuguese Transport Network
9
High Speed Network
Passenger and Freight Traffic
Passenger Traffic
10
Population
 Geographic area between
Lisboa, Porto and Madrid
has about 17 millions of
inhabitants
 Lisboa, Porto and Madrid
represent around 60% of
total (about 10 millions of
inhabitants)
11
Demand Forecast
Porto-Vigo (100km)
3,1 millions
3:15h
1:00h
-2:15h
Lisboa-Porto (300km)
10,7 millions
2:35h
1:15h
-1:20h
Lisboa-Madrid (600km)
8,9 millions
9:00h
2:45h
-6:15h
Actual
Future
Reduction
Demand Forecast in 2030
12
Market Share (Long Distance Traffic)
Lisboa-Porto and Lisboa-Madrid axis
Air
7%
5%
59%
Road
82%
36%
Rail
11%
2003
2030
13
Priority Links
14
Priority Links:
LISBOA-MADRID
HSR + Conventional Rail between Évora and Caia
Traffic Type
Passengers + Freight
Journey Time
2h45m (direct)
Design Speed
350 km/h
Length (Lisboa-Caia)
206 km
Investment HSR
1.800 million € (exc. TTC)
Investment Conventional Rail
250 million €
Stations
Services Start
Lisboa, Évora and Elvas/Badajoz (Caia)
2013
(Caia)
Sines
15
Priority Links:
LISBOA - MADRID - THIRD TAGUS CROSSING (TTC)
HSR + Conventional Railway + Roadway
Traffic Type
Passengers + Freight
Length
13 km
Investment HSR
600 million €
Investment Conventional Rail
600 million €
Services Start
2013
(7 km over the river)
TTT
16
Priority Links:
LISBOA-MADRID – Terceira Travessia do Tejo (TTT)
17
Priority Links:
LISBOA-PORTO
Traffic Type
Passengers
Journey Time
1h15m (direct)
Design Speed
300 km/h
Length
290 km
Investment
4.500 million €
Stations
Services Start
Lisboa, Leiria, Coimbra, Aveiro, Porto
2015
18
Priority Links:
LISBOA-PORTO
Norte Line
% of utilisation
(peak hour)
Oeste Line
Norte Line
High Speed Line
19
Priority Links:
PORTO-VIGO
Traffic Type
Passengers + Freight
Journey Time
1h00m (direct)
Design Speed
250 km/h
Length (1st & 2nd phases)
55 km + 45 Km
Investment (1st phase)
845 million €
Investment (Global)
1.400 million €
Stations
Services Start (1st phase)
Porto and Braga
2013
20
Main Stations
&
New Lisboa
Airport Link
21
Lisboa Central Station (Oriente)
22
Lisboa Central Station (Oriente)
New Lisbon
Airport
23
Porto Central Station (Campanhã)
23
24
Socio-Economic
and
Environmental
Impacts
25
Economic and Budgetary Impact
 Several studies are unanimous regarding the positive economic result of the project
 Investment foreseen in the HSR, for the Lisbon-Oporto and Lisbon-Madrid axis, generates
globally positive effects in all the macroeconomics variables:

Creation, in the long term, of 56.000 new permanent jobs

Increase of the Private Investment in 126.000 million €

Increase of the GDP in 121.000 million €

Cumulative increase of 64.000 million € of tax revenues
 Positive effect in all Country regions
26
Social Impact – Time Savings
 Promotes greater social, economic and territorial cohesion, reducing the differences
in the mobility of people
 Integration in Trans-European Transport Network: Europe will be closer!
Base Map (60km/h)
Map considering travel time by rail
(1993)
Map considering travel time by rail
(2020)
Source: “Acessibility and Economic Development in
Europe” ; Vickerman & Spiekermann & Wegener, 1997
27
Social Impact – Access to HSR Services
 More than 50% of the population will be
connected with the main urban areas with a
total time travel of less than 2 hours (door to
door time); for 3 hours time will be around
90%.
 Consolidation of a stronger and more coherent
urban network, by increasing the influence of
the middle size urban centres.
Access to High Speed
Services
from
15
to
30
to
Journey
Lenght
(km)
Lisbon-Oporto
Oporto-Vigo
Lisbon-Madrid
312
152
628
Journey time in 2007
road
3:24
1:38
6:00
rail
2:34
3:30
9:00
2013/2015
in HSR
1:15
1:00
2:45
45
to
60
to
90
or more
28
Business and
Procurement
Model
29
Business Model – Strategic Goals
Affordable for the
Portuguese State
Minimize
Risks
BUSINESS MODEL
Provide High Level of
Service / Quality
Deliver the
Project on Time
30
International HSR Projects – Benchmarking Analysis
France
Spain
(Decades:
80 and 90)
(Decades: 80
and actual)
(Decade: 90)
Regulation
Planning
Establishment of Requirements
Articulation of the System
State
State
State
State
State
State
Financial Role
State
State
Private (PPP)
State and
Private
Private (PPP)
Private (PPP)
State
State
Private (PPP)
State and
Private
United
Kingdom
Holland
(2005)
PerpignanFigueras
Bordeaux-Tours
(France, 2007)
(France-Spain,
2005)
Strategic Role
Operational Role
Design
Build
Maintain
Operate
Trend
Reduction of State risk exposure
Private (PPP)
State and Private
Private (PPP)
31
Procurement Alternatives Analyzed: Infrastructure
 Traditional procurement (Short and medium Contracts)
 Traditional procurement (Large Contracts)
 Mixed procurement (Construction Contracts + PPP)
 PPP procurement (DBFM – Infrastructure + Operation)
 PPP procurement (DBFOM – Infrastructure and Operation)
Traditional
Private Sector involvement
Traditional (Large
contracts)
Mixed procurement
(Traditional +
DBFM)
DBFM + O
+
DBFOM
32
Business Model Selected: Infrastructure
Capacity Allocation and Railway Traffic Management (State/REFER)
Signalling / Telecommunications (PPP)
Substructure /
Superstructure
(PPP)
Substructure /
Superstructure
(PPP)
Substructure /
Superstructure
(PPP)
Substructure /
Superstructure
(PPP)
Substructure /
Superstructure
(PPP)
Reasons for the breakdown of the value chain:
Risk
and
Functionality
Value for Money
33
Procurement Process / Timetable: Infrastructure
Braga-Valença
2009
Lisboa-Pombal
2009
Lisboa-Poceirão / € 1.930 million
PPP Tender Launched on March 30
Pombal-Porto
2009
Signaling /
Telecommunication
July-2009
Poceirão-Caia / € 1.340 million
PPP Tender Launched on June 2
Bids Delivered on October 2
BAFO on June 1st
PPP Substructure /
Superstructure
Scope: Design, Built, Finance and Maintain (DBFM)
Concession Period: 40 years
Payment Mechanism: Availability (75%) + Maintenance (25%) + Demand (+-2%)
PPP Signaling /
Telecommunication
Scope: Design, Supply, Installation, Finance e Maintain (DBFM)
Concession Period: 20 years
Payment Mechanism: Availability
34
Poceirão-Caia PPP
Lisboa-Madrid HSL
35
1st PPP: Tender Process Timetable
Status
Announcement in the EU Official Journal
a
02.Jun.2008
Preparation of Proposals
02.Jun.2008 to 02.Oct.2008
4 months
a
Evaluation of Proposals - 1 st Phase
02.Oct.2008 to 23.Dec.2008
2,5 months
a
Negotiations and BAFO - 2 nd Phase
05.Feb.2009 to 01.Jun.2009
3 months
a
Evaluation of Proposals - 2 nd Phase
01.Jun.2009 to 05.Jul.2009
1 month
Ongoing
Governmental Award
06.Jul.2009 to 15.Jul.2009
1 month
Closing (Commercial + Financial)
15.Jul.2009 to 14.Sep.2009
2,5 months
Total » 15,5 months
36
1st PPP: Bidders / Consortiums
1. Brisa / Soares da Costa / Iridium / Dragados / Lena / Bento Pedroso / Odebrecht / Edifer /
Zagope / BCP Investimento / Caixa Geral de Depósitos
2. Eiffage / Forclum / SEOP / Wittfeld / FCC Construccion / Ramalho Rosa – Cobetar
3. Cintra / Meridiam Infrastruture Finance / H. Hagen / Conduril / Tecnovia / Novopca
4. Mota-Engil / Vinci / Somague / Teixeira Duarte / MSF / OPWAY / Banco Espírito Santo / Banco
BPI / Banco Invest.
Major Portuguese, Spanish and French construction companies are interested in the Project
37
Funding
the Project
38
Lisboa–Porto and Lisboa–Madrid axis Funding
 As with other railway projects operating cash flow is not sufficient to cover the amount
of investment
 Public support is required
 According to RAVE’s calculations the required State support as percentage of investment
would be around 36%. The EU funds would be around 19% of the total investment
taking in consideration both Lisboa-Madrid and Lisboa-Porto HSL
Operating Cash Flow
36%
EU Grants
State Support
19%
45%
39
EU Funding
Cohesion Fund
Priority Links 2007-2013
TEN-T
QREN 2007-2013
Funding awarded
Cohesion Fund
(million euros)
HS network
955
Conventional network
150
Total
TEN-T 2007-2013
1.105
Funding awarded
Trans-European Network - Transports
(million euros)
Third Tagus Crossing
51
Évora-Mérida Chunk
191
Ponte de Lima-Vigo Chunk
140
Total
382
40
Next Steps
41
Next Steps 2009-2010
• Completion of Environmental Impact Assessment Procedures
for Lisboa-Porto and Porto-Vigo Axis
• Tender Process for:
1. HSR Infrastructure: (2009/2010)
• PPP Braga-Valença
• PPP Pombal-Porto
• PPP Lisboa-Pombal
2. Signalling & Telecoms (July/2009)
3. Rolling Stock
42
Project Overview
Business
and Procurement
Presentation
Thanks
for yourModel
attention
13th Informal PPP Exchange
6th JulyRAVE
2007
For further informationLisbon,
please contact
at:
+351 211 064 000
[email protected]