Public private partnerships in Spanish ports: Current status and future prospects

Abstract

Public-Private Partnerships (PPPs) have proved to be more than adequate as a means to develop transport infrastructure, especially in the case of large-scale infrastructure such as ports. However, under certain specific circumstances they can lead to certain failures, and so huge public losses. Both the country's hard-hit economy and its vast experience in PPP investments make Spain an ideal case to analyse the successes and failures of these types of contracts, at a time of severe public investment constraints and need for real efficient execution of projects. This paper aims to provide an up-to-date review of PPP experiences in Spanish ports under a legislative framework which fosters public-private cooperation. More explicit and exhaustive contract terms, proper risk assignment, a higher control over demand forecast in port projects, and certain competition concerns are identified as the main requirements for future policy actions. (C) 2014 Elsevier Ltd. All rights reserved.