World Bank Document

Total Page:16

File Type:pdf, Size:1020Kb

World Bank Document Document of The World Bank FOR OFFICIAL USE ONLY Public Disclosure Authorized Report No: 50467-AR PROJECT APPRAISAL DOCUMENT ON A Public Disclosure Authorized PROPOSED LOAN IN THE AMOUNT OF US$150 MILLION TO THE ARGENTINE REPUBLIC FOR A Public Disclosure Authorized METROPOLITAN AREAS URBAN TRANSPORT PROJECT (PTUMA) IN SUPPORT OF THE FIRST PHASE OF A METROPOLITAN AREAS URBAN TRANSPORT PROGRAM September 18, 2009 Sustainable Development Department Argentina, Chile Paraguay, Uruguay Country Management Unit Latin America and the Caribbean Region Public Disclosure Authorized This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization. CURRENCY EQUIVALENTS (Exchange Rate Effective September 10th, 2009) Currency Unit = AR Peso AR$1.00 = US$0.26 US$1.00 = AR$ 3.84 FISCAL YEAR January 1 – December 31 ABBREVIATIONS AND ACRONYMS AADT Annual Average Daily Traffic AFP Public auto- transport for passengers AGN Argentine Supreme Auditing Institution (Auditoría General de la Nación) AMBA Buenos Aires Metropolitan Area (Area Metropolitana de Buenos Aires) APL Adaptable Program Loan BNA Banco de la Nacion Argentina BRT Bus Rapid Transit CAS Country Assistance Strategy CAP Community Health Centers CCP Compensaciones Complementarias Provinciales CDCT Coeficiente de Distribución de Compensaciones Tarifarias CFAA Country Financial Accountablility Assessment CNG Compressed Natural Gas CNRT National Transport Regulatory Commission CMU Country Management Unit CPS Country Partnership Strategy CQS Selection Based on Consultants Qualifications CREMA Performance-based Rehabilitation and Maintenance Contracts (Contrato de Rehabilitación y Mantenimiento por Resultados) DA Designated Account DNV National Directorate of Highways (Dirección Nacional de Vialidad) DPV Provincial Road Agency (Dirección Provincial de Vialidad) EA Environmental Assesssment EIA Environmental Impact Assessment ESMP Environmental and Social Management Plan ESMM Environmental and Social Management Manual ERR Economic Rate of Return FAP Fiduciary Action Plan FM Financial Management FRL Federal Fiscal Responsibility Law (Régimen Federal de Responsabilidad Fiscal) GDP Gross Domestic Product GGP Gross Geographic Product GMMA Greater Mendoza Metropolitan Area FOR OFFICIAL USE ONLY GoA Government of Argentina GoP Government of the Province HDM Highway Design and Maintenance Standards Model IBRD International Bank for Reconstruction and Development IAUs Internal Audit Units IFPA Interim Financial Performance Assessment IIRSA Initiative for the Integration of Regional Infrastructure in South America INDEC National Institute of Social and Population Statistics (Instituto Nacional de Estadísticas y Censos) IPSAS International Public Sector Accounting Standards IRI International Roughness Index IFR Interim Financial Report IPR Intellectual Property Rights IUFR Interim Unaudited Financial Report LA Loan Agreement LCS Least Cost Based Selection M&E Monitoring and Evaluation MIS Management Information System MoUs Memorandums of Understanding MRBA Metropolitan Region of Buenos Aires MRM Modified Rational Method MTA Metropolitan Transport Agency for Buenos Aires NFPS Non financial Provincial Public Sector NGO Non-governmental Organizations NPA National Public Administration NPV Net Present Value OCCOVI Concessioned Roads Regulatory Agency (Organo de Control de Concesiones Viales) OM Operational Manual PCA Portland Cement Association PCN Project Concept Note PIU Project Implementation Unit (Unidad de Ejecución del Proyecto) PFM Public Financial Management PFO Fiscal Financing Programs (Programa de Financiamiento Ordenado) PLATAMBA Buenos Aires Transport Planning Team of the National Government Secretariat of Transport PRP Provincial Road Infrastructure Project PTUBA Buenos Aires Urban Transport Project (Proyecto de Transporte Urbano de Buenos Aires) PTUBA-AF Buenos Aires Urban Transport Project Additional Financing PTUMA Metropolitan Areas Urban Transport Project (Proyecto de Transporte Urbano de Areas Metropolitanas) QBS Quality Based Selection QCBS Quality and Cost Based Selection RAP Resettlement Action Plan RCC Complementary Compensation Scheme (Regimen de Compensaciones Complementarias) REFOP Road Transport Professional Development System ( Sistema de Fomento de la This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not be otherwise disclosed without World Bank authorization. Profesionalización del Transporte Automotor) RPF Resettlement Policy Framework SEA Strategic Environmental Assessment SBD Standard Bidding Document SEPA Procurement Plan Execution System (Sistema de Ejecución de Planes de Adquisición) SIDIF National Integrated Financial Management System SIGEN General Syndicate of the Nation SIL Specific Investment Loan SIPAF Provincial Integrated Financial Management System SISTAU Integrated Motorized Transport System (Sistema Integrado de Transporte Automotor) SISVIAL Sistema Integrado Vial SISCOTA Sistema Integrado de Compensaciones Automotor SIT Fund Fondo Fiduciario para el Sistema de Infraestructura de Transporte SITRANS Sistema Integrado de Transporte Terrestre SPIFE Undersecretary of Investment Projects and External Financing SOEs Statement of Expenses SOT Secretariat of Transport SSS Single-source based selection SUBE Sistema Unico de Boleto Electronico TIS Transport Integrated System TORs Terms of Reference Vice President: Pamela Cox Country Manager/Director: Pedro Alba Sector Director: Laura Tuck Sector Manager: Aurelio Menendez Sector Leader: Franz Drees-Gross Task Team Leader: Andres G. Pizarro METROPOLITAN AREAS URBAN TRANSPORT PROJECT CONTENTS Page I. STRATEGIC CONTEXT AND RATIONALE ......................................................... 1 A. Country and Sector Issues ............................................................................................. 1 B. Rationale for Bank Involvement .................................................................................... 6 C. Higher Level Objectives to which the Project Contributes ........................................... 7 II. PROJECT DESCRIPTION ......................................................................................... 7 A. Lending Instrument ........................................................................................................ 7 B. Program Objective and Phases....................................................................................... 8 C. Project Development Objective and Key Indicators .................................................... 10 D. Project Components ..................................................................................................... 11 E. Lessons Learned and Reflected in the Project Design ................................................. 16 F. Alternatives Considered and Reasons for Rejection .................................................... 18 III. IMPLEMENTATION ................................................................................................ 19 A. Partnership Arrangements (if applicable) .................................................................... 19 B. Institutional and Implementation Arrangements ......................................................... 19 C. Monitoring and Evaluation of Outcomes/Results ........................................................ 20 D. Sustainability ............................................................................................................... 20 E. Critical Risks and Possible Controversial Aspects ...................................................... 21 F. Loan /Credit Conditions and Covenants ..................................................................... 24 IV. APPRAISAL SUMMARY ......................................................................................... 25 A. Economic and Financial Analyses ............................................................................... 25 B. Technical ...................................................................................................................... 26 C. Fiduciary ...................................................................................................................... 27 D. Social ........................................................................................................................... 28 E. Environment ................................................................................................................. 28 F. Safeguard Policies ........................................................................................................ 29 G. Policy Exceptions and Readiness ................................................................................ 31 i Annex 1. Country and Sector or Program Background ................................................. 32 Annex 2. Major Related Projects Financed by the Bank and/or Other Agencies ........ 61 Annex 3: Results Framework and Monitoring ................................................................ 63 Annex 4: Detailed Project Description ............................................................................. 69 Annex 5: Project Costs ....................................................................................................... 78 Annex 6: Implementation Arrangements ......................................................................... 82 Annex
Recommended publications
  • Africa 2016 Latin America 2016 Latin America 2015-2016
    In 2016 a large catch-up* in infrastructure investments is being confirmed by several Latin American countries, driven by the knowledge that economic growth relies heavily on quality infrastructure. The transport sector is going to firmly benefit from the expected increase in public and private funds. The continent being one of the most urbanized regions in the world, a large focus goes into urban rail projects: Mexico, Guatemala, Paraguay, Colombia, Chile, Brazil… are planning new projects for metro, light rail, high speed rail, monorail and passenger trains. One country is clearly taking the lead: Argentina. Besides boosting its investment climate and PPP laws, Argentina made public the ambitious 8-year 14.187 m USD investment in Buenos Aires` commuter network. Related key projects are the city`s RER and tunneling of the Sarmiento line. The Latin America Passenger Rail Expansion Summit will bring together local and international stakeholders, government officials, operators, developers, architects, consultants and equipment plus solution providers to discuss the current rail sector. *300.000 m USD is what Latam should be investing annually, versus the 150.000 m USD spent annually on infrastructure in the previous 20 years. http://latinamerica.railexpansionsummit.com OUTLOOK SOME OF THE TO BE INVITED DELEGATES Argentina foresees 14187 m USD ANPTrilhos INCOFER, Costa Rica Ministerio de Transporte y Comunicaciones, Peru 14187 investment in AFE Uruguay VLT Carioca Consortium Directorio de Transporte Público Metropolitano, Chile suburban network. FEPASA Paraguay Metro de Santiago, Chile Subterráneos de Buenos Aires SE (SBASE) CPTM São Paulo ANTT Brazil Gobierno Autónomo Municipal Santa Cruz Bolivia STM São Paulo ProInversión Peru Transporte Metropolitano de Barcelona New Rolling stock wagons in use in Metro Rio Metro DF Brazil Ministerio de Transporte Argentina 735-> Buenos Aires.
    [Show full text]
  • Master Document Template
    Copyright by Katherine Schlosser Bersch 2015 The Dissertation Committee for Katherine Schlosser Bersch Certifies that this is the approved version of the following dissertation: When Democracies Deliver Governance Reform in Argentina and Brazil Committee: Wendy Hunter, Co-Supervisor Kurt Weyland, Co-Supervisor Daniel Brinks Bryan Jones Jennifer Bussell When Democracies Deliver Governance Reform in Argentina and Brazil by Katherine Schlosser Bersch, B.A. Dissertation Presented to the Faculty of the Graduate School of The University of Texas at Austin in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy The University of Texas at Austin August 2015 Acknowledgements Many individuals and institutions contributed to this project. I am most grateful for the advice and dedication of Wendy Hunter and Kurt Weyland, my dissertation co- supervisors. I would also like to thank my committee members: Daniel Brinks, Bryan Jones, and Jennifer Bussell. I am particularly indebted to numerous individuals in Brazil and Argentina, especially all of those I interviewed. The technocrats, government officials, politicians, auditors, entrepreneurs, lobbyists, journalists, scholars, practitioners, and experts who gave their time and expertise to this project are too many to name. I am especially grateful to Felix Lopez, Sérgio Praça (in Brazil), and Natalia Volosin (in Argentina) for their generous help and advice. Several organizations provided financial resources and deserve special mention. Pre-dissertation research trips to Argentina and Brazil were supported by a Lozano Long Summer Research Grant and a Tinker Summer Field Research Grant from the University of Texas at Austin. A Boren Fellowship from the National Security Education Program funded my research in Brazil and a grant from the University of Texas Graduate School provided funding for research in Argentina.
    [Show full text]
  • The Connection Between the Depopulation of Localities and Passenger Rail Services in the Province of Buenos Aires in Argentina Between 1960 and 2009
    Social Sciences 2013; 2(4): 154-160 Published online August 30, 2013 (http://www.sciencepublishinggroup.com/j/ss) doi: 10.11648/j.ss.20130204.12 The connection between the depopulation of localities and passenger rail services in the Province of Buenos Aires in Argentina between 1960 and 2009 Juan Manuel Diez-Tetamanti 1, Melisa Pontrelli-Albisetti 2 1National Council of Researching and Technology, Argentina.Profesor National University of Patagonia San Juan Bosco, Argentina 2National Council of Researching and Technology, Argentina Centre of Geo and SocioEnvironmental Researching; National University of Mar del Plata Email address: [email protected], [email protected] (J. M. Diez-Tetamanti), [email protected](M. Pontrelli-Albisetti) To cite this article: Juan Manuel Diez-Tetamanti, Melisa Pontrelli-Albisetti. The Connection between the Depopulation of Localities and Passenger Rail Services in the Province of Buenos Aires in Argentina between 1960 and 2009. Social Sciences. Vol. 2, No. 4, 2013, pp. 154-160. doi: 10.11648/j.ss.20130204.12 Abstract: Between 1960 and 2001 there were two processes that drew the interest of some social researchers in Argentina. On the one hand there was a process of rural depopulation from localities in the province of Buenos Aires (similar to the process of urbanization across Latin America). On the other hand, there was the break up of the railways that led to the cessation of passenger services to hundreds of localities inside the province of Buenos Aires. This study compares the two variables -localities in the interior of the province of Buenos Aires that lost population and railway lines which recorded decrease in the provision of passenger transport services.
    [Show full text]
  • “Access to Land”: the State and the Evolution of Landholding Patterns in the U.S
    Rev4-01 22/11/01 12:27 Página 11 Peter Fleer and Hans Werner Tobler* ➲ “Access to Land”: The State and the evolution of landholding patterns in the U.S. and Argentina in the 19th century Introduction When we consider the development of the United States and Latin America during the “long” 19th century in a comparative perspective, certain fundamental differences and contrasts stand out regarding the respective political, social and economic condi- tions. There is a progressive democratization of the political system in the North as oppo- sed to lasting oligarchic rule in the South; greater social mobility in the U.S. in contrast to rigid social structures in Latin America; and dynamic economic growth and differen- tiation in the North as compared to initial stagnation and subsequent one-sided export- orientation of the economies of the South. Even though this very general assessment would certainly need to be further elaborated regarding regional and sectoral differences, it nevertheless emphasizes some essential characteristics of the different developments north and south of the Rio Grande, which also depended to a considerable extent on the different landholding conditions in both regions. Certainly, after the decline of the tradi- tional southern plantation economy in the U.S. in the wake of the Civil War of 1861- 1865, landownership patterns differed greatly in the North and the South. While in the U.S. small and middle-sized family farms shaped the countryside, in Latin America the agrarian sector was dominated far into the 20th century by large landholdings, with their concomitant features of multiple labor, tenancy and sharecropping conditions.
    [Show full text]
  • Transportation Infrastructure Opportunities for US Business
    Argentina: Transportation Infrastructure Opportunities for U.S. Business 1 Our Presenters Chargé d’Affaires Tom Minister of Transportation CEO Alejandro Diaz Cooney Guillermo Dietrich American Chamber of U.S. Embassy Buenos Government of Argentina Commerce in Argentina Aires Status of the National Transport Plan and its impact on the development of the country ROADS FREIGHT RAILWAYS CHALLENGES ACROSS THE TRANSPORT SECTOR • 40% of the network in poor conditions • 5% the total freight • 95% of freight transported by truck. • Average speed: 14km/hour PORTS AND WATERWAYS AIR SECTOR URBAN MOBILITY • Limitations on infrastructure don’t • Low domestic connectivity. • 15M users in MRBA. • Half the number of pax/capita than allow the operation of large ships. • Absence of public transport in the in the rest of the region. • Lack of access infrastructure. provinces • Space for improvements in security • Loss of competitiveness. and air traffic control. • Low quality infrastructure. VISION Carrying out the most ambitious Transport Plan in the history of the country, with a federal vision; integrated and intermodal transport that provides conditions of excellence for the mobility of people and goods; reduces transportation times, costs and negative externalities; and fundamentally maximizes safety, comfort and sustainability. STRATEGIC GOALS INFRAESTRUCTURE Transforming, developing and modernizing the infraestructure for transport in the country, through a federal strategy, improving the connectivity and productivity of the regional economies, especially the ones that have been most left behind. PRIORIZATION Managing in an efficient and sustainable way the different modes of transport, to contribute to the economic growth and to reduce the logistic costs, defending the interests of users.
    [Show full text]
  • Olympic Champion Rio’S New Light Railway Set to Expand
    Dec Cover:Layout 1 21/11/2016 14:10 Page 1 December 2016 I Volume 56 Issue 12 www.railjournal.com | @railjournal IRJInternational Railway Journal Points of the future Open for competition New-generation of turnouts NTV and the benefits of open- reduces maintenance costs access high-speed in Italy Olympic champion Rio’s new light railway set to expand Dec Cover:Layout 1 21/11/2016 14:10 Page 1 December 2016 I Volume 56 Issue 12 www.railjournal.com | @railjournal IRJInternational Railway Journal Points of the future Open for competition New-generation of turnouts NTV and the benefits of open- reduces maintenance costs access high-speed in Italy Olympic champion Rio’s new light railway set to expand IRJDECXX (Schaeffler1):Layout 1 16/11/2016 09:05 Page 1 Mobility for Tomorrow In an increasingly dynamic world, bearings and system solutions from Schaeffler not only help railways prepare for the challenges of the future, but also improve their safety. • Thanks to the cost-efficiency of our application solutions, you can make lasting savings in terms of your overall costs. • We constantly test the reliability of our components in our inde- pendent Schaeffler Railway Testing Facility for rolling bearings. • We manage the entire lifecycle of our products, right up to railway bearing reconditioning with certification. We have been a development partner for the sector for more than 100 years. Use our engineering expertise! Dec Contents:Layout 1 21/11/2016 17:01 Page 3 Contents Contact us December 2016 Volume 56 issue 12 Editorial offices News Post
    [Show full text]
  • Guia Ingles Ultima
    Buenos Aires Argentina BUENOS AIRES GUIDE IN ENGLISH GOVERNMENT OF THE CITY OF BUENOS AIRES 1 THE CITY | pág.3 2 USEFUL TELEPHONES AND ADDRESS | pág.5 3 CIRCUITS | pág.9 4 SERVICES | pág.11 5 ACTIVITIES | pág.15 UNDER SECRETARIAT OF TOURISM 2 GOVERNMENT OF THE CITY OF BUENOS AIRES 1 THE CITY LOCATION PORTEÑOS BUENOS AIRES Buenos Aires has always been an open-door city. Its Capital of the Argentine Republic is located on the River inhabitants are called porteños, which makes reference Plate coast to the fact that the city is a port. The inhabitant of the province of Buenos Aires is called bonaerense. The Río de la Plata and the Riachuelo are the natural borders of the city on the east and south, respectively. The rest of the metropolitan perimeter is surrounded by LANGUAGE the General Paz Avenue from north to west. This avenue provides a fast connection between the city and the The official language is Spanish. Something to note is Greater Buenos Aires, a densely populated area with the use of vos (you) instead of the Spanish tú for important business and industrial activity. informal treatment, and the use of che to address a person. Most people involved in tourist activities speak English. WEATHER The climate of Buenos Aires is mild all year round. The mean annual temperature is 18º C (64.4º F), making G GLOSSARY extremely hot and cold days very infrequent. Thus, visitors can enjoy walking around the city in any season. Che July is the coldest month. Although frosts are rare, a This is an informal expression used woollen coat, a jacket or an overcoat.
    [Show full text]
  • Reshaping Argentina's Railways Jorge H
    Reshaping Argentina's Railways Jorge H. Kogan & Louis S. Thompson 1. Background FA (freight, intercity passenger, and stopped, it would have been very diffi- the Buenos Aires City commuter pas- cult to resist the consequent political In early 1989, the Argentine economy senger services). pressure to restore them, or to expect was experiencing hyperinflation and Other symptoms were rolling stock any cooperation from union leaders. virtual fiscal collapse. In August 1989 (unreliable locomotives, and half out Action was imperative. after the change of Government, the Ar- of service), bad track (55% of the track gentine Congress passed the State Re- in less than acceptable condition), and Framework for change form and Public Enterprises Restruc- a high rate (30% to 50%) of fare eva- The comprehensive strategy was turing Law. The law's aim was to re- sion in the Buenos Aires commuter rooted in several principles: (1) The duce the deficit and revitalize the services. Government could no longer fund the economy by encouraging private sector The inevitable result was a chronic fi- huge deficit; (2) FA was unsalvageable operation of major state-owned enter- nancial disaster (US$2 million losses as an enterprise; (3) At least some rail prises. For railways, the largest state daily), combined with increasing freight transport was viable; (4) The enterprise contributing to the deficit, unreliability and unsafe conditions. commuter services in the Buenos private participation was to be imple- There was no further hope for a com- Aires Metropolitan
    [Show full text]
  • Supply of ATS System to the Suburban Railway Network of Buenos Aires, Argentina
    May 22, 2017 Marubeni Corporation Supply of ATS System to the Suburban Railway Network of Buenos Aires, Argentina Japan Bank for International Cooperation (“JBIC”) and Argentinian Government have signed a Loan Agreement on May 19, 2017 to provide a financial loan for a contract between Marubeni Corporation (“Marubeni”) and Argentinian Railway (Administración de Infraestructuras Ferroviarias S. E., “ADIF”) to supply an ATS (Automatic Train Stop) system to the suburban railway network of Buenos Aires. Marubeni will supply the ATS system manufactured by Nippon Signal Co., Ltd. (“Nippon Signal”) for the 280 trains of the suburban lines. Since President Macri took office in December 2015, a large-scale infrastructure plan has been developed and the Government is actively inviting foreign investment in the country. Thus in 2016 during the summit meeting between Prime Minister Abe and President Marci of Argentina one of the topics discussed was the promotion of Japanese technology export with the support of JBIC and Nippon Export and Investment Insurance (”NEXI”). The contract between Marubeni and ADIF is a real example of such efforts of the two Governments, where JBIC is co-financing the project with Deutsche Bank AG, Tokyo Branch (“Deutsche Bank”), and NEXI is providing insurance for the loan. Marubeni in its turn has a track record of supplying ATS systems in 1981 and 2015, both times for the Roca Line which has the largest volume of passengers per year. These have contributed to the safe operation of the railway for more than 30 years. In the near future, with the new ATS system installed across the whole suburban network, the safety and the accuracy of railway operations will be substantially improved.
    [Show full text]
  • British Capitals and Agrarian Production in Border Areas. Bahía Blanca, Argentina (1860-1900)
    e-ISSN 2395-9134 Estudios Fronterizos, vol. 20, 2019, e033 https://doi.org/10.21670/ref.1912033 Articles British capitals and agrarian production in border areas. Bahía Blanca, Argentina (1860-1900) Capitales británicos y producción agraria en espacios de frontera. Bahía Blanca, Argentina (1860-1900) Florencia Costantinia* https://orcid.org/0000-0001-8669-6851 a Universidad Nacional del Sur, Centro de Estudios Regionales “Profesor Felix Weinberg”, Departa- mento de Humanidades, Bahía Blanca, Province of Buenos Aires, Argentina, email: flor.costanti- [email protected] Abstract: In order to problematize the modernizing process in the south of Buenos Ai- res, in the following article we inquired about the role of British investments in the rural economy in Bahía Blanca between 1860 and 1900. The metho- dology used is microanalytical and uses tools from the hermeneutical study of documents, reconstruction of personal trajectories and statistical analy- sis. Addressed in its diachronic dimension, we can detect two types of British Received on April 3, 2019. capital presence in the region that follow one another in time and that were Accepted on October 9, 2019. accompanied by particular forms of immigration: the investment of indivi- duals in farms and the presence of free-standing companies. Although diffe- Published on October 25, 2019. rentially, both moments propitiated large-scale agricultural production acce- lerating the shift of the agrarian frontier with effects on the conformation of social groups such as the internal traders of the country’s fruits and cereals. * Corresponding author: Florencia Keywords: British investments, Bahía Blanca, agrarian frontier, business. Costantini, email, flor.costantini@ hotmail.com.ar Resumen: Con el objetivo de problematizar el proceso modernizador del sur bonaerense ar- gentino, el siguiente artículo investiga el rol que tuvieron las inversiones británi- cas en la economía rural en el partido de Bahía Blanca entre 1860 y 1900.
    [Show full text]
  • Best Methods of Railway Restructuring and Privatization
    CFS Discussion Paper Series, Number 111 Best Methods of Railway Restructuring and Privatization Ron Kopicki Louis S. Thompson with Koichiro Fukui Murray King Jorge C. Kohon Jan-Eric Nilsson Brian Wadsworth For additional copies, please contact the CFS Information Office, tel: (202) 473-7594, fax: (202) 477-3045. ii BEST METHODS OF RAILWAY RESTRUCTURING AND PRIVATIZATION TABLE OF CONTENTS LIST OF ABBREVIATIONS X ACKOWLEDGMENTS XII FOREWORD XIII EXECUTIVE SUMMARY 1 1. Introduction 1 2. Case Study Experiences 2 3. Alternative Railway Structures 3 4. Alternative Asset Restructuring Mechanisms 4 5. Design of Intermediate Institutional Mechanisms 5 6. Managing the Railway Restructuring Process 6 CHAPTER ONE: INTRODUCTION 9 1. Scope of the Study 9 2. Importance of Railway Restructuring 10 3. Economic Features of Railways 10 4. “Best Methods” Approach 12 5. Railway Case Studies 13 6. Organization of the Study 17 CHAPTER TWO: STRUCTURAL OPTIONS 19 1. Introduction 19 2. Restructuring a Railway: General Design Considerations 19 3. Asset Restructuring: Structural Forms 21 4. Asset Restructuring: Mechanisms 24 5. Liability Restructuring 29 6. Work Force Restructuring 32 7. Management Restructuring 36 8. Strategic Refocusing 37 9. Best Methods 39 CHAPTER THREE: INTERMEDIATE INSTITUTIONAL MECHANISMS 41 1. Introduction 41 2. The Need for Intermediation 41 3. Relationship between the Intermediary and the Railway 43 4. Essential Functions Performed by Restructuring Intermediaries 44 5. Larger Transport Policy Context and the Need to Rebalance Policy Principles 48 6. Alternative Organizational Forms 49 7. Prerequisites for Effective Intermediation Operations 52 8. Best Methods 52 CHAPTER FOUR: MANAGING THE RESTRUCTURING PROCESS 55 1. Introduction 55 2.
    [Show full text]
  • Infrastructure Opportunities in Argentina
    Infrastructure opportunities in Argentina Infrastructure January 2017 kpmg.com.ar 2 Contents KPMG Global Infrastructure 4 Introduction to Argentina 8 Concession & public works 11 projects summary 3.1. Roads 3.2. Rail 3.3. Ports and airports 3.4. Water supply, drainage system and flood control 3.5. Waste disposal 3.6. Entertainment and other projects 3.7. Energy 3.8. Telecommunications 3.9. Urban and industrial developments 3.10. Other projects Financing market in Argentina 40 Contact 44 1. KPMG Global Infrastructure Infrastructure is one of the great global challenges of the 21th century Drivers Unprecedented global transformation 1950-2050 – Population boom to 9.2bn by 2050 – Rapidly growing wealth of emerging economies driving greater consumption – Rising living standards causing dramatic increase in life expectancy Opportunity At global tipping point – Mature markets suffering decades of underinvestment – Emerging economies looking to shape the future – Translates into $57 trillion+ investment need up to 2050 Challenges – Urbanisation – 3bn people moving into cities by 2050 – Energy – supply, sufficiency and sustainability of energy needs to cope with increased demand from urbanisation – Water – water usage and management, and the energy intensity of our consumption – Public services – how will we finance the cost of more people, living longer and having fewer children, and provide public services society expects KPMG’s Global Infrastructure Team • Infrastructure is one KPMG’s focus areas • We specialise in infrastructure
    [Show full text]