Abstract
A critical contributor to the success of a public/private partnered (PPP) infrastructure project is the selection of the right private-sector partner, the concessionaire, who would provide the best overall deal throughout the build-operate-transfer (BOT)[build/operate/transfer] development process. This paper proposes a core concessionaire selection protocol that incorporates public procurement principles, best-value selection approach, competitive selection process, and multicriteria tender evaluation. Key pointers for an improved concessionaire selection protocol are discussed and analyzed by drawing experience and learning lessons from worldwide PPP practices. These include improved project brief and tender documents, formulation of a best-value selection methodology, determination of suitable criteria and methods for prequalification and tender evaluation, capital structure (equity-to-debt ratio), financial models, and potential improvements in different stages of the concessionaire selection process. Relevant results of a questionnaire survey of international PPP expert opinions on an enhanced concessionaire selection protocol are also presented.
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