Short-term Road Concessions: Application to New Toll Motorways in Spain
J M Vassallo, D Maté, Universidad Politécnica de Madrid, ES
This paper aims to introduce a new tool based on short-term road concession procurement methods that include a final reversion value. The main advantages to be obtained from this new method are that itoffers both the bidders and the Administration the possibility to get a close forecast on key concession variables such as expected demand, costs, etc. as well as on the potential increase in competition all over the process. In addition, this paper looks into the risks associated with the implementation of the method. The paper also includes some solutions to mitigate the risks with short-term concession procurements. Once the method has been outlined, this paper proceeds to analyse the prospective advantages and disadvantages related to its application. Finally, we provide a brief outlook into the New Access to the Madrid Barajas Airport concession contract as it has been developed following some of the procedures revised in this paper.
Association for European Transport