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Why a Public-Private Partnership (PPP) Agreement?
Public-Private Partnership (PPP) Agreements are usually medium to long-term arrangements whereby some of the service obligations of the public sector are provided by the private sector, with clear agreement on shared objectives for delivery of public infrastructure and/or public services.
The Government of Saint Lucia and SLASPA plans to select a private concessionaire to manage and operate HIA under a PPP Agreement. This would allow for the following:
- SLASPA retains asset ownership and regulatory control;
- The private concessionaire will be responsible for financing, construction and operation/maintenance of HIA;
- Operations and maintenance risks will be transferred to the concessionaire during the concession period;
- SLASPA will be remunerated through a revenue share or in the from of annual concession fees (% of gross revenues) and corporate taxes over the life of the concession;
- The concessionaire’s performance will be managed through a concession contract with clearly defines performance standards and penalties for non-performance.