© JSC «High-Speed Rail Lines» Moscow – Saint-Petersburg high-speed rail project (HSR 1) Alex...
-
Upload
devyn-roderick -
Category
Documents
-
view
238 -
download
0
Transcript of © JSC «High-Speed Rail Lines» Moscow – Saint-Petersburg high-speed rail project (HSR 1) Alex...
© JSC «High-Speed Rail Lines»
Moscow – Saint-Petersburg high-speed rail project (HSR 1)
Alex TourskiDeputy director
© JSC «High-Speed Rail Lines»
Brief description of the HSR 1 project
Main characteristics of the project:
Length – 660 km Travel time – 2 hr 30 min Maximum speed up to 400 km per hour Forecast traffic level – 42 pairs of trains per day Forecast traffic – 14 ml people per year
Structures – 256 per 72 km
Gauge – 1 520 mm
Procurement basis – PPP (LCC)
CapEx (estimation) – 20 bn Euro
Saint-Petersburg
Leningrad region
Novgorod region
Tverregion
Moscow
Moscow region
HSR 1
Oktyabrskaya line
Tver
Sheremetyevo
Valday
Novgorod
Pulkovo
History of HSR 1 project
HSR 1
Saint-Petersburg
Oktyabrskaya line
Upgrade of the existing line
JSC VSM
Launch of SAPSAN trains (200 km/h)
JSC “High-Speed Rail Lines” (PPP/LCC strategy)
JSC “High-Speed Rail Lines”
Solution: to build separate dedicated line
1990s 2000s 2009
Moscow
Solution: to accelerate the existing line
Why PPP/LCC in Russia?Standard model PPP/LCC model
Russians have no HSR experience
Russian Railways is at huge tech risk
Private side takes technological risks.
RR does not have to keep tech staff
Corruption High Low
Investments 100% from Gov Expected 50/50 ratio.
Private money are “smart” money
Motivation to quality Low High
Standards Russian European
Drivers to innovate NONE HIGH
Costs control Unpredicted Expected up to 50%
© JSC «High-Speed Rail Lines»
"Typical" scheme: step-by-step implementation of the project
State Customer
DesignAcceptance of the
Project
ObjectAcceptance of the Object
Acceptance of Maintenance
Maintenance
Request
Designer
DesignConstructor
Object Maintenance Organization
The designer is not motivated to create the feasible Project
The main problems in phases:
Customer takes the risk of approving/accepting the Design
In case of problems the Constructor would refer to the poor quality of the PDS
Customer takes the risk of approving/accepting the Object
In case of problems the maintaining organization would accuse constructor and
designer
The main problem: "responsibility gap"
© JSC «High-Speed Rail Lines»
Life-Cycle Contract:"No service - no payment"
Contract:•Term: 30 years (the life cycle of the object)
•SPV builds the road, bringing their funds itself
•JSC “RZD” starts an annual payments after the launch of the road
•The amount of the annual payment is fixed, with changes subject to simple functional requirements:•Time on the trip •Capacity•Safety/Accidents
Russian Railways
Purchasing Service
Special Purpose Vehicle(SPV)
Design
Construction
Maintenance
Finance
© JSC «High-Speed Rail Lines»
Advantages of Life-Cycle Contract • LCC is developed worldwide over last 15 years• Transfer of technological and planning risks from
Government to the Contractor• Natural incentive for Contractor to build in time with good
quality• LCC encourages innovation• Private capital attracted• Eases the pressure on the budget • NB! For the first time the state moves from a cost-
based economy to purchasing services
•Spain•UK
•Finland
•Netherlands
•Taiwan
•Portugal
• Germany • France
Development of procurement contracts
Terminology:
LCC (life cycle contract)
is the same as
DBFM (design-build-finance-maintain)
and almost the same as
PFI (Private finance initiative)
“Old type” (Design-bid-Build) PPP: Concessions
PPP: Life-cycle Contract/DBFM
24.12.09 the minister of transport confirmed that new program on railway development will be based on PPP
© JSC «High-Speed Rail Lines»
Will Russia benefit from HSR 1?
•Budget efficiency: RI = 1.97
•Cost effectiveness: Et =0.055%
•Aggregate discounted social benefit: 1.5 billion
FYI: After 30 years of HSR operation in France the socio-economic benefit was four times greater than the cost.
Billions of roubles
State expenditure Budget flows
Longer-term budget benefit (after 2050)
External project budget elements
Internal project budget elements
State compensation in line with LCC
Capital grant
•Mobility of population•Regional development•New investments attraction•New jobs•National prestige
© JSC «High-Speed Rail Lines»
HSR / PPP feasibility factors
• Real market need
• Government’s full support
• Legal framework for PPP– The concession law exists, but DBFM implementation
requires further improvements
• Possibility of long-term availability payments
• Usage of international experience
© JSC «High-Speed Rail Lines»
Scope of Moscow-St.Petersburg HSR projects
stations
HSR 1: LCC
Transport hub in Moscow
Transport hub in St Petersburg
Hubs development: Concessions
stations
stations
Main stages of the project
•Preparation of the HSR1 business case
Stage 1
International conference on HSR 1 in Moscow
•Short listing•Tender process
Stage 2
TenderSelection of contractor
30 years
2010 2011 2012
Engineering survey
Land acquisition
A large-scale project for the harmonization of European and Russian standards
•Securing financing of the project
Stage 3
Financial close
© JSC «High-Speed Rail Lines»
Rolling stock?
SPV(Infrastructure
provider)
JSC «RZD»
LCC payments
SPV business: HSR 1 line
Contract: DBFM
Motivation:Payment for quality
RZD/Business operatorTimetabling and ticket sales
Contract:Concession/ Service contract
Motivation: Maximum profits
Operator (timetable,
tickets)
Concession payments
HSR 1 PPP Scheme
State
Compensatory subsidies
(+ long-term guaranties) and grants
© JSC «High-Speed Rail Lines»
HSR: a complex mix of components with various life cycles
15-20 years >100 years30-40 years
Contractor’s full responsibility for all technical solutions
Contractor and State Client’s joint responsibility
for technical solutions
Signaling
Track superstructure
Track substructure
Division of contracts in the Netherlands (2001):
LCC(Design + Build + Maintain + Finance)
DB (design + build)
Division of contracts in Portugal (2009) and France (2010):
LCC (20 yrs)
LCC (40 yrs)
© JSC «High-Speed Rail Lines»
Distribution of risks
SPV(Infrastructure
provider)State
Operator (timetable, tickets)
Construction risksDesign risks
Maintenance risks
Environmental risks
Safety and security risks
Tech Interface implementation
risks
Regulation and policy risks
Demand risk
Operation and service risks
Political risks
Public acceptance risk
Network interface risk
Inflation and macro risks
Financing risksLand and right of
way risks
Life-cycle costs risk
Tech Interface definition risks
© JSC «High-Speed Rail Lines»
• Open tender and transparency in order to attract private money and competition
• Feedback and suggestions from potential bidders are welcome at early stages but dialogue will be open
• No sensitive project data will be available until official release on HSR 1 conference in Moscow
• Decisions on key aspects of the Project will be market tested with industrial experts and potential bidders
• International best practice on PPP and HSR will be used as a permanent guidance.
Market dialogue principles
© JSC «High-Speed Rail Lines»
Leveraging on the international public knowledge in HSR/PPP
Great Britain
(Partnerships UK)
1990 1995 2000 2005 2010
Netherlands
Amsterdam-Brussels
France
(3 LCC projects)
Portugal
HSR Lisbon - Madrid
© JSC «High-Speed Rail Lines»
There are 2 ways to describe products
Pole should reflect light with certain efficiency; be safe on impact ; ecologically safe and so on…
Material – PVC; height – 1 meter; round in section; reflector – specified size, shape and
material; installation – 75 cm above surface and 60 cm deep into the ground …..
Product specification
Functional requirements
(performance based)
© JSC «High-Speed Rail Lines»
Conformity test methods
Standard
Applying rules
Functional requirements
Standard
Functional requirements
Product Specifications
Conformity test methods
2 different models
© JSC «High-Speed Rail Lines»
Railroad standards
NO HSR standards
Civil construction standards
Railroad standards
HSR standards
Civil construction standards ?
HSR 1 costs: €20 bln. Expected 10% cost cut => €2 bln
HSR 1: Which standards to chose?
Future development of HSR lines
Tumen
HSR 1
HSR 2
Moscow
Saint-Petersburg
Chelyabinsk
Nizniy TagilPerm
Ufa
Kazan
Nizniy Novgorod
Yekaterinburg
© JSC «High-Speed Rail Lines»
Alex TourskiDeputy Director
JSC "High-Speed Rail Lines"
Tel: +7 495 660 7870Cell (RU): +7 985 784 5694Cell (NL): +31 64 538 8324Fax: +7 495 660 78 71E-mail: [email protected]
Thank You for Your attention!