Abstract: As experience from numerous countries around the world grows, there is increasing evidence that new toll road programs will require greater equity and government support to attract required financing. Slowly more and more lawyers and bankers who specialize in private financing of highway projects are concluding that toll roads must be financed with some kind of partnership between public and private sectors. Numerous examples are given of privately funded projects and the lessons to be learned. One of the biggest problems hindering road financing is the uncertainty of traffic and revenue forecasting. What is needed are more extensive studies into travel patterns, driver/operator characteristics and willingness to pay but all too often neither time nor resources are available for the necessary surveys. The discouragement of the private sector is increasing while many governments still seek to shift the burden of road building from the public sector.
Publication Year: 1996
Publication Date: 1996-10-01
Language: en
Type: article
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