2011年-世界发展银行全球_Private_Activity_in_Latin_America_Declined_Sharply_But_Became_More_Dispersed_in_2010_6页_663kb

Summary of Private Activity in Latin America in 2010

Core Content

In 2010, private participation in infrastructure in Latin America and the Caribbean saw a significant decline in both the number of projects and investment compared to 2009. A total of 54 infrastructure projects with private involvement reached financial or contractual closure, involving US$12.3 billion in investment. This represents a 37% drop in investment and a 24% decline in the number of projects from 2009. The decline was primarily due to a sharp reduction in new projects, especially large ones, which saw a 76% drop in investment.

Despite the overall decline, private activity became more dispersed across the region. Brazil, which had dominated the investment in previous years, saw its share of regional investment drop from 81% in 2009 to 53% in 2010. If Brazil were excluded, regional investment would have increased by 50% in 2010 compared to 2009.

Main Viewpoints

• Overall Decline in Activity: The number of new projects and investment in private infrastructure dropped significantly in 2010.
• Shift in Geographic Distribution: Private activity spread more widely across countries, with 11 countries implementing new projects in 2010, up from 8 in 2009 and 2008.
• Brazil's Role: Brazil was the largest contributor to investment in 2010, but its investment dropped by 59%, leading to a regional decline.
• Stable Investment in Existing Projects: Additional investment in projects implemented between 1990 and 2009 remained stable, indicating a focus on ongoing rather than new infrastructure development.

Key Information

Investment Breakdown by Sector

Project Types

• Greenfield Projects: Accounted for 44% of investment and 28 new projects.
• Concessions: Represented 26% of investment and 18 new projects.
• Divestitures: Accounted for 30% of investment, all related to expansions of companies divested in the 1990–2009 period.
• Management Contracts: Eight new projects in 2010.

Country-Specific Highlights

• Brazil: Accounted for 53% of regional investment, with 18 new projects. Most investment was in greenfield projects, including transmission lines and renewable energy plants.
• Mexico: Implemented 3 new greenfield projects and saw a 7% increase in investment in existing projects.
• Colombia: Led transport investment with 4 projects, including two major concessions.
• Chile: Implemented 3 road concessions and one airport concession.
• Nicaragua: Closed financing on 2 greenfield projects.
• Peru: Implemented 3 greenfield projects, including a water transfer project.
• Argentina: Signed 8 new management contracts for national road corridors.
• Guatemala, Honduras, Jamaica, and Panama: Each implemented one greenfield power plant.

Sector-Specific Highlights

• Energy: 24 projects in 10 countries, US$10.4 billion in investment. The decline was largely due to the absence of large hydroelectric projects from 2009.
• Electricity Generation: Dominated energy investment, with 18 projects totaling US$3.5 billion.
• Electricity Transmission: 4 projects in Brazil totaling US$1.5 billion.
• Transport: 23 projects across 6 countries, US$5.9 billion in investment, with a 53% drop from 2009.
• Water and Sewerage: 7 projects in 3 countries, US$1.1 billion in investment, with a single project in Mexico driving the growth.

Conclusion

The year 2010 marked a notable decline in private infrastructure activity in Latin America, with Brazil being the primary contributor to the drop. However, the activity became more geographically dispersed, involving more countries than in previous years. While energy remained the largest sector in terms of investment, transport and telecom also saw significant activity, albeit with varying levels of decline. The focus on existing projects and the shift in investment patterns reflect broader economic and policy changes in the region.