2012年-世界发展银行全球_Report_on_Three_Potential_PPP_Water_Projects_in_the_Ministry_of_Public_Works_-_BPP_SPAM_13页_175kb
报告摘要
Summary of Report on Three Potential PPP Water Projects
Core Content
This report evaluates three potential Public-Private Partnership (PPP) water supply projects in Indonesia, focusing on their feasibility, creditworthiness, and technical aspects. The projects are located in Sepatan, Benda, and Surakarta (Solo), with the third also involving Sukaharjo. The aim is to identify which project is most suitable for further development, particularly in light of recent clarifications on water licenses and the need for secure financial and regulatory frameworks.
Main Projects and Key Information
1. Sepatan (Kabupaten Tangerang)
- Project Type: Greenfield concession
- PDAM: PDAM Tirta Kerta Raharja
- Population Served: 158,000
- New Connections: 31,900
- Total Investment: Rp. 145 billion (≈ $16 million)
- Water Source: Cisadane River (uncertain, no SIPA issued)
- Key Concerns:
- Uncertainty in raw water extraction licenses
- PDAM and local government lack financial capacity
- Land acquisition and rights of way are not clearly addressed
- Local government requires the Concessionaire to connect 32,000 homes by 2010, which is a significant risk
2. Benda (Kota Tangerang)
- Project Type: Combined BOT and concession
- PDAM: PDAM Tirta Banteng
- Population Served: 50,000
- New Connections: 10,600
- Total Investment: Rp. 185 billion (≈ $20.5 million)
- Water Source: Cisadane River (uncertain, no SIPA issued)
- Key Concerns:
- High investment cost relative to new connections
- Tariffs are 40% higher than current rates, potentially leading to public backlash
- Land acquisition and rights of way are not clearly defined
- PDAM operates a competing water supply system in the same region
3. Surakarta and Sukaharjo
- Project Type: BOT bulk water supply
- PDAM: PDAM Solo
- Population Served: 190,000
- New Connections: 38,000
- Total Investment: Rp. 49 billion (≈ $5.4 million)
- Water Source: Bengawan Solo River (SIPA available)
- Key Concerns:
- Sukaharjo's financial condition is precarious, making it difficult to enter into a PPP
- PDAM Solo has a high level of non-revenue water (≈ 30%) and a high debt-to-equity ratio (≈ 2.5)
- There is a need to reduce non-revenue water and improve operational efficiency
- The project involves a take-or-pay contract with PDAM Solo, offering immediate income
Main Objectives
- Identify the most viable project for further analysis
- Update tender documents and prepare a complete Request for Proposal (RFP)
- Ensure the project is bankable by addressing financial, regulatory, and technical constraints
- Evaluate the creditworthiness of local governments and PDAMs
Community Creditworthiness
| Project | Creditworthiness Assessment | Key Issues |
|---|---|---|
| Sepatan | Low | Financial instability, uncertain water rights, land acquisition challenges |
| Benda | Moderate | High investment cost, tariff concerns, PDAM competition |
| Surakarta | High | Stable financial growth, PDAM is improving, potential for immediate income |
Form of Partnership
| Project | Partnership Type | Risk and Attractiveness |
|---|---|---|
| Sepatan | Greenfield concession | High risk, low immediate revenue, difficult to attract private partners |
| Benda | Combined BOT and concession | Moderate risk, BOT component provides some guaranteed income |
| Surakarta | BOT bulk water supply | Low risk, take-or-pay contract, immediate income for PDAM |
Technical Considerations
| Factor | Sepatan | Benda | Surakarta/Sukaharjo |
|---|---|---|---|
| Total Investment (USD) | $16 million | $20.5 million | $5.4 million |
| New Connections | 31,900 | 10,600 | 38,000 |
| Water Source | Cisadane River (uncertain) | Cisadane River (uncertain) | Bengawan Solo River (SIPA available) |
| Targeted Continuity (hrs/day) | 24 | 24 | 24 |
| Initial Avg. Tariff (per m³) | Rp. 3,150 | Rp. 3,150 | Rp. 3,800 |
Comments on Technical Merits:
- Sepatan: High potential for new connections, but significant uncertainty and risk
- Benda: High investment cost with limited new connections, tariff concerns
- Surakarta: Lower investment and higher potential for immediate revenue, though non-revenue water remains a challenge
Key Conclusions
- Sepatan has the lowest creditworthiness due to financial instability and unclear land rights.
- Benda is the second most viable, but its high cost and tariff concerns make it less attractive.
- Surakarta is the most creditworthy with a stable financial environment and a well-defined partnership structure.
- The form of partnership significantly affects the project's success and attractiveness to private investors.
- Technical factors such as investment cost, number of connections, and water source availability are critical in determining project viability.
- Land acquisition and tariff approval mechanisms are major constraints across all projects.
- PDAM Solo is the most likely to successfully implement a PPP, provided non-revenue water is reduced and operational efficiency is improved.
Recommendations
- Focus on Surakarta as the most viable project due to its better financial position and clear partnership structure.
- Address non-revenue water and tariff adjustment mechanisms in PDAM Solo to improve project bankability.
- Consider delegated management or combined concession models to reduce risk and increase attractiveness to private investors.
- Ensure land acquisition and rights of way are clearly defined and secured before tendering.
- Conduct water demand surveys to validate the need for high-quality water in Sepatan and Benda.
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