2008年-世界发展银行全球_Investment_Commitments_in_East_Asia_and_Pacific_Remained_Stable_in_2007_11页_609kb

PPI Data Update Note 14: December 2008

Core Content Summary

The document provides an overview of investment commitments in infrastructure projects with private participation in the East Asia and Pacific region for the year 2007. It highlights the stability of investment, the leading countries in terms of investment and new projects, the distribution of projects by type and sector, and the status of concluded and potential projects.

Main Points

Total Investment Commitments

• Investment commitments in the East Asia and Pacific region increased by 11% in 2007 to US$21.5 billion.
• The region accounted for 13.6% of the total investment commitments in developing countries for the year.
• Investment in 2007 was 46% of the peak in 1997.
• US$17 billion was invested in physical assets, similar to the levels of 2003 and 2005.
• US$4.5 billion was paid to the government, including divestiture revenues and fees.

Leading Countries

• Activity was concentrated in China, Indonesia, and the Philippines, which accounted for 80% of the investment and 89% of the new projects.
• China accounted for 81 of the 104 new projects and 35% of the total investment.
• Indonesia accounted for 8 new projects and 24% of the total investment.
• Philippines accounted for 4 new projects and 20% of the total investment.
• The remaining 20% of investment was spread across six other countries: Cambodia, Malaysia, Papua New Guinea, Thailand, Vanuatu, and Vietnam.

Project Types

• Greenfield projects were the most common, with 66 new projects and 59% of total investment.
• Concessions (BROT and ROT) accounted for 25 new projects and 9% of investment.
• Divestitures attracted 32% of investment, primarily directed to previously divested companies.
• Only one management contract was implemented for a sewage treatment plant in China.

Sector Activity

• Telecommunications attracted the most investment, with 35% of the total.
• Transport and Energy each accounted for 29% of the total investment.
• Water and sewerage accounted for 7%, but had the highest level of investment in any developing region, totaling US$1.6 billion.
• China had the largest number of new projects in this sector, with 44 projects reaching financial closure.

Key Projects by Sector

Energy

• China signed 28 contracts involving US$2 billion in investment.
  • 15 wind power plants and 1 waste-to-energy project with a total capacity of 810 MW.
  • 12 natural gas distribution projects with service areas covering 1.2 million people.
• Cambodia signed 3 BOT contracts for hydropower and electricity transmission.
• Indonesia began construction of a 200-MW coal-fired power plant under a BOO contract.
• Philippines finalized the sale of two power plants and implemented a new 200-MW coal-fired plant.
• Vietnam partially divested three power plants and implemented a BOT hydropower project totaling 660 MW.

Telecommunications

• US$7.5 billion in investment, including US$6.8 billion from previously implemented projects and US$696 million from new projects.
• Philippines sold a 6.4% stake in Philippine Long Distance Telephone Company.
• Papua New Guinea implemented a new mobile license project.

Transport

• China signed 11 contracts involving US$3.8 billion in investment.
  • 5 BOT contracts for roads, 4 for seaports, and 2 for airports.
• Indonesia implemented 6 road projects with US$1.2 billion in investment.
• Malaysia implemented a BOT contract for the Kajang-Seremban Highway.
• Vietnam implemented a 50-year BOT contract for a seaport terminal.

Water and Sewerage

• China implemented 42 projects with US$1.6 billion in investment.
  • 31 treatment plants (21 sewage, 7 water, and 3 combined).
  • 11 water utilities.
• Indonesia signed a concession for a water treatment plant in Pangkalpinang City.
• Malaysia signed a concession for a water treatment plant in Hulu Langat.

Potential Projects

• At least 25 projects were awarded in 2007 but did not reach financial or contractual closure.
• 14 potential projects were in energy: including 9 greenfield power plants, 1 gas pipeline, and 3 power plant divestitures in the Philippines.
• 11 potential projects were in transport: 6 roads, 4 seaports, and 1 railway project in Cambodia.

Canceled and Distressed Projects

• No new canceled or distressed projects were reported in 2007.
• A total of 65 projects were canceled or distressed from 1990–2007, representing 5% of all infrastructure projects and 11% of investment commitments.

Concluded Projects

• Two projects were concluded in 2007:
  • Malitbog geothermal power plant under a 12-year BOT contract.
  • Mahanagdong geothermal power plant under a 10-year BOT contract.

Key Information

• The data is sourced from the Private Participation in Infrastructure Project Database.
• PPI types include Greenfield projects, Concessions, and Divestitures.
• Private equity varied by project, with some projects having 100% private ownership.
• Payments to the government included divestiture revenues, spectrum fees, and concession fees.
• Contract periods varied from n.a. to 50 years.
• Main sponsors included Chinese, Australian, Singaporean, and Malaysian companies, as well as international entities.