General Public Private Partnership Scheme for Infrastructure in … paparan... · 2019-10-08 ·...
Transcript of General Public Private Partnership Scheme for Infrastructure in … paparan... · 2019-10-08 ·...
General Public – Private Partnership Scheme for Infrastructure in Indonesia
Sri Bagus GuritnoDirector of Public Private Partnership and Financial Engineering
Ministry of National Development Planning / Bappenas
Presented at Market Sounding of PPP Project Singkawang AirportJakarta, 7 Oktober 2019
Infrastructure Development Framework 2020-2024…Connecting infrastructure with economic sectors…
Infrastructure to Support Economic Sector Urban Infrastructure
Connectivity Leading Sector
Sea Toll Intermodal
Regional Development/
Growth Center
Regional
Development/Growth
CenterOverseas Highway
Developed Areas Rural AreasSeaport Seaport
Agriculture-Plantation-Marine
Fisheries
Manufacturing
Industry
Services
and Tourism
Energy and Electricity Development (Trilema)
Multipurpose Dam and Irrigation Modernization
Rural Areas Accessibility
+
ICT for Digital Transformation
Gender Equality
Good GovernanceMainstreaming
Sustainable Energy for Urban Area
Urban Public Transport Development
Infrastructure for Basic Services
Safe and Decent Housing Access
Secure and Safe
Transportation
Disaster Resilient
Infrastructure
Management for safe and sustainable groundwater, raw water, drinking water
Infrastructure and UrbanICT Ecosystem
Safe Drinking Water and
Sanitation (waste and
sewarage) in Cities
Safe and affordable Housing
in Big and Metropolitan Cities
Decent and Safe Sanitation Access (Wastewater and Domestic Waste)
Green Infrastructure
Capital and Social Culture
Digital Transformation
Disaster Resilient2
3Source: President Reg No 79/2017 (RKP 2018)
Private:Rp 2.707 T
(USD 180,5 Bn)(42%)
Total Infrastructure Investment2020-2024:
Rp 6.445 T(USD 429.7 Bn)
SOE’s:Rp 1.353 T
(USD 90,2 Bn)(21%)
Government:Rp 2.385 T
(USD 159 Bn)(37%)
source: Bappenas analysist (2019)
• To increase infrastructure stock from 43% GDP(2017) to 50% GDP (2024), Rp 6.445T (6.1%GDP) is required for infrastructure investment,or increase 34,3% from 2015-2019infrastructure investment (Rp 4.796,2T)
“government encourages the involvement of the private sector in infrastructure development”
PRIVATE
PPP
SOEs
JV SOEs (brownfield)
JV SOEs (greenfield)
PINA
Source: Presidential Decree 79 year 2017
Projects that provide value for money for the government so the development will be on-budget, schedule and on-service.
• Licensing • Incentive
PPP Opportunity by President Regulation 38/2015
• Special Purpose Company (SPC) was formed for Operational Projects
• Divested SPC Shares• Enhancing SOE Expansion Capability without State
Investment
• SPC was formed for under preparation projects• Collaboration with Private Sector in the SPC• Enhancing SOE Expansion Capability without State
Investment
Assignment to State Owned Enterprises
State Budget (APBN/D)
Inte
rnal
Rat
e o
f R
etu
rn (
IRR
)lo
wh
igh
New Paradigm in Infrastructure Investment Framework
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Financing vs Funding
Infrastructure
Projects
Financing – upfront investment Funding – where the money comes from to
payback the financing
Central
Government
Local
Government
SOEs
Private Sector
Central
Government
Local
Government
User
Fees
Tax
Citizens
Institutions that pays the upfront investment:
Flow of money to payback the upfront investment
Financing source:
Banks
Capital
market
Foreign
Investors
MDBs
Funding source:
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CAPEX
OPEX
PROFIT
COST OF FUND
State Budget
Foreign Loan/Grant
Government IslamicBond
EQUITY
DEBT
PROJECT CASHFLOW
Financing Project
Government Support• VGF• Special Allocation Fund• Sector Support• Others
Project Revenue
Funding
PPP – User Charge
State Budget
Local Budget
Business Entity- PPP
Infrastructure Facility
U
S
E
R
Government/Contracting AgencyTax/Government Revenue
User Charge
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PPP-Availability Payment
CAPEX
OPEX
PROFIT
COST OF FUND
State Budget
Foreign Loan/Grant
Government Islamic Bond
EQUITY
DEBT
PROJECT CASHFLOW
Financing Project
Government Support• VGF (Local Project)• Special Allocation Fund• Sector Support• Others
Availability Payment
Funding
State Budget
Local Budget
Business Entity- PPP
Infrastructure Facility
U
S
E
R
Pemerintah/PJPKTax/Government Revenue
Project Revenue(if possible)
State Budget
Local Budget
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PPP Definition
Provision of InfrastructureProvision of Infrastructure
PARADIGM
CHANGE
ASSET ESTABLISHMENT
(Government)
SERVICE TO THE SOCIETY
Conventional
ASSET ESTABLISHMENT
SUBMITTED AFTER END
CONCESSION PERIOD
Government Obligation
to Serve the Society
Government Obligation
to Serve the Society
• On schedule, on budget, on service• Continuity of planning, construction, operation and
maintenance.
• Overcome the limitations of implementation
capacity.
• With the same funds, you can leverage more projects
PPP Benefit :
PPP Scheme
• Not privatization but
asset management
through concessions
• Can be in the form of
activities that: have
income stream
(palapa ring), do not
have income (jalintim)
Government PPPPrivateSector
Service to the Society
Principal Understanding of PPP
Cooperation Between
Government And Business
Entities
Public Interest
Specifications have been
determined by the GCA
Resources Partially Or
Entirely From Business Entities
Risk Alocations
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Public-Private Partnership Regulations in Infrastructure Provision
GOVERNMENT GUARANTEE• Presidential Regulation Number 78/2010
• Minister of Finance Regulation Number 260/PMK.011/2010 jo. Ministerof Finance Regulation Number 8/PMK.08/2016
GOVERNMENT SUPPORTMinister of Finance Regulation Number 223/PMK.11/2012 (VGF)
Ministry of National Development Planning Regulation
Number 4/2015 regarding PPP General Guidelines
Provision of Business EntityHead of Government Procurement of Goods and Services Agency
Regulation Number 19/2015
Procurement of Goods and Services Agency Regulation Number 29/2018
Minister of Finance Regulation Number 260 /PMK.08/2016
Minister of Home Affairs Regulation Number
96/2016
AVAILABILITY PAYMENT;
Aspects Regulation
Subject of
partnership
Government
1. Minister
2. Head of Institution
3. Head of Region
4. SOE/ROE (mandatory
by sector regulation)
Business Entity
1. SOE/ROE
2. Foreign Business Entity
3. Limited Liability Company
4. Cooperation
Object of
PartnershipEconomic and Social Infrastructures (19 sectors of
infrastructure)
Government
Contribution
1. Government in kind
2. Government support {i.e. Viability Gap Fund)
3. Government guarantee
Investment
Return for
Business Entity
1. User charge (payment by user in the form of tariff)
2. Availability payment (payment of service availability)
3. Other forms as long as it doesn’t contravene with the
law
Phases 1. Planning phase
2. Preparation phase
3. Transaction phase
Subject matter of Presidential Regulation Number 38/2015
Presidential Regulation Number 28/2018 regarding Local
Government partnership
Presidential Regulation Number 38/2015
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19 Sectors Covered for PPP in Indonesia
CONNECTIVITYRoad▪ Toll Roads▪ Toll Bridges▪ Roads
URBAN INFRASTRUCTURE
SOCIAL INFRASTRUCTURE
Transportation▪ Seaports▪ Airports▪ Railways▪ Road transportation
Electricity▪ Power plants▪ Transmission
Energy conservation▪ Street lighting
Telecommunication & Informatics▪ Fiber optics▪ E-government▪ Satellite
Water supply
Waste management system
Water resources & irrigation
Localized waste water management
Centralized waste water management
Public housing
Urban facility▪ Traditional market
Tourism
Education facilities
Sports, art & culture facilities
Health
Zone/ Estates
Penintentiary
Oil, Gas, and
Renewable energy
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GCAPPP Project
Special Purpose Company (SPC)
Equity Sponsor
Financier
DEBT EQUITY
USERService
PPP Agreement
• Viability Gap Fund• Government
Guarantee• Government In-kind
Support
Govt Facilities
• Tariff (User Fee)• Availability Payment• Legitimate form of
payment
Investment Return Scheme
IIGFRecourse agreement
Agreement signing
General Structure of PPP
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PT PII carries out a government guarantee process
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Stages of the PPP Process and Division of Tasks in a Joint Office... Solicited ...
In Article 26 of Perpres 38/2015, planning, preparation and transactions are prepared by K / L / D
Prepared by GCA (K/L/Pemda)Accompanied by Bappenas
Prepared by K/LMinistry of Finance as a PDF facility provider
K / L starts AP payment
LKPP acts as a transaction probity
BKPM ensures the feasibility of investors and the market sounding process
Ministry of Home AffairsConsideration of KPDBU activity plan related to AP
Capacity Building is carried out by the Joint Office of the PPP with the lead of Bappenas
Bappenas secures allocations for Government Support and AP
Project Identification
Preliminary Studies
Outline Business Case (OBC)
Final Business Case (FBC)
PQ Request forProposal
Bid AwardAgreement
SigningFinancial
Close
PLANNING PREPARATION TRANSACTION
INIT
IATE
D B
Y G
OV
ERN
MEN
T(S
OLI
CIT
ED) Operation
End Contract
AssetSubmission
Construction
CONCESSION PERIODCONSTRUCTION
PPP Book -Bappenas
PINA -Bappenas
• Ministry of Finance VGF
• DAK• Partial
construction support
Example: UmbulanWater Supply
PPP Structure Selection
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PPP with Tariff
PPP with AP
PPP with Infrastructure Utilization
PPP Structure
Rigorous selection and planning of PPP projects
The result is bankable and commercially viable project
Labuan Bajo AirportMakassar-Parepare Railways
Multifunction Satellites
Road projects
+ Social Infrastructures
Achievement
To develop more comprehensive and selective supporting tool for project preparation with standardised template and strong project database (supported by the Sectors)
Bappenas publishes PPP Book annually to disseminate PPP Projects
information that includes the details of Government Contracting Agency,
PPP Structure, Investment Value and other useful information for potential
investors, lenders, and contractors
PPP Book
Need
Analysis
Compliance
Analysis
Value for Money
Analysis
Fiscal
Affordability
Assesment
PPP Structure
(Risk Allocation)
Analysis Needed in Implementing The PPP Scheme
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Preliminary Study (Planning Stage) Pre-Feasibility Study (Preparation Stage)
Need Analysis Compliance Criteria
Value for Money Analysis
Project Financing Scheme and Potential Revenue Analysis
Recommendation and Follow-up Plan
Legal & Institutional Study
Technical Study Economic & Commercial Study
Social & Environmental Study
PPP Structure Analysis
Risk Management Study
Government Support and Guarantee Need
Outstanding Issues
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20. Badung South Ringroad21. BBBPT laboratory & Building22. Merangin Dam23. BPWS Tourism zone24. Cisaranten Public Housing25. Anggrek Port
1. Yogya - Bawen Toll Road 2. Jatibarang Waste to Energy3. Tangerang Selatan Waste to Energy 4. Relocation of Salemba correctional
facility5. Nusakambangan Industrial
Correctional Facility6. West Papua Ferry Port7. LRT Semarang8. LRT Bandung Raya9. Lahat-Tarahan Railway10. Cibungur-Tanjungrasa Shortcut
Railway11. LRT Cibubur-Bogor 12. Motor Vehicle Weighing
Implementation Unit (UPPKB)13. Singkawang Airport14. Ciputat Market15. Bintuni Industrial Zone16. Central Kalimantan Provincial Hospital17. Sumatera and Sumapapua Hazardous
Waste Treatment Facilities18. Jogja Agro Techno Park19. Land Registration Information system
1. South Sumatera Non-Toll Road
2. Labuan Bajo Airport
TOTAL: USD 1,856M
TOTAL: USD 8,857 M
Solicited PPP Project Pipeline5 under operation project, 11 under construction projects, and 55 on progress projects
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TOTAL: USD 1,717 M + 1
Projects Under
Calculation
1. Manado - Bitung Toll Road
2. Balikpapan - Samarinda Toll Road
3. Serpong - Balaraja Toll Road
4. Cisumdawu Toll Road5. Serang -Panimbang Toll
Road 6. Jakarta -Cikampek
South Toll Road7. Umbulan Water Supply8. Bandar Lampung Water
Supply9. Nambo Regional Waste
Management10. Central Java Power
Plant11. West Semarang Water
Supply
1. Riau Non-Toll Road 2. Medan Municipal Transport
(LRT)3. Baubau Port4. Proving Ground BPLJSKPB5. Legok Nangka Regional
Waste Treatment 6. University of Sam Ratulangi
Teaching Hospital7. Pirngadi Hospital8. Indonesia National Cancer
Center Dharmais Hospital9. Surakarta Street Lighting10. Kamijoro Water Supply
Preliminary study
Outline Business Case(OBC)
Final Business Case(FBC)
PQ Request forProposal
Bid AwardPPP Agreement
SigningFinancial Close
TenderPreparation
TOTAL: USD 7,731 M + 2 Under calculation TOTAL: USD 4,317 M
PLANNING PREPARATION TRANSACTION
CONSTRUCTION OPERATION
Included in PPP Book 2019National Strategic Project (PSN)
Data per 01/10/2019
1. Hang Nadim Airport
2. Sidoarjo General Hospital
3. Gorontalo Hospital
4. Pekanbaru Water Supply
5. Zainoel Abidin Regional Hospital
1. Road and Bridge in Central and Western Sumatera Road Corridor
2. Bridges in Trans Java Main Corridor
3. Tarakan Airport4. North Bali Airport5. Piyungan Sanitary
Landfill6. Tanjung Adikarto
Fishery Zone7. Bakung waste
management8. LIPI Ocean
Researchfacility9. Badung Utliity ducting10. Hasan Sadikin
Hospital
1. Makassar –Parepare Railway
2. MultifunctionSatellite
3. Probowangi TollRoad
4. Semarang –Demak Toll Road
1. West Palapa Ring
2. Central Palapa Ring
3. Batang -Semarang Toll Road
4. Pandaan -Malang Toll Road
5. East Palapa Ring
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Unsolicited* PPP Project Pipeline2 under construction projects and 14 on progress projects
.
Financial Close
Construction
2 Toll Road Projects
1. Krian-Legundi-Bunder-Manyar(US$ 940.0 million)
2. Jakarta – Cikampek Elevated II(US$ 1,718 million)
2,658 Million USD
Construction
1. Jatiluhur I Water Supply (US$ 133.1 million)
2. Balikpapan – Penajam Paser Utara Toll Bridge(US$ 1,099 million)
1. Tanjung Jabung Bridge (US$ 12.0 million)2. Karian Water Supply (under calculation)3. Patimban Subang Regional Water Supply
(US$ 27.8 million)
Project proponent submitsa proposal and pre-FS
document to GCA
Pre-FS document evaluationto get pre-FS approval
Business Entity
submits FS FS evaluationProcurement
PPP
Agreement
Signing
Issuing approval
letter
Data per 01/10/2019
1. Karimun Bridge (US$ 11.9 million)
2. TOD Poris Plawad(US$ 115.6 million)
Include in PPP Book 2018National Strategic Project (PSN)
1. Semanan – Balaraja Toll Road2. Kamal – Teluknaga – Rajeg Toll
Road3. Patimban Port Access Toll Road4. Gedebage – Tasikmalaya – Cilacap
Toll Road5. Solo – Yogyakarta – NYIA Kulon
Progo Toll RoadTotal: US$ 8,084 million
1. Dumai Water Supply (US$ 36.22 million)
1. Marine Observation and Modeling (US$ 95.9 million)
Coordination PPP Joint Office Republic of IndonesiaPT Penjaminan Infrastruktur Indonesia (Persero)Capital Place, 7th & 8th FloorJl. Jenderal Gatot Subroto Kav. 18,Jakarta 12710 - Indonesia
email: [email protected]
Facilitation
Capacity Building
Accelerating PPP Implementationin Indonesia
Coordination and Facilitation According to Authority:
• Ministry of National Development and Planning / Bappenas: Project selection and identification
• Ministry of Finance / Kementerian Keuangan: Fiscal facilitation
• National Public Procurement Agency / LKPP: Procurement – transaction probity
• Indonesia’s Investment Coordinating Board / BKPM: Market sounding and market value
• Ministry of Home Affairs / Kementerian Dalam Negeri: Advisory in Regional Availability Payment
• Coordinating Ministry for Economic Affairs / Kemenko Perekonomian: Debottlenecking
• Indonesia Infrastructure Guarantee Fund / PT.PII: Government Guarantee
Capacity Building
PPP Joint Office in Indonesia
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