Nam Ngiep 1 Hydropower Project

ENERGY

Bolikhamxay, Lao PDR

Project Overview
The Nam Ngiep 1 hydropower plant is located on the Nam
Ngiep River, a tributary of the Mekong River that runs along
the border between Laos and Thailand. It is a large-scale dam
type hydropower plant with a maximum output of 290 MW
constructed in Laos, which has the abundant hydraulicpotential of the Mekong River. Through its 27 years ofoperation, the plant will export electricity to Thailand andneighboring countries to alleviate the power demand of theentire region, and will also contribute to the stable supply ofelectricity in Laos by selling electricity to the Électricité duLaos (EDL). The project is operated by Nam Ngiep 1 Power
Company Limited, a joint venture established by KPN, asubsidiary of Kansai Electric Power Company (KEPCO),
EGATi, a subsidiary of the Electricity Generating Authority ofThailand (EGAT), and the Laos Holding State Enterprise(LHSE).

Project Detail
IMPLEMENTING AGENCY :Ministry of Planning and Investment, Government of Laos
PRIVATE-SECTOR COMPANIES :Kansai Electric Power Company (KPN), EGAT International,
Laos Holdings State Enterprise

PROJECT SCHEMESCOPE OF WORK :Design, Construction, O&M of Concrete gravity dam andpower plant

Government of
Laos

Concession
Agreement

TYPE OF PPP :BOTCONTRACT DURATION :27 years (from 2019)

CONSTRUCTION PERIOD:

2014/10 – 2019/9

EGATi

PROJECT VALUE :USD $982 million

LHSE

KPN

EquityElectricity
Generating
Authority of Thailand

Electricite duLaos(5% of(95% ofthe total
the total Power Sales revenue)
revenue)
Contract
Loan

SPC

Operation &Maintenance

JBIC
Japanese Banks

Construction

ADB
Bank of Thailand

Public Work
(Obayashi
Corporation)

Electrical Work
(Hitachi Mitsubishi
Hydro Corporation)

Metal Work(IHI Infrastructure
Systems)

Design andConstruction

Key Features
A Japanese electric power company with extensive experience in the development and operation of hydroelectric power
generation is consistently participating in the project. Japanese products, experiences, and finance are utilized for the
installation of generators, water pipes, civil engineering work, etc., providing high-quality power plant operations thatenable a stable supply of electricity over the long term under an all-Japan approach.
The company employed about 1,000 local workers during the construction and provides long-term training for local staff
in power plant operation, contributing to job creation and human resource development in Laos.
The Japan Bank for International Cooperation (JBIC) provided Co-financing for this project with domestic and foreign
financial institutions including the Asian Development Bank (total amount of Co-financing: US$643 million).

32

Dariali Hydropower Plant

Kazbegi Municipality, Georgia

ENERGY

Project Overview
TEPCO Renewable Power, Incorporated acquired 31.4% of theshares of JSC Dariali Energy, a hydroelectric power generationcompany established in 2011, from Peri LLC of Georgia, toparticipate in the operation of the Dariali hydroelectric power
plant (total output: 108MW). The Dariali hydroelectric power
plant is located in Kazbegi Municipality, Georgia, and has beenin stable operation since it started commercial operation in
December 2016 under a power purchase agreement with
Electricity System Commercial Operator (ESCO), the market
operator in Georgia's electricity sector. The Dariali hydropower
plant generates about 4% of Georgia's annual electricity
consumption, and is regarded as an important renewable energy
source in Georgia.

Project Detail
IMPLEMENTING AGENCY :Government of Georgia
Electricity System Commercial Operator (ESCO)PRIVATE-SECTOR COMPANIES :Energia, TEPCO Renewable Power Singapore, Lok W. Home
Irrevocable Trust
PROJECT SCHEMESCOPE OF WORK :Participation in the development, construction, operation andmaintenance of hydroelectric power.
TYPE OF PPP :TEPCO Renewable
Power, Inc.

BOO

CONTRACT DURATION : 15 years (from 2016)
Operation to be continued after the expiration of the contract
periodEquityLok W. Home
Irrevocable Trust

Energia

TEPCO Renewable
Power Singapore

CONSTRUCTION PERIOD: 2012/12 -2016/12
PROJECT VALUE :Equity

USD $124.5 million

Dariali Energy
Power
Sales
ESCO

Key Features
Through the dispatch of executives and staff from TEPCO Renewable Power, the company introduces Operation and
Maintenance expertise that has been cultivated over many years in the Japanese hydropower business, and works to
improve its operational capacity, including optimization of O&M activities.

Nippon Export and Investment Insurance (NEXI) has underwritten the overseas investment insurance for the portion of theinvestment made by TEPCO Renewable Power, Incorporated. The project is the first underwritten project by NEXI since
the signing of the Memorandum of Understanding (MOU) in March 2019, between NEXI and the Ministry of Economy
and Sustainable Development of Georgia, which aims to promote trade between the two countries.

33

Meghnaghat Natural Gas-Fired Combined Cycle Power Plant
Meghnaghat, Bangladesh

ENERGY

Project Overview
The project is being executed by a joint venture between a
Japanese and an Indian company to build, own and operate a 718
megawatt (MW) liquefied natural gas combined cycle power
generation plant in the Meghnahat area, located about 40
kilometers southeast of Dhaka, the capital of the People‘s
Republic of Bangladesh. JERA Co., Inc., which is engaged inthermal power generation and renewable energy projects in Japanand overseas, acquired a 49% stake in the project from ReliancePower Limited, a major power generation and coal resourcecompany in India, and will conduct the project through theoperating company, Reliance Bangladesh LNG & Power Limited.
The electricity generated by the project will be sold under a longterm power purchase agreement with the Bangladesh Power
Development Board for a period of 22 years (with a government
guarantee) starting from 2023.

Project Detail
IMPLEMENTING AGENCY :Bangladesh Power Development Board (BPDP)

PRIVATE-SECTOR COMPANIES :Reliance Power Limited, JERA Co., Inc.

PROJECT SCHEMESCOPE OF WORK :Design, Construction, Operation and Maintenance of natural
gas combined-cycle power generation plant
TYPE OF PPP :Bangladesh Power
Development Board

BOO

CONTRACT DURATION :22 years‘(from start of Operation)
CONSTRUCTION PERIOD:ーPROJECT VALUE :

ー

JERA

Power Purchase
Agreement(with Government
Guarantee)

EquityADB

SPC
Reliance
Power

EPC
Contract

Contractor

JBIC
Loan
Gas
SupplyAgreement

Titas

Japanese
Banks

Loan
Insurance

NEXI

Key Features
JERA Co., Inc., which is engaged in thermal power generation and renewable energy projects in Japan and overseas,
will contribute to the economic development of Bangladesh by providing stable and efficient power generation, utilizing
its extensive experience in operating power plants around the world.
The project finance for this project is co-financed with domestic and foreign financial institutions including Japan Bankfor International Cooperation (JBIC) and Asian Development Bank (ADB) with a total amount of US$642 million.
Nippon Export and Investment Insurance (NEXI) has underwritten loan insurance and overseas investment insurance(for the loans provided by private financial institutions) for the power plant construction and operation.

34

Dubai Energy-from-Waste Project

Warsan district, Emirate of Dubai, UAE

WASTE MANAGEMENT

Project Overview
Dubai Waste Management Company P.S.C. (DWMC), a
special purpose company (SPC) established by International
consortium, will build, own, and operate one of the world's
largest waste treatment and power generation plants using
stoker incinerators in the Warsan district of the Emirate ofDubai under a 35-year concession agreement with Dubai
Municipality.
(Annual waste treatment capacity: 1.9 million tons, power
generation capacity: 200 MW)
ITOCHU Corporation, which has an equity stake in DWMC,
plays a leading role in the project by dispatching personnel tothe company and leveraging its extensive experience in thewaste incineration and power generation sectors, while Hitachi
Zosen Inova AG, which also has an equity stake in DWMC, istaking a central role in the construction contracting andoperation and maintenance of the Energy-from-Waste plant.

PROJECT SCHEME

Project Detail
IMPLEMENTING AGENCY :Dubai Municipality
Hitachi
Zosen
Inova AGPRIVATE-SECTOR COMPANIES :Dubai Holding LLC, DUBAL Holding LLC,
ITOCHU Corporation, Hitachi Zosen Inova AG,
N.V. BESIX S.A. (BESIX) ,Tech Group

BOOT

CONTRACT DURATION :35 years (from 2024)

Hitachi
Zosen
Inova AG

Dubai
Holding
LLC

N.V. BESIX
S.A.

Tech Group

BESIX
Group
Campanies

EPC
/O&M

SPC

Dubai Waste
Management
Company P.S.C.

Concession
Agreement

Dubai
Municipality

Loan

Loan
Insurance

CONSTRUCTION PERIOD: 2021/6 – 2024/7
PROJECT VALUE :DUBAL
Holding
LLC

EquitySCOPE OF WORK :Design, procurement, construction (EPC) , Operation and
Maintenance (O&M) of Energy-from-Waste (EfW) plants
TYPE OF PPP :ITOCHU
Corporation

NEXI

USD $1.2 billion

Sub-Sovereign
Guarantee
Mizuho Bank, Ltd.
Sumitomo Mitsui
Banking
Corporation, etc

Departmentof Financeof DubaiJBIC

Key Features
The Emirate of Dubai has set policy goals to reduce the amount of waste sent to landfill, promote sustainable andenvironmentally friendly waste management, and encourage the development of alternative energy sources, with thegoal setting to reduce the amount of waste sent to landfill to zero by 2032. Through this project, Dubai will be able totreat the equivalent of 45% of the waste generated in Dubai, which will greatly contribute to global environmental
conservation.
A total of approximately USD $927 million in project financing has been co-financed between the Dubai Waste
Management Company P.S.C., and domestic and foreign financial institutions, including the Japan Bank for International
Cooperation (JBIC). In addition, the loans from Japanese financial institutions are insured by Nippon Export andInvestment Insurance (NEXI).

35

WATER

Water Purification Plant in Cambodia

Koh Dach, Phnom Penh & Koh Oknha Tei, Kandal Province

Project Overview
Kobelco Eco-Solutions Co., Ltd., in collaboration with a local
partner company acquired an exclusive 20-year water supply
license from the Ministry of Industry, Science, Technology andInnovation of the Kingdom of Cambodia to supply tap water toapproximately 20,000 residents and commercial facilities in the
Koh Dach district of Phnom Penh and the Koh Oknha Tei districtof Kandal province, Cambodia. In addition to the design,
construction, and commissioning of the water supply facilities,
the project includes integrated services such as raw water intake,purification into tap water, water distribution to each end user,
meter reading, and fee collection. This is the first water supply
project to be implemented by a Japanese company in Cambodia,
contributing to the realization of the Cambodian government's“National Strategic Development Plan”, which aims to increase
the coverage of clean water supply by spreading the water supply
improvement projects in Cambodia's regional cities.

Project Detail
IMPLEMENTING AGENCY :Ministry of Industry, Science, Technology and Innovation,
Kingdom of Cambodia

PROJECT SCHEME

PRIVATE-SECTOR COMPANIES :Kobelco Eco-Solutions Co., Ltd., SOMA Group.

出資

SCOPE OF WORK :Design, construction, and integrated services (water intake,purification, distribution, meter reading and fee collection.)
TYPE OF PPP :Government of
Cambodia

Exclusive business license

Exclusive businesslicense (20 years)

CONTRACT DURATION :20 years‘(Start of tap water supply 2019/12)

SOMA GROUPCONSTRUCTION PERIOD : 2019/3 – 2019/12

Kobelco EcoSolutions

PROJECT VALUE :Water Tariff: USD $0.49 – 0.61/ Cubic meter‘

SPC
EquityKey Features
The automatic siphon filter* is used as the core technology for water purification treatment, which eliminates the need for
operating personnel, cleaning pumps, and electric power, and reduces maintenance costs compared to other types offiltration systems. Kobelco Eco-Solutions Co., Ltd. requested the Kitakyushu Water Supply and Sewerage Bureau, which
has an extensive experience in Cambodian water supply, for check and review on the pipeline design.
* Gravity-type rapid filtration system with full-automatic operation that does not require automatic control valves or flow rateadjustment for filtration and backwashing.

Since the start of water supply in December 2019, water has been supplied to approximately 50% of the target
population (approximately 20,000 people) as of October 2021. The water supply rate is generally progressing asplanned, contributing to the achievement of SDGs goals through water services.
Because this project is a comprehensive private sector consignment, the private sector project entity basically bears therisk. A certain amount of risk is covered by Nippon Export and Investment Insurance (NEXI) overseas investment
insurance.
36Chinggis Khaan International Airport Construction andOperation Project

AIRPORT

Tuv Province, Mongolia

Project Overview

Chinggis Khaan International Airport, which was constructed in
the suburbs of Ulaanbaatar, the capital of Mongolia, through an
ODA loan from the Japanese Government, is a project in which
the airport management company, established by a consortium ofJapanese companies and a Mongolian state-owned company,
responsible for the operation of the airport for 15 years based on aconcession agreement with the Mongolian government. This is
the first airport project in Mongolia to be outsourced to the private
sector, and the first project in which Narita International Airport
Corporation (NAA) has participated in the management of an
overseas airport with the support from the Ministry of Land,
Infrastructure, Transport and Tourism. The Japanese governmentis providing comprehensive support from the development offacilities, to the design of operational systems, as well as the
improvement of operational management capabilities throughtechnical assistance, and is contributing to the further economic
development of Mongolia.

Project Detail
IMPLEMENTING AGENCY :(Construction) Ministry of Road and Transport Development(Operation)
National Development Agency of Mongolia,‘
Civil Aviation Authority of Mongolia
PRIVATE-SECTOR COMPANIES : (Operation)
Japan 51% : Mitsubishi Corporation, Narita International Airport
Corporation, Japan Airport Terminal Co., Ltd., JALUX Inc.
Mongolia 49% : Khushigiin Khundii Airport, State Owned LLC
SCOPE OF WORK : (Operation)
Maintenance and management of civil engineering facilities(runway and apron) and operation of passenger terminal.

TYPE OF PPP :CONTRACT DURATION :PROJECT SCHEME

Japanese Companies

Technical
Cooperation

MLIT
JICA
Japanese Consortium

Narita International
Airport Corporation

EquityJapan Airport
Terminal

15 years （from 2021）

JALUX

CONSTRUCTION PERIOD: 2013/6 - 2020/4
PROJECT VALUE : USD $768 million (Total Construction Cost)

Government ofMongolia

Mitsubishi Corporation
CHIYODA Corporation

ODA
Loan

JICA

Basic Infrastructure
Concession Contract forOperation &Maintenance
Mongolian State Owned LLC

Mitsubishi
Corporation

Concession

Contract for
AirportConstruction

SPC

EquityAirport Operations

電Chinggis Khaan
International Airport

Khushigiin
Khundii Airport

EquityGovernment ofMongolia

Key Features
In response to the Mongolian government's announcement of its intention to privatize the new airport, the prime ministerand other cabinet ministers of Japan made top-level sales efforts to encourage the Mongolian government to haveJapanese corporate involvement in the airport operation through a concession model. Consistent support is provided by
the all-Japan approach, by combining JICA's various cooperation schemes, such as assisting human resource
development for the operation and maintenance of the new airport by aviation experts from the Ministry of Land,
Infrastructure, Transport and Tourism and private companies.
With the participation of Japanese airport operators, airport management know-how such as cleanliness andconsideration for universal design have been brought in, and technical cooperation in the field of air navigation services
has provided safe and efficient air navigation services, leading to high quality airport operations.
For the construction of the airport, the Special Terms for Economic Partnership (STEP) which is a part of the Japanese
ODA loan condition, was applied to contribute to the sustainable economic growth of Mongolia, and to introduce
excellent Japanese technology. Participation of Japanese companies in the operation of the airport has also contributed
to the improvement of the service quality.
37

Toll Road Business in India

ROAD

India

Project Overview
Mitsubishi Corporation, Japan Overseas Infrastructure
Investment Corporation for Transport and Urban Development(JOIN), Japan Expressway International Company Limited(JEXWAY) , and East Nippon Expressway Company Limited(NEXCO-East) have formed a consortium to jointly acquireapproximately 20% of the shares of Cube Highways andInfrastructure Pte. Ltd., an Indian toll road operator, to enter thetoll road business in India. The consortium aims to improveIndia’s highways infrastructure to support the continuing growthin passenger and commercial traffic, while at the same time
contributing to economic development across India. Cube
Highways and Infrastructure Pte. Ltd. was established by the
global infrastructure fund, I Squared Capital (ISQ), and theInternational Finance Corporation (IFC), a member of theWorld Bank Group. The company currently owns and operates
five toll roads (over 400 km) in India.

Project Detail
IMPLEMENTING AGENCY :National Highways Authority of India (NHAI) etc.
PRIVATE-SECTOR COMPANIES :Cube Highways and Infrastructure Pte. Ltd
Investment by Japanese companies:
Mitsubishi Corporation, Japan Overseas Infrastructure Investment
Corporation for Transport and Urban Development (JOIN), Japan
Expressway International Company Limited (JEXWAY), East
Nippon Expressway Company Limited (NEXCO-East)
ISQ,
IFC,
ADIA

DESCRIPTION OF TOLL ROADS SPVs :Juiper Mahua Tollway (JMTL): 109km
Mahua Bharatpur Expressway (MBEL) ：57km
Western UP Tollway (WUPTL): 78kmAndhra Pradesh Expressway (APEL) ：75km
Narketpally Addanki Medarametala Expressway (NAMEL)：
203km

TYPE OF PPP :PROJECT SCHEME

Mitsubishi
CorporationJOIN

JEXWAY

EquityEquityNEXCO
EastTechnical
Advisory

EquityCube Highways andTransportation Asset Advisors

Cube Highways

BOT

Operation &Maintenance

EquityCONTRACT PERIOD :JMTL: Operating (until 2031)
MBEL: Operating (until 2031)
WUPTL: Operating (until 2026)
APEL: Operating (until 2026)
NAMEL: Operating (until 2039)

JMTL

MBEL

WUPTL

APEL

NAMEL

Key Features
E-NEXCO INDIA Private Ltd., a local subsidiary of NEXCO-East in India, plans to carry out road surface condition
measurement work in collaboration with Cube Highways and Infrastructure Pte. A vehicle that measures road surface
conditions on Japanese expressways will be newly manufactured to measure and analyze data on road surface conditions(cracks, rutting, roughness, etc.) to support the advancement and efficiency of road maintenance in India.
By expanding the high-quality construction work and efficient maintenance and management skills cultivated in Japan,
the company aims to contribute to the achievement of the SDGs goal, by reducing traffic congestion (lowering CO2
emissions) and the environmental impact associated with the reduction of construction waste.
38

ROAD

Toll Road Business in Indonesia

Indonesia

Project Overview
Japan Expressway International Company Limited (JEXWAY),
and Japan Overseas Infrastructure Investment Corporation forTransport and Urban Development (JOIN), and West Nippon
Expressway Company Limited (NEXCO-West) have acquired
an approximate 10% share in PT Margautama Nusantara(MUN), an Indonesian toll road operator, to enter the toll roadbusiness in Indonesia. MUN is a holding company thatoversees four road operating SPCs, which currently operates a
total of 39km of toll roads in Indonesia.

Project Detail
IMPLEMENTING AGENCY :Badan Pengatur Jalan Tol (BPJT)PRIVATE-SECTOR COMPANIES :PT Margautama Nusantara
Investment by Japanese companies :Japan Expressway International Company Limited(JEXWAY), Japan Overseas Infrastructure Investment
Corporation for Transport and Urban Development (JOIN) ,West Nippon Expressway Company Limited (NEXCO-West)DESCRIPTION OF TOLL ROADS SPCs :PT Bintaro Serpong Damai (BSD): 7.25km
PT Makassar Metro Network (MMN) : 10.25km: 11.57km
PT Jalan Tol Seksi Empat (JTSE)PT Jakarta Lingkar Baratsatu (JLB) : 9.7km
TYPE OF PPP :PROJECT SCHEMEJEXWAYPPP model

CONTRACT PERIOD :BSD: Operating (until 2028)
MMN: Operating (until 2043)
JTSE: Operating (until 2041)
JLB: Operating (until 2042)

NEXCO
West

JOIN

Secondment
EquityEquityPT Nusantara
Infrastructure Tbk

Technical
Cooperation

EquityPT Margautama Nusantara
Equity

BSD

JLB

MMN

EquityJTSEKey Features
NEXCO-West has developed an inspection management tool called "Smart Inspection (SI)" in collaboration with MUN.
The tool enables efficient inspections by using smartphones and tablet devices to take photos of damaged areas ofstructures and traffic accidents, and register them in the inspection management database, for search and management of
the past data.
In MMN’s toll road extension project (4.3km), which opened in March 2021, a Quality Control Advisor (QCA) was
dispatched from Japan to MUN to propose design and construction methods, and to provide technical guidance andsupport for quality and safety improvement.
The transfer of technology to SPCs under the umbrella of the investee companies will help to implement high-quality
construction projects and efficient maintenance management, contributing to the achievement of the SDGs goal by
reducing traffic congestion (lowering CO2 emissions) and reducing environmental impact through the reduction of
construction waste.
39

Lach Huyen Port Construction Project

PORT

Haiphong, Vietnam

Project Overview
To meet the increasing demand for cargo in the Lach Huyen
district in the eastern part of Haiphong City, the project involves
the construction of a deep-water port capable of receiving largesize container vessels, as well as development of the surrounding
basic infrastructure, and the operation of a container terminal. This
project is the first PPP project between the Japanese andVietnamese governments, in which the basic infrastructure of thelower part of the port was developed with Japanese ODA loans,and the upper part of the port was developed and operated byprivate companies. The basic infrastructure of the port, including
dredging of the shipping channel, reclamation of the sea to create aport site, seawalls, breakwaters, sand barriers, a sea bridge to Cat
Hai Island, and access roads, was developed by the Vietnamese
government supported by Japanese ODA Loans.
The construction of the pier-type quay, the container terminal, theprocurement and operation of cargo-handling machinery, and theterminal operation are being carried out by Tan Can Haiphong
International Container Terminal Co.,Ltd. (TC-HICT), a joint
venture between Japan and Vietnam.

Project Detail
IMPLEMENTING AGENCY :Ministry of Transport

PROJECT SCHEME

PRIVATE-SECTOR COMPANIES : (Container Terminal)
Saigon Newport Corporation (Vietnam), Mitsui O.S.K. Lines,
Ltd., Wan Hai Lines Ltd. (Taiwan), ITOCHU Corporation

Container Terminal (Upper Part)SCOPE OF WORK : (Container Terminal)
Construction of the pier-type quay, the container terminal.
Operation of cargo handling machinery, and the terminal.

Mitsui O.S.K.Lines

Tan Can Haiphong
International Container
Terminal Co.Ltd.

ITOCHU
Corporation

TYPE OF PPP : PPP model
CONTRACT DURATION :Equity・Terminal・Pier-Type Quay
・Container Yard
・Cargo Handling Equipment

Vietnam Company,
Taiwan Company.

50 years (from 2012)

Basic Infrastructure

CONSTRUCTION PERIOD : 2013/4 - 2018/5
USD $1.3 billion
PROJECT VALUE :‘ (ODA loan : US$ 1 billion, Private Sector : US$ 0.3 billion)

JICA

ODA
Loan

Government ofVietnam・Reclamation, Soil Improvement
・Breakwater, Sediment Control
Groins・Access Road, Bridge
・Dredge・Consulting Service

Key Features
During the land development work of the terminal, the Cement Deep Mixing (CDM method) was adopted to strengthen
the soft ground formed by the accumulation of sediment from nearby rivers and to shorten the construction period.
Steel-pipe-sheet-pile well method, which enables safe and rapid construction even on soft ground, was utilized for theconstruction of the marine bridge, and for the Route dredging work, grab dredgers were used, which enable construction
in a narrow space which does not generate turbidity during dredging.
The development of the new deep-water port has enabled direct calls by long-haul shipping from North America, Europe,and other countries, reducing transshipment costs and shortening lead times, enhancing the competitiveness of the port asa logistics base in the region. In addition, the project has contributed to alleviating traffic congestion and air pollution in
the city due to the decentralization of port facilities in the northern region of Vietnam.
For the Japanese ODA loan portion, The Special Terms for Economic Partnership (STEP) conditions have been adopted
which allow the use of Japan's superior technology and know-how. Participation of Japanese companies in the operation of
the terminal has also been contributing to the improvement of the service quality.
40

Intercity Express Programme

TRANSPORT / RAIL

United Kingdom

Project Overview
The Intercity Express Programme (IEP) is a £5.7 billion project
undertaken through public-private partnership based scheme by
the UK Department for Transport to replace the longstanding
rolling stock that has been used for many years on the Great
Western Main Line (GWML) and East Coast Main Line
(ECML) in the UK. Agility Trains West Limited (ATWL) andAgility Trains East Limited (ATEL), which were jointly
established by Hitachi, Ltd. and infrastructure funds, willdevelop railway depots for the maintenance, procure and thenlease the trains and provide maintenance services to railroad
operators for a period of 27 years and 6 month.

Project Detail
IMPLEMENTING AGENCY :Department for Transport, United Kingdom
PRIVATE-SECTOR COMPANIES :Apple BidCo 2 Limited, Hitachi Rail Limited, JLIF Holdings(ATW) Limited, Infra Equity UK Holdings (ATW) Limited,
SCOPE OF WORK :Lease the trains and provide maintenance services, developing
railway depots for the maintenance.
PROJECT SCHEME

TYPE OF PPP : PPP model (Rolling stock & Maintenance)
CONTRACT DURATION :27 years and 6 month

CONSTRUCTION PERIOD:
2012/7 – 2018/12 (GWML)
2014/4 – 2020/9 (ECML)PROJECT VALUE :JBICUK Department
for Transport

Loan

PPP
Contract

EIB

USD $ 8.9 billion

Rolling Stocks Lease &Maintenance Service
Depot Construction/Upgrade

SPC
Commercial
Banks

Sponsors

Rolling StockandMaintenance
Service
Provision

EquityHitachiLease and
Maintenance
Fee Payment

Train Operating
Company

Granting of Franchise

Key Features
The project is contributing to the long-term stable provision of railroad infrastructure services in the UK by replacing
aging rolling stock that has been in operation for more than 30 years. The project is also contributing to the creation ofjobs in the local community through its new train factory and maintenance facility built in Newton Aycliffe, County
Durham, UK.
In the U.K., the country which has been actively promoting social infrastructure development with PPP scheme, theJapan Bank for International Cooperation (JBIC), private financial institutions, and the European Investment Bank
(EIB) has supported the participation of Japanese companies in overseas railroad projects through co-financing inpounds sterling. In addition, Nippon Export and Investment Insurance (NEXI) has provided overseas business loan
insurance for a portion of the loans provided by private financial institutions.

41

The Başakşehir Çam & Sakura City Hospital PPP Project

Ikitelli district, Istanbul,Turkey

HOSPITAL

Project Overview
Sojitz Corporation and Rönesans Healthcare Investment, aTurkish healthcare company, jointly designed and constructed alarge-scale public general hospital with a site area of 760,000
square meters and 2,682 beds in the Ikitelli district ofnorthwestern Istanbul, to maintain and operate the healthcare
facility for 25 years. In Turkey, the introduction of a universal
health insurance system in 2008 expanded the scope of medical
benefits, resulting in a rapid increase in the number of patientsand a shortage of hospital beds. To solve these problems, one of
the largest general hospitals in Turkey with a general hospital, acardiovascular diseases hospital, an oncology hospital, awomen’s hospital, a pediatric hospital, a neurology andorthopedic science hospital, a physical therapy andrehabilitation hospital and a psychiatry hospital has beendeveloped and operated under the PPP system.

Project Detail
IMPLEMENTING AGENCY :Turkish Ministry of Health
PRIVATE-SECTOR COMPANIES :Rönesans Group, Sojitz Hospital PPP Investment B.V. (Sojitz
Corporation)

PROJECT SCHEMESCOPE OF WORK :Design, construction, financing, operation of the hospital andmedical related service.
TYPE OF PPP :DBFOMCONTRACT DURATION :25 years

The Ministry of Health(Turkish)
Hospital Operation and
Administration Fee Payment

JBIC

EquitySojitzCorporation

SPC

CONSTRUCTION PERIOD: 2017/9 – 2020/5
PROJECT VALUE :Loan

Commercial
Banks

USD $1.82 billion(with JBIC Political Risks
Guarantees and NEXI
Insurance)

Hospital
Construction

EPC
Contractors

Key Features

TurkishCompanies
Hospital Operation and
Administration Outsourcing

O&M
Contractors

The joint venture (Istanbul PPP Sağlık Yatırım A.Ş.) provides related services such as equipment procurement, cleaning,
diagnostic imaging, etc. and receives an operating fee from the Turkish Ministry of Health. By making use of the knowhow on hospital management accumulated in Japan, the joint venture is able to improve the quality and efficiency of
medical services. Doctors and medical services are provided by the Turkish Ministry of Health.
Based on a strong request from the Turkish government, which was faced with a shortage of hospital beds due to theglobal spread of the COVID-19, the construction was completed ahead of schedule and the hospital was opened in May
2020. By solving the shortage of hospital beds, the project has greatly contributed to improving the healthcare
environment in Turkey.
Financial support has been provided through co-financing with domestic and foreign financial institutions, including theJapan Bank for International Cooperation (JBIC). Nippon Export and Investment Insurance (NEXI) has underwritten
investment and loan insurance (totaling approximately 163 billion yen) for a portion of the syndicated loan
(approximately 65 billion yen) and for the Sojitz's investment in the project (approximately 33.4 billion yen). In addition,
NEXI supports the participation of Japanese companies in overseas business by providing reinsurance for a portion of theTurkish country risk assumed by the Multilateral Investment Guarantee Agency of the World Bank Group for a portion ofSojitz's investments and loans.
421-6-1, Nagata-cho, Chiyoda-ku
Tokyo, 100-8941, Japan
Cabinet Secretariat
TEL +81-3-5253-2111
URL https://www.cas.go.jp/
Cabinet Secretariat

1-6-1, Nagata-cho, Chiyoda-ku
Tokyo, 100-8941, Japan
Public Private Partnership / Private Finance Initiative Promotion Office,Cabinet Office, Government of Japan
TEL +81-3-6257-1653
URL http://www8.cao.go.jp/pfi/