Thai firm Siam Premier has advised the Thailand government on the establishment of its new PPP framework. The initiative, which will provide funding for major infrastructure projects value in excess of THB 1bn ($US30m), provides a definitive blueprint on how public and private sector companies can work together to find and build vital infrastructure such as hospitals and roads.
 
Leighton O'Brien, a partner at Australian firm Allens Arthur Robinson who also advised the Thai Government, says that the benefits which public and private sector companies can accrue from the PPP model means we can expect to see other countries in the region looking at similar initiatives throughout 2009.
 
"Governments across Asia are looking to infrastructure projects to help alleviate the impact of the global economic downturn, but securing funding is a significant issue. PPPs provide an opportunity for risk and costs to be shared with the added benefit that they can deliver cost savings of up to 20% on major projects. We expect to see other countries around Asia adopt a PPP framework this year," said O'Brien.
 
"Each nation's PPP framework may have its own peculiarities but, in essence, I'd expect them to be broadly similar in structure, which is good news for private sector companies who are bidding for project work across the region," he added.

Good news for lawyers as well, it seems.
 
In the first half of 2008, Allens ranked fourth in the Top 10 legal advisors of Global PFI/PPP project finance deals, acting on four deals with a total value of $US1.8bn. Clifford Chance and Allen & Overy claimed the top two spots.

Top 10 legal advisers of global PFI/PPP project finance deals – 1H 2008

* Source: Dealogic