Variable speed limits: conceptual design for Queensland practice

Variable Speed Limits (VSL) is an Intelligent Transportation Systems (ITS) control tool which can enhance traffic safety and which has the potential to contribute to traffic efficiency. Queensland's motorways experience a large volume of commuter traffic in peak periods, leading to heavy recurrent congestion and a high frequency of incidents. Consequently, Queensland's Department of Transport and Main Roads have considered deploying VSL to improve safety and efficiency. This paper identifies three types of VSL and three applicable conditions for activating VSL on for Queensland motorways: high flow, queuing and adverse weather. The design objectives and methodology for each condition are analysed, and micro-simulation results are presented to demonstrate the effectiveness of VSL

Subordinated Public Participation Loans for Financing Motorway concessions in Spain.

Budgetary constraints are prompting many governments to encourage private financing of transportation infrastructure through concession contracts. The length and complexity of such contracts often force governments to provide fiscal support in order to increase the attractiveness of concessions. This paper deals with a new public support mechanism for concession contracts, called Subordinated Public Participation Loans (SPPLs), which has been implemented in Spain during the last few years. SPPLs are subordinated loans that may be given by the government to the concessionaire if the latter requests them in the tender. SPPLs are defined in such a way that the increase in interest accrued will reflect the traffic level: the larger the traffic the larger will be the SPPL yield. SPPLs have a twofold goal. First, they increase the financial attractiveness, and hence the feasibility, of concessions contracts. And second, they set up a fairer risksharing approach between the public and the private sector. This paper analyzes the implications of SPPLs in motorway concessions by contrasting the theoretical analysis with the empirical results obtained form the tender of five motorway concessions in Spain. Overall we found that the implementation of this mechanism may be considered a success. In spite of that, we propose some measures that may contribute to improving the SPPL performance in the future

Comparison of Recent Toll Road Concession Transactions in the United States and France.

Recent concessions in France and in the US have resulted in a dramatic difference in the valuation placed on the toll roads; the price paid by the investors in France was twelve times current cash flow whereas investors paid sixty times current cash flow for the U.S. toll roads. In this paper we explore two questions: What accounts for the difference in these multiples, and what are the implications with respect to the public interest. Our analysis illustrates how structural and procedural decisions made by the public owner affect the concession price. Further, the terms of the concession have direct consequences that are enjoyed or borne by the various stakeholders of the toll road.Transport infrastructures, roads, privatization, regulation and tolls.