Infraestructura global

Páginas: 133 (33239 palabras) Publicado: 1 de abril de 2011
VOLUME I 2008

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Published by Fulbright & Jaworski L.L.P.

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Edited by Joel H. Moser Published by Fulbright & Jaworski L.L.P.

Editor: Joel H. Moser Publisher: Fulbright & Jaworski L.L.P. Editorial Office: 666 Fifth Avenue, New York, NY 10103 Tel: +1 212 318 3000 Website: www.fulbright.com/globalinfrastructure To request additional copies of GlobalInfrastructure, call Lori Horsley at +1 212 318 3262 or email lhorsley@fulbright.com. Copyright © 2007 Fulbright & Jaworski L.L.P. All rights reserved. GLOBAL INFRASTRUCTURE and Connect Arrow Logo and FULBRIGHT & JAWORSKI® are trademarks of Fulbright & Jaworski L.L.P. FULBRIGHT & JAWORSKI® is registered with the United States Patent and Trademark Office. All rights reserved. No part of this publicationmay be reproduced or transmitted in any form or by any means whether graphic, electronic, mechanical or means including photocopying, recording, or information storage and retrieval systems without the written permission of the publisher. The information and opinions in this publication are not intended to be a comprehensive study, not to provide legal advice, and should not be treated as asubstitute for legal advice concerning particular situations. Legal advice should always be sought before taking any action based on the information provided. The publisher bears no responsibility for any errors or omissions contained herein.

Table of Contents

Editor’s Note Infrastructure: The Investment that Saves the World? by Paul Erlendson China’s Olympic Growth: Opportunities and ChallengesPresented by Private Sector Participation in Infrastructure Development by Jeff Blount and Joanne Du Dispute Resolution Under Brazil’s Federal PPP Law by Henry G. Burnett Foreign Investment in India: Strategies to Diminish Legal Risks by Gregg Harris Public-Private Partnerships in Central and Eastern Europe: Structuring Concession Agreements by Christopher Clement-Davies Issue Focus: U.S.Infrastructure Infrastructure Investment, American Style by Joel H. Moser U.S. Public Infrastructure Investment: Selected Tax Considerations by David A. Gillespie Financing a U.S. Infrastructure Investment: Comparing Traditional and Private Financing Methods by Declan McManus A Survey of PPP Legislation Across the United States by Michael E. Pikiel, Jr. and Lillian Plata Fulbright & Jaworski L.L.P. GlobalInfrastructure Group

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Welcome
Welcome to the first issue of Global Infrastructure. This publication provides insight and perspective on investment in infrastructure, which has emerged as one of the world’s leading asset classes. The need for global infrastructure investment today is staggering. U.S. waterworks and roads require over $3 trillion in capitalmerely to maintain current service levels. The World Bank puts emerging market capital requirements at over $1.25 trillion and European infrastructure needs (excluding “social” categories) are thought to be over €5 trillion. An industry has emerged to meet these needs. Many institutional asset managers have begun advising institutional investors, including most major North American public pensionfunds, to invest between 3% and 15% of their total investment portfolio in an “infrastructure asset class.” These investments, which include transportation, communications, water and power, are seen as the ideal offset to long-term pension liabilities because they are long-lived assets with stable inflation-adjusted returns. Global Infrastructure will examine selected topics arising from thisglobal investment phenomenon with a special focus report in each issue on a particular region, country or sub-asset class. The focus report for this edition is the transformation of the US infrastructure market. Over the past several years, US state and local governments have begun to explore the role that equity investment can play in their infrastructure development plans. Texas led the way with...
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