Projects: Challenges ahead
A new law that came into force in June this year will allow the French Government to use private financing to fund public projects for the first time. Michael Elland-Goldsmith looks at how this law will work in practice and at the opportunities it will present for the legal sector
Much of French infrastructure in the transport, water, waste disposal and other sectors was developed using public private partnership (PPP) techniques. Sophisticated legal tools were devised to permit this development and to ensure appropriate risk sharing, in particular the concession de travaux et de services publics. But it recently became clear that those tools have come insidiously to dominate their inventors and to prevent France, unless reform takes place, from pursuing the kind of PPP programme implemented in the UK and elsewhere.
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