The Puerto Rico P3 Authority is planning a new P3 for the operation and maintenance of a ferry system.
Under the agreement, full operational risk will be transferred to the private contractor. This option will enable maximum transfer of risk to the private sector with regard to costs and performance while excluding capital investment risk, the authority said.
It is not anticipated that risks related to long-term capital investment will be transferred to the private sector.
This decision was taken following a study by KPMG, which is the procurement and financial advisor for the project.
After an analysis, KMPG and the authority have determined that the O&M concession contract is the most appropriate method for delivering the improvement of the maritime transportation services.
The ferry service is currently operated by the Maritime Transportation Authority for Puerto Rico and the Municipal Islands (MTA) and the Puerto Rico Integrated Transit Authority (PRITA) within San Juan Bay, Vieques and Culebra. MTA also operates a maintenance a base facility in Isla Grande.