Value for money analysis of the Zona da Mata regional airport public–private partnership
| VFM Analysis – ZMRAPPP | Period | 0 | 1 | 2 | 3 | 4 | 5 | 30 |
|---|---|---|---|---|---|---|---|---|
| Year | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2044 | |
| SELIC Rate | 11,02% | 13,58% | 14,17% | 10,23% | 8,25% | 7,19% | 6,50% | |
| Discounting Factor | 100,00% | 88,04% | 76,72% | 74,66% | 72,83% | 70,68% | 15,12% | |
| Public Expenditure - via PPP | at Dec./2014 prices | |||||||
| Maximal Public Payment | 3.352.839 | 4.470.452 | 4.470.452 | 4.470.452 | 4.470.452 | 4.470.452 | ||
| (-) Sharing of Tariff Revenues Discount | 949.294 | 1.016.316 | 1.440.635 | 1.440.635 | 2.148.469 | 5.908.829 | ||
| (-) Sharing of Commercial Revenues Discount | 13.400 | 33.413 | 54.675 | 54.675 | 54.675 | 54.675 | ||
| (=) Total Public Payment | 2.390.144 | 3.420.723 | 2.975.141 | 2.975.141 | 2.267.307 | (1.493.052) | ||
| Total Public Payment – via PPP | 29.304.549 | – | 2.390.144 | 3.420.723 | 2.975.141 | 2.975.141 | 2.267.307 | (1.493.052) |
| NPV – Total Expenditure via PPP | 20.150.259 | – | 2.104.309 | 2.624.456 | 2.221.355 | 2.166.686 | 1.602.469 | (225.729) |
| Public Expenditure – via Public Sector Comparator | at Dec./2014 prices | |||||||
| Public Payments for Airport Management by Outsourcing Contracts | 8.152.649 | 8.152.649 | 8.152.649 | 8.152.649 | 8.152.649 | 8.152.649 | ||
| (-) Tariff Revenues Earned by the State | 949.294 | 1.016.316 | 1.440.635 | 1.440.635 | 2.148.469 | 5.908.829 | ||
| (-) Commercial Revenues Earned by the State | 67.000 | 167.063 | 273.375 | 273.375 | 273.375 | 273.375 | ||
| (=) Total Public Payment | 7.136.354 | 6.969.270 | 6.438.638 | 6.438.638 | 5.730.804 | 1.970.445 | ||
| Total Public Payment – via PSC | 134.577.224 | – | 7.136.354 | 6.969.270 | 6.438.638 | 6.438.638 | 5.730.804 | 1.970.445 |
| NPV – Total Expenditure via PSC | 65.443.121 | – | 6.282.924 | 5.346.981 | 4.807.336 | 4.689.023 | 4.050.372 | 297.904 |
| Public-PPP Difference | 45.292.862,76 | 69,2% |
| VFM Analysis – ZMRAPPP | 0 | 1 | 2 | 3 | 4 | 5 | 30 | |
|---|---|---|---|---|---|---|---|---|
| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2044 | ||
| Maximal Public Payment | 3.352.839 | 4.470.452 | 4.470.452 | 4.470.452 | 4.470.452 | 4.470.452 | ||
| (-) Sharing of Tariff Revenues Discount | 949.294 | 1.016.316 | 1.440.635 | 1.440.635 | 2.148.469 | 5.908.829 | ||
| (-) Sharing of Commercial Revenues Discount | 13.400 | 33.413 | 54.675 | 54.675 | 54.675 | 54.675 | ||
| (=) Total Public Payment | ||||||||
| Public Payments for Airport Management by Outsourcing Contracts | 8.152.649 | 8.152.649 | 8.152.649 | 8.152.649 | 8.152.649 | 8.152.649 | ||
| (-) Tariff Revenues Earned by the State | 949.294 | 1.016.316 | 1.440.635 | 1.440.635 | 2.148.469 | 5.908.829 | ||
| (-) Commercial Revenues Earned by the State | 67.000 | 167.063 | 273.375 | 273.375 | 273.375 | 273.375 | ||
| (=) Total Public Payment | ||||||||
Source: Elaborated by the authors with research data
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