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Over the years many PPP projects have come to fruition in Italy. In this mature market for public-private partnerships the most important aspect is no longer to learn how to do it but to understand how the partnerships can be successfully managed in the long term. This year's event will feature a range of interesting presentations in areas such as contract management, performance monitoring and financial modelling for PPPs. The emergence of a Secondary Market for PPP/PFI in Italy and new models for infrastructure financing will also be debated in this year's forum.

Sponsored by Simmons & Simmons and Finpublic PPP, our prestigious line-up of speakers includes:

Special Address from:
Mr Antonio di Pietro, Minister of Infrastructure, Government of Italy*
Dr Marcello Capra, Senior Advisor, Ministry of Economic Development, Government of Italy
Avv. Gabriele Pasquini, Presidenza del Consiglio dei Ministri, UTFP-CIPE

• Allen & Overy, Catia Tomasetti, Partner
• Ambac Assurance, Vito Semeraro, Managing Director
• Ashurst, Franco Vigliano, Partner, Head of Energy, Transport and Infrastructure
• Cassa Depositi e Prestiti, Antonino Turicchi, General Manager
• Dexia Crediop SpA, Gabriele Pescarini, Head of Infrastructure
• FIN.OPI, Piero Atella, Head of Investment Team, Fondo PPP Italia
• Finpublic PPP, Luigi Marsullo, President (former Director General Evaluation, Ministry of Economy and Finance)
• Gruppo EnerTAD, Luca Giorgerini, Chief Financial Officer
• M & J Consulting, Alessandro Abati, Chief Executive Officer
• Norton Rose, Michael Taylor, Partner
• PricewaterhouseCoopers, Ricardo Togni, Senior Partner
• Simmons & Simmons, Rodolfo Errore, Partner
• Techint Compagnia Tecnica Internazionale, Luca Pecchio, Direttore Infrastrutture
• UniCredit Infrastrutture, Monica Foschi, Senior Vice President and Head of Origination

* To be confirmed

Conference programme

8:30 Registration & Coffee

9:00 Chairman's Opening Remarks

Rodolfo Errore

Rodolfo Errore, Partner, Simmons & Simmons

9:10 INFRASTRUCTURES CONTRIBUTION TO ATTAIN SUSTAINABLE ENERGY

Marcello Capra

Marcello Capra, Senior Advisor, Ministry of Economic Development, Government of Italy

  • Italian energy policy in the European context
  • Investment opportunities in the energy market in Italy
  • Perspectives and key issues
  • 9:50 CONTRACT MANAGEMENT

    Alessandro Abati

    Alessandro Abati, Chief Executive Officer, M & J Consulting Srl

    • Consensus measurement and building
    • Risk management / allocation
    • Performance monitoring and measurement
    • Contract changes / flexibility
    • Counterpart’s role definition
    • Sustainable financial planning
    • Output specification
    • Payment mechanism
    • Public commitment

    10:30 Morning Coffee

    11:00 BANKABILITY REQUIREMENTS FOR CONCESSION AGREEMENTS

    Catia Tomasetti

    Catia Tomasetti, Partner, Allen & Overy

    • Bankability issues of concession agreements
    • Lack of Equilibrium between Public Entity and Private Manager
    • Lack of bankability requisites
    • Solvency of the Public Entity
    • New Characteristics of Concession Agreements under Legislative Decree
    152/2006 and Legislative Decree 163/2006
    • Uncertainties as to applicable rules
    • Other legislative innovations
    • Conclusions

    11:40 THE PRESENCE OF MONOLINES IN THE FINANCING OF INFRASTRUCTURE PROJECTS

    Vito Semeraro

    Vito Semeraro, Managing Director, Ambac Assurance

    • The main requirements for the presence of a monoline
    • Opportunities and threats
    • Some lessons from the UK experience
    • The most important Italian experience so far: Aeroporti di Roma

    12:20 Networking Lunch

    13:50 CONTRACTUAL AND LEGAL ISSUES IN PPP/PFI

    Franco  Vigliano

    Franco Vigliano, Partner, Ashurst (Milan)

    • Code of Public Contracts
    • Regional Laws
    • New Awarding Authorites
    • Competitive Dialogue
    • Promotore Contest
    • Promotore and Avviso Indicativo
    • How can we move forward without public funds?

    14:30 CASE STUDY

    Rodolfo Errore

    Rodolfo Errore, Partner, Simmons & Simmons

    • An Analysis of Italy's Utilitys needs and investments opportunity
    • Focus on Water, Energy and Waste
    • Project in the pipeline
    • A story of a success: the Pisa water system financing

    15:10 Afternoon Tea

    15:40 INFRASTRUCTURE FINANCING

    Cristiano Cannarsa

    Cristiano Cannarsa, Head of Project and Corporate Finance , Cassa Depositi e Prestiti

    • Consultancy
    • Infrastructure corporate financing
    • Project financing
    • The Fondo Rotativo Incentivi – A new option for financing renewable
    energy projects in Italy
    • The Fondo Infrastrutture

    16:20 PANEL DISCUSSION

    • Eurostat requirements
    • Impact on local entities and balance sheet
    • Learning by example
    Catia Tomasetti

    Catia Tomasetti, Partner, Allen & Overy

    Franco  Vigliano

    Franco Vigliano, Partner, Ashurst (Milan)

    Vito Semeraro

    Vito Semeraro, Managing Director, Ambac Assurance

    17:00 CASE STUDY – HEALTH SECTOR

    • Italian PFI – An introduction
    • “Fast track” to construction
    • Innovation in providing services
    • Tradition in finance for an innovative project
    • Italian model risk allocation
    • Conclusion
    Gabriele Pescarini

    Gabriele Pescarini, Project Manager, Dexia Crediop

    Luca Pecchio

    Luca Pecchio, Direttore Infrastrutture, Techint S.p.A

    17:40 Chairman's closing remarks and end of day one

    9:10 Registration & Coffee

    9:40 Chairman's Opening Remarks

    Nicolas Souche

    Nicolas Souche, Head of Structuring, Corporate & Structured Finance, Dexia Crediop

    9:50 INFRASTRUCTURE FINANCING

    Piero Atella

    Piero Atella, Head of Infrastructure, FINOPI

    • The role of a financial investor in a PPP project
    • What financial investors expect to achieve from investing in infrastructure
    • The “Fondo PPP Italia” an Italian financial investor in the PPP market

    10:30 Morning Coffee

    11:00 COMPETITIVE DIALOGUE AND POTENTIAL FOR STRATEGIC

    Franco Campomori

    Franco Campomori, Partner, Orrick Herrington & Sutcliffe L L P

    • Legislative framework
    • Applicability to strategic infrastructures
    • The competitive dialogue process: the dialogue phase and the awarding phase

    11:40 FINANCIAL MODELLING FOR PPP/PFI

    Ricardo Togni

    Ricardo Togni, Senior Partner, PriceWaterhouseCoopers

    • Risk analysis and allocation
    • Bankability
    • Financial progress

    12:20 Networking Lunch

    13:50 PANEL DISCUSSION

    • Current PPP/PFI deal flow
    • Changing models for infrastructure financing
    • Emergence of infrastructure as an asset class
    • The role of private equity and specialized funds
    Nicolas Souche

    Nicolas Souche, Head of Structuring, Corporate & Structured Finance, Dexia Crediop

    Monica Foschi

    Monica Foschi, Senior Vice President & Head of Origination, UniCredit Infrastrutture SpA

    Michael Taylor

    Michael Taylor, Partner, Norton Rose

    Piero Atella

    Piero Atella, Head of Infrastructure, FINOPI

    Luigi Marsullo

    Luigi Marsullo, President (former Director General Evaluation, Ministry of Economy and Finance), Finpublic PPP

    14:30 FUTURE OUTLOOK

    Michael Taylor

    Michael Taylor, Partner, Norton Rose

    • Extension of PPPs to different sectors
    • Growing standardisation to reduce time and cost
    • Growth of strategic partnering
    • Increased sharing of upside by Governments
    • Development of secondary market in equity
    • Increased attractiveness of infrastructure as an asset class

    15:10 Afternoon Tea

    15:40 THIRD PHASE OF THE PPP/PFI MARKET: EQUITY NEEDS

    Monica Foschi

    Monica Foschi, Senior Vice President & Head of Origination, UniCredit Infrastrutture SpA

    • PPP/PFI domestic market
    • PPP/PFI advantages and disadvantages: banks and sponsors standpoint
    • Main issues: project viability, market perspective, equity injection,
    investment returns
    • Main issues: market and operational risk, bankability, equity needs,
    contract documentation
    • How to afford project equity needs: a future perspective

    16:20 SECONDARY MARKET INVESTMENTS IN ITALIAN INFRASTRUCTURE

    Carlo Massini

    Carlo Massini, Lawyer, Lovells

    • Due Diligence
    • Corporate documentation and existing equity documentation
    • Project Agreement and main subcontracts
    • Debt finance documentation
    • Share purchase

    17:00 EVALUATION AND PERFORMANCE MONITORING FOR INFRASTRUCUTURE PPPs

    Luigi Marsullo

    Luigi Marsullo, President (former Director General Evaluation, Ministry of Economy and Finance), Finpublic PPP

  • Evaluation of grants, incentives, private and public finance for infrastructures in Italy
  • Ex-ante evaluation
  • Ongoing evaluation and monitoring
  • Ex-post evaluation
  • Need for further improvements
  • 17:40 Chairman’s Closing Remarks and Close of Day Two

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    Workshops

    Concession Agreements & Eurostat Requirements
    Workshop

    Concession Agreements & Eurostat Requirements

    Radisson SAS Hotel Rome
    24th September 2007
    Rome, Italy

    Radisson SAS Hotel Rome

    Via Filippo Turati 171
    Rome IT-00185
    Italy

    Radisson SAS Hotel Rome

    HOTEL BOOKING FORM

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