Purpose Infrastructure development through public-private partnership (PPP) route in India has exhibited concerns about not promoting progress toward sustainable development goals, particularly social and environmental perspectives. The purpose of this paper is, therefore, to identify the shortcomings in the Indian PPP procurement process using the key principles of sustainability. Design/methodology/approach Qualitative research inquiry through grounded theory approach by using the literature and interview source was used to identify the challenges encountered in sustainable infrastructure development of PPP projects. These challenges were, first, reviewed from the perspectives of key sustainability principles and then discussed with the key stakeholders through focused interviews. Furthermore, micro-interlocutor analysis was carried to get an insight on the extent of consensus amongst the experts regarding these identified shortfalls. Findings The key shortfalls identified from the study that adversely affect progress toward sustainable development include incomprehensive environmental impact assessment and social impact assessment studies; lack of stakeholder and local participation; high bidding and transaction cost; high user charges; improper risk allocation; lack of transparency and accountability; goal conflicts between public and private sector; and lack of skill and knowledge about sustainability. Practical implications The study findings will help in devising appropriate strategies for enhancing the mechanisms, policies, and governance structure of PPP process in order to overcome these shortfalls and help in accomplishing the goals of sustainability while developing infrastructure even through PPP route. Originality/value The paper presents different insights into PPP from sustainability perspective which has not been the focus of the current studies on PPPs. Sustainability assessment of PPP procurement is an area of research which is in a nascent stage.

Public private partnerships (PPPs) allow the Indian Government to leverage private capital for meeting the widening demand-supply gap in the provision of infrastructure services. The private sector, however, prefers to limit the participation to financially attractive projects only, thereby resulting in patterns of infrastructure creation impeding the progress towards sustainable development. In order to promote sustainable development, the PPP procurement process should focus on incentivising the private sector for sustainable infrastructure development rather than concentrating on ensuring financial sustainability only. This paper discusses the principles-based PPP-specific framework that has been developed to facilitate assessment of PPP projects' progress towards sustainable development. The framework development was based on a holistic approach to sustainability assessment and subsequently validated through questionnaire survey with key stakeholders in the Indian PPP programme. This framework will provide the decision makers with appropriate decision aid for integration of sustainable development principles in the PPP procurement process.

No abstract

Public–private partnership (PPP) road projects are highly leveraged capital‐intensive projects. Lenders, which provide the major portion of financing in the form of debt instruments, undertake loan approval processes to examine the various aspects of the projects that could influence the debt servicing capability while making credit decisions. In view of this, project sponsors could also assess beforehand how desirable is the project from the debt financing perspective in order to facilitate timely arrangement of debt financing and avoid funding problems. The Desirability Rating Analytical Tool (DRAT) has been developed in order to enable the project sponsor to assess how desirable the project is from a debt financing perspective. DRAT uses the aggregation operator Choquet fuzzy integral to aggregate the information relating to the various aspects of PPP road projects that lenders take into account while making credit decisions. The application of DRAT is illustrated with an example of a PPP road project from a National Highways Development Programme undertaken by the National Highway Authority of India, Government of India. DRAT expressed the result of the information aggregation in the form of a desirability rating profile indicating the degrees of membership to different levels of desirability. The desirability rating profiles of the project provide valuable information for decision making and can help in formulating strategies on improving the performance of the project where it is not performing satisfactorily.Decision making, public–private partnerships, fuzzy set, risk management, project finance,

Purpose The performance of public–private partnership (PPP) projects depends on how the project has been structured. The traditional PPP option analysis for structuring project scope and size relating to the bundling of functions concerning a single component of the value chain will need to be extended to handle multi-component sectors such as municipal solid waste (MSW) in formulating the project scope. This analysis is currently missing in the extant literature. The paper aims to discuss these issues. Design/methodology/approach Through a comprehensive literature review as the methodological backbone, this study develops a testable holistic framework for the procurement of MSW PPP projects that examines how various factors of bundling affect the performance of the PPP projects. Findings Using transaction cost economics, agency and auction theories, the review identifies that innovation, maturity, quality specifiability, scope, competition, information asymmetries and transaction attributes have a significant influence on the performance and success of the PPP projects. Research limitations/implications Alternative supply chain management possibilities and firm-level organisational ways can be predicted using this framework to strategize the solutions for the municipal infrastructure. Based on this contribution, future research can test the framework to increase the knowledge of bundling theory about how to structure network infrastructure PPP projects. Originality/value Studies on how to bundle/unbundle the projects having components of the value chain are in a nascent stage. The present study attempts to extend the body of knowledge on PPP to the complexity of bundling both the functions and components of the value chain in structuring the PPP project scope.