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Principles of Project Finance, 2nd Edition by E. R. Yescombe

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Chapter 3

Project Development and Management

The life of a project can be divided into three phases: development, construction, and operation. The Sponsors (§3.2) play the primary rôle during the development phase of the project, managing this process (§3.3) with the support of external advisors (§3.4). Where more than one Sponsor is involved, a joint-venture structure has to be agreed to (§3.5). The Project Company is usually set up towards the end of the development phase and manages the project from Financial Close (§3.6). The project may also be developed initially by parties other than the Sponsors through a bidding (public procurement) process for a PPP project, organized by a Contracting Authority (§3.7).

Keywords

project development; project ...

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