2006 - UK - Highway Robbery? A Financial Analysis of Design, Build, Finance and Operate (DBFO) in UK Roads

This paper presents the accounting and financial data to analyse the investment costs, including the cost of using private finance. It presents the Highways Agency’s expenditure on DBFO, the structure of the deals, the DBFO companies’ income, the costs (including the cost of debt) and the returns to shareholders to provide evidence about the financial operation of DBFO.