Ana Luísa Guimarães and Ricardo Campos analyse the challenges facing Portugal’s new generation of PPPs | Jornal de Negócios

In an interview with Jornal de Negócios, Ana Luísa Guimarães and Ricardo Campos state that public-private partnerships (PPPs) are entering a new phase of maturity in Portugal.

In an interview with Jornal de Negócios, Ana Luísa Guimarães and Ricardo Campos argue that contractual predictability in public-private partnerships (PPPs) will be crucial to attracting investors and ensuring that road, port and rail projects do not fall by the wayside.

At a time when PPPs are entering this new phase, Ana Luísa Guimarães believes that they are moving beyond a period of stigma. She notes that the creation of the Technical Project Monitoring Unit (UTAP) and the stabilisation of the rules under the Public Contracts Code have provided a more favourable framework.

In relation to road concessions, Ricardo Campos advocates striking a balance between availability payments and actual demand, in order to prevent disproportionate payments by the State. Ana Luísa Guimarães expects the next concessions to focus primarily on the operation and maintenance of existing infrastructure, stressing that clear and predictable contracts are essential to ensuring project bankability and attracting investors. This investment must also address digitalisation, cybersecurity, the energy transition and electric vehicle charging.

Regarding port concessions, Ana Luísa Guimarães highlights the need to modernise infrastructure, review the relevant legal framework and develop contracts that balance flexibility with security for investors. She adds that concession terms should be tailored to each project, as excessive uncertainty could result in tenders attracting no bids. She also states that the competitiveness of Portuguese ports will depend on their integration with the rail network and Lisbon’s new airport.

Turning to high-speed rail, Ricardo Campos warns against unrealistic base prices and placing excessive emphasis on price. He argues that bidders’ capabilities and the technical quality of their proposals should also be considered. He further stresses that delays in the administrative courts discourage investors and that alternative dispute resolution mechanisms should be prioritised to make proceedings more efficient.

Finally, the partners were asked whether the end of Portugal’s Recovery and Resilience Plan (PRR) and a potential reduction in public investment could strengthen the role of PPPs. Both agreed that this was possible, while warning that several projects proceeding simultaneously could increase costs and exacerbate the shortage of skilled labour. They also noted that tighter European controls on foreign investment could introduce additional authorisation requirements and delays, requiring the Portuguese system to be adequately prepared.

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