European Procurement and Government Contracts Digest: Closing the Gap on Concession Contracts - European Union sets up harmonised framework for awarding of “concession contracts”

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In the European Union (EU), around 60% of Public-Private Partnerships (PPP) are entered into on a concession basis. This represents an EU-wide market worth more than €100 billion ($135 billion) each year. For the first time, the EU has now issued legislation to harmonise and regulate procurement in the market for public concession contracts.

CONCESSION CONTRACTS IN PRACTICE -

A concession is a grant of rights – perhaps of land or property or, often, a right to operate in a particular sector – by a government, local authority, corporation, individual or other legal entity. The concession may include the right to build and/or use some form of public infrastructure or the right to exploit certain natural resources.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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