Hogan Lovells wins bid to counsel Peru on PPP standardisation
Anglo-American law firm Hogan Lovells has won the contract to provide consultancy services for the standardisation of private-public partnerships (PPPs) by Peru’s investment promotion agency ProInversión.
The standardisation of PPPs is a measure recommended by the World Bank, according to ProInversión.
Other law firms that participated in the international public tender to select a consultancy included Allen & Overy, Clifford Chance, Squire Patton Boggs and White & Case.
This was the second tender carried out to select a consultancy after the first process, for which bids were received last August, was shelved after a governmental court of auditors raised concerns that ProInversión had not followed all internal procedures for hiring external advisers.
The consultancy work will aim to select the best international practices to ensure successful PPPs, based on contract models in use in other countries, and which can be applied to the Peruvian model, in order to draw up a contractual guide and standard contract that can be implemented by ProInversión, as well as by project leaders and consultants, according to the investment promotion agency.
“This is an important milestone because it will allow us to have better structured contracts to speed up private investment in the country, making the pre- and post-award processes more efficient,” according to ProInversión’s executive director Alberto Ñecco.
He said that standardising PPP contracts will reduce the probability of needing to add additional clauses, reduce the time needed to prepare and finalise PPPs, and trim the costs of doing so.
