The IIB has been approached by Asseco CE seeking technical assistance for preparation of street lighting system upgrade project in Hanoi, Vietnam under concession/ public-private partnership (PPP) type for the City of Hanoi represented by the Hanoi City People’s Committee (City). To explore the feasibility and bankability of the Project, there was a need for a Consultant who would undertake due diligence on the level of preparation and risk allocation in a PPP transaction with the City to the extent required to undertake the tendering out and contracting of the Project so that it is compliant with best international practices. IIB selected Aspiro to undertake the assignment.
Aspiro consolidated the project, helped catch up with legal and administrative requirements, secure remaining financing for the project, and readied the documentation and stakeholder expectations for multiple outcomes of the negotiations, significantly reducing the risk of project failure and cancellation.
“Aspiro provided all services in satisfactory quality and on time, contribution of Aspiro was instrumental in keeping the project alive and substantially advanced its preparation, let to mobilizing local partners and government officials to support the project, and resulted in all necessary administrative steps to be taken toward formal project approval by the City. We hope to continue our cooperation with Aspiro in future projects.”