Deal flow is the key metric in the P3 market, and near-term prospects have never been better. The proprietary deal flow data collected by Public Works Financing on global P3 projects (see p. 24) show:

•            11 states have procurements underway for 12 projects whose design-build capital component together amounts to about $15 billion (see p. 24). All but three would employ availability payment debt financing.

•            Three social infrastructure P3s are moving toward RFQs. A fourth, the $400-million Indianapolis Justice Complex, will shortlist on March 4.

•            14 large rail, road and water projects in Canada may be bid in the next two years;

•            Further out, 14 projects are in the early stages of definition for a possible financial close sometime after 2016.

•            Unsolicited proposals for six P3 road and rail projects are in