The justifiable demand of the operator for a reasonable return on investment necessarily
requires that it have the right to exploit those investments for a sufficiently long period of
time. The above-mentioned characteristics generally mean that an operator’s early withdrawal
from a project would have substantial negative financial consequences. In some cases, though, a
long-term commitment by the operator may also become a source of concern to the concessioning
authority. It is therefore in the interests of both parties to seek a clear and stable legal
arrangement by