The study shows that there have been major drawbacks in the evaluation and implementation
process of PPP projects as influenced by some important actors in India. With the use of cross
case study for in-depth investigation, some patterns have emerged from the study that forms the
basis for suggestions for improving PPP implementation. First, the independent regulator played
an important role in protecting lenders‘ interest by scrutinising the capital expenditure of port
terminals for the purpose of tariff setting. Such an authority is necessary for regulating PPP
projects. Second, unrealistic traffic projections resulted in cancellation of tendering and tariff
setting issues in the operation phase. We suggest that PPP stakeholders insist on realistic forecasts
as a means of preventing projects from ending in failures. Third, concessionaires could not
achieve the required financial closure within 180 days (plus a grace period of 120 days) from the
date of the agreement due to poor project preparation at the pre-bid stage. We therefore suggest
that PPP stakeholders devote sufficient time to pre-project planning as a means of ensuring
success in early project closure. And the fourth commonality shows that three cases have
successfully demonstrated the ability to deliver value for money in terms of time efficiency, cost
overrun anticipation, traffic performance, attractive interest rates and tenor of debt. These lessons
can be learned by other developing economies. The study also shows that Indian government has
successfully developed a PPP toolkit based on the experience from previous PPP projects.