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The second structural failure mode of PPPs. Concession periods are designed around private capital return horizons (typically 20–30 years for infrastructure equity), creating artificial discontinuities bearing no relation to the mission horizon of the public asset being financed. The temporal logic of private capital and the temporal logic of public missions are not aligned.
A transport network requires capital continuity across century-scale infrastructure cycles, but a concession expires after twenty-five years — optimised for equity returns, not infrastructure lifecycle. CADA addresses this by making the instrument's termination logic continuity-driven rather than return-driven.
CADA Section 2 (citing Ghadamian 2025a)