The business entity with which an owner enters into an agreement for the delivery of services for a specific project using a public-private partnership (P3). The Project Company has full responsibility for design, construction and, typically, operations and maintenance. P3s are unique: they often include some form of short- or long-term financing – a combination of equity invested by the project company or its sponsors and debt sourced from third parties. The Project Company is sometimes referred to as the special-purpose entity or special-purpose vehicle.
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