ABSTRACT
This paper is in two parts. In the first part, it explores the role of the Financiers’ Certifier (FC) in transportation tunnelling projects and explains some of the key risks and issues that may be encountered during the construction of urban transportation tunnelling projects from the perspective of the FC. It explains the key duties when acting as the financiers’ eyes and the ears for technical aspects of such projects. The risks are discussed as to how the financiers perceive the risks and how they may be exposed if the risk eventuates. The paper explains the differences in the role from that of the Independent Certifier or Independent Verifier, and the interfaces between the borrower’s (Owner’s) obligations to the financier and to the contractor(s).
In the second part it again focuses on the perspective of an advisor to financiers and additionally covers the technical and risk management considerations in the planning, design, and construction of tunnels for remote hydropower projects. Many of the key risks and issues are similar for urban transportation tunnels and remote large scale hydropower tunnels, however the scale of these risks can differ and there are several very different and rather unique conditions in the remote hydropower project that financiers need to be aware of.
