Shizuoka prefecture has selected PwC Advisory as its advisor to look into using a public-private partnership (PPP) for a seaside park development project, a prefecture official told Infralogic.
“We are going to sign a contract [with the winner] by the end of June,” said the official. The winner defeated two rival bidders, said the official, without giving their identity.
The prefecture is planning to build a baseball stadium and other facilities inside the 36ha Enshunada Kaihin Park in Hamamatsu city, central Japan.
During the assignment until 15 March 2024, the selected advisor will have to calculate how much the PPP model will help scale down the public financial burden. The winner will also have to carry out demand forecasts for the new baseball stadium to gauge the most suitable size and structure of the new facilities.
The prefecture has presented about a dozen options for the new stadium. One of them with a roofed stadium is estimated to cost JPY 37bn (USD 267m).
In addition, the local authority has decided to develop the area surrounding the new JPY 14bn stadium. The area will include a second, roofless baseball stadium, sports and recreational facilities.
