Glossary

EPC

Engineering, procurement, and construction of facilities and equipment

O&M

Operations and maintenance of facilities and equipment

PPP

An acronym for public-private partnership, PPP is a concept encompassing various ways for the private sector to participate in the provision of public services. PPPs are designed to increase efficiency and improve services through the use of private sector funds, technologies, know-how, and management capabilities.

PFI

An acronym for private finance initiative, PFI is a way of using private sector funds and know-how to comprehensively carry out the design, construction, operation and maintenance, and repair of facilities.

DBO

An acronym for design, build and operate, DBO is a way of using private sector know-how to comprehensively carry out the design, construction, operation and maintenance, and repair of facilities.

DB

An acronym for design and build, DB is a way of using private sector know-how to comprehensively carry out the design and construction of facilities.

SPC

An acronym for special purpose corporation, an SPC is a company set up for the purpose of engaging in specific operations.

PFI Act

Act on Promotion of Private Finance Initiative

Concession

A method of granting a private company the right to operate a public facility that collects fees from its users while a public entity continues to retain ownership of the facility

WBC

An acronym for Water Business Cloud, WBC is METAWATER's unique information and communications platform for sharing information in real time and analyzing/utilizing the information gathered.