I propose to take Questions Nos. 312 and 317 together.
During the life of the PPP contract (typically 25 years after construction), a portion of the unitary payment is adjusted annually by an inflation factor to reflect changes in a general inflation index specified in the contract (the Consumer Price Index or the Harmonised Index of Consumer Prices). This indexable portion represents costs incurred by the PPP company over the operational period (e.g., facilities management, maintenance, and lifecycle costs); it excludes construction and finance costs. As part of the annual indexation process, the indexable portion is adjusted by the actual inflation rate over the preceding 12-month period. The indexable portion for each project depends on the specific features of the project, i.e., the operational period costs as a proportion of the total costs will differ by project. For the PPP projects procured by the NDFA up to 2024, the average indexable portion is circa 34%.