2013, Volume 15, Issue 12
Strategic Study of CAE >> 2013, Volume 15, Issue 12
Exploration of PPP financing model for the cross-sea channel of the Bohai Strait
1. China Civil Engineering Society, Beijing 100835, China;
2. School of Civil Engineering, Beijing Jiaotong University, Beijing 100044, China
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Abstract
The construction of the cross-sea channel of the Bohai Strait is a great project which is benefiticial to our country and people. Diversification of investment channels,especially to attract domestic and foreign private capital,is an important way to raise funds for the cross-sea channel of the Bohai Strait. The two most critical shortcomings of build-operate-transfer (BOT) modle are overcomed by means of public-private-partnership (PPP) model. They are too long preparatory work for the project and great risks of investors and lenders. PPP model is superior to the BOT model,more efficient than BOT, and is more rational for allocation of risks. Financing success of PPP model for the project is greater. Moreover,government can grasp decision-making power and control power of the project in the PPP model. PPP model can be learned in the cross-sea channel of the Bohai Strait.
Keywords
traffic and transportation economy ; financing model ; cross-sea channel ; PPP
Figures
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References
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