The Study On Key Risks In Concession Pricing Of Highway BOT Projects

Highway is one of important infrastructures that can support sustaining and steady development of the national economy. It can accelerate optimization of the industrial structure and development of regional economy. So many local governments are attaching importance to the construction of highway. As an important financing method, highway can make up effectively the gap of fund used in highway construction. The mode of BOT has been used in highway construction more and more.Risk management and concession pricing are core contents of implementing highway BOT project. Because the risks that have complicated relationship between them can't be measured directly, SEM has been selected as the research method. A scale for measuring the influence that the risks impose on concession pricing has been developed. By the method of SEM, the conclusion has been educed that the risk of completing project influences the concession pricing of the highway BOT project distinctly, the risks of force majeure, law and marketing have relatively remarkable influence on the concession pricing of the highway BOT project and the risks of political environment, managing highway and financial environment have smaller influence. The extent of influence that risks exert on the concession pricing has been studied quantitatively. This can help all the partners of BOT projects know the risks well.At the base of quantitative analysis result and practical circs of all the risks in our country, That how does these risks influence the concession pricing has been analyzed. This is helpful for understanding the risks deeply and roundly and establishing reasonable concession pricing at the base of fair share of risks, and is useful for promoting the successful development of highway BOT projects in our country.