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

Highway is one of the important basis to support national economy developing continuously, stably and healthily. BOT can attract the foreign or folk capital, supplement the capital of government infrastructure, transfer debt and risks, quicken the construction of infrastructure, and advance hugely the economy developing structure of the local government. Most researches about BOT refer to the BOT risks ,but only analyze and classify the risks generally. But the allocation researches of the risks those influence highway price concession are not enough either in practice or in theory, which is one of the main reasons of why the success proportion of the highway BOT projects is low. Basing on realizing the risks of BOT projects and establishing risk allocation mechanism is a necessary choice of replying the risks and assure the profit of the partners. Therefore, it's very exigent and necessary to study the risk allocation of the highway BOT projects.By analyzing 12 highway BOT projects(10 domestic projects and 2 overseas projects) all around the world, including bridges and tunnels, this paper tries to find the commonness of controlling the risks.After analyzing the reasons of the risks generating,the controlling measure,the controlling effectand the loss when the risk haven't been controlled well. sets up the allocation matrix of the risk controlling, then advances effective controlling measures.As well,by groping demonstration research, it puts forward a model of the ability of companies' burdening loss basing on some related theory researches and the hypotheses of the research, then exploit the scale. After surveying the exporters and practitioners of highway BOT projects,and using step regression in SPSS, the hypotheses are validated, and the model of the ability of companies' burdening loss is set up. Also,it sets up the allocation matrix of the loss burden between companies and governments.At last, basing on the allocation patterns of risk controlling and loss burdening, it sets up the whole allocation pattern of highway BOT projects risks, which provides the companies and governments of academic foundation of confirming the risk allocation plan when negotiating. Also it establish the basis of price concession mechanism of highway BOT projects.