Study On Economic Feasibility Evaluation Of BOT Expressway Project

Highway traffic, especially expressway transportation, is a factor of consequence in national economy. Greater progress will be achieved for our national expressway construction in recent years, the contradiction between transportation supply and economic demand is still quite obvious. Our country will speed expressway constructon during the eleventh Five-Year Plan and a rather long time in future. However, the fund shortage caused by the expressway development has become the choke point that restricts the development of expressway construction industry. How to raise funds efficient and safet for building road, especially for expressway construction, has becomed one of the most urgent problems currently.BOT financing pattern, which is a relatively successful and experienced pattern in foreign countries, to some extent, it has achieved the triple win situation for the government of the project is located, the general public, and the investors. Our country has tried to use this pattern and has obtained some experience. After the reform of reading economic system, most expressway construction projects in our country will have a prosperous income prospect and be suitable to the construction and operation of the BOT financing pattern. The Tong-Xuan Expressway in Anhui province is invested and built right against the background, which is the typical reading project through BOT financing pattern in our country.During the research of the feasibility of BOT expressway project, this paper begins with introducing the current situation of domestic and foreign highway constructional projects built through the BOT financing pattern, and also expounds the BOT financing pattern, including the concept of BOT, the working routine, and the features of operated condition. Moreover, accounding to the fundamental financial method and the flow for the national economic evaluation, this paper has analysed and summarized systemally for the economic evaluation system of expressway projects, and concretely analysisd the BOT project of Anhui Tong-Xuan highway with relative project financing analytic method. It carries out a national economic evaluation on this project from the macroscopical aspect (the country and social aspect). On the other hand, it analyses the economic feasibility of this project from microcosmic aspect (the standpoint of the project company aspect). From these bases, this paper distinguishes all kinds of riskes which exists in this project, choose some relative indexes accounting to economic evaluation and financial result, as well as analyses and evaluates this project by using catastrophe theory, and offers preliminary methods and strategies for project risk control in BOT pattern.