The Application Of BOT In Harbin Ring Highway Northeast Section And Countermeasures

Highway is one of the essential infrastructures that sustained, stable and healthy .As China's economic construction and the continuous development, the existing level of infrastructure construction and economic development is very difficult to adapt to the requirements, the highway construction lagging behind is especially prominent, at the time national contradiction capital supply and demand with difficult to alleviate, BOT financing mode in highway construction could provide us with a new solution of funds.In this paper, taking Heilongjiang Provincial Highway projects financing for the background, research on the current existence in a variety of financing methods at home and abroad, including bank loans, bond financing and equity financing, BOT, ABS, as well as industrial investment fund. Through analyzing the pros and cons of various financing models and combining in Heilongjiang Province of the actual situation in the current, at the conclusion of BOT projects successful experience at home and abroad , identify suitable Harbin Ring Highway Northeast Section construction financing model-BOT financing mode.Through the use of economic evaluation methods, analysis and measured financial net present value (FNPV), the financial internal rate of return (FIRR) and financial investment recovery period (P_t), as well as three indicators of profitability and capital investment margins , and conducted sensitivity analysis. The results show that the ability of this project to resist risk is general, repayment capacity is general, we need to strengthen the management to enhance the ability to resisting risks.Only in this way that meet the basic conditions for the success of the project; to be a investors and financial institutions win-win project. Then combine the characteristics of BOT highway projects, argues Harbin Ring Highway construction risks existing. On this basis, qualitative analysis and quantitative analysis, defining risks , Harbin Ring Highway BOT financing model ,the risks belong to "small risk" range; noting Harbin Ring Highway has some risks of the BOT financing. At the same time, pointed out that the BOT financing model in Harbin Ring Highway construction problems and applications barriers of these issues and obstacles, propose some solutions to problems and the countermeasures .In this paper, careful analysis and summing up of BOT Harbin Ring Highway, will not only help to continue our good construction mission, but can also do a good job in the future BOT project financing methods reference , Heilongjiang Province for the construction of multi-channel to raise funds, do a good job in providing infrastructure construction experience to draw on.