The Research On Repurchase Risks Of BT Mode In Large Infrastructure

Build-Transfer (BT for short) mode which is a new type of investment and financing construction mode is derived from Build-Operate-Transfer mode. The application of BT mode, not only alleviate the insufficient government construction funds and broaden the investment channels for the corporate or the folk capital, but also bring advanced management experience and improve the operational efficiency of the project, which can integrate effectively various kinds of resources of the capital, management, technology and market.For lacking of operation part, the BT project doesn’t have the ability to obtain future operating benefits. The investment cost and return of the BT project mainly depends on project repurchase. Once the repurchase failure, the investment contracting enterprise of BT project will cause great economic loss. Then, the repurchase risk management is particularly important for investment contracting enterprise of BT project.This paper which discusses it will be faced with the risks when the government repurchases the BT project, introduces the elements, implementation process and main participants of BT project repurchase, as well as BT repurchase provisions of our region. Based on the contrast of several common risk identification methods, the WBS-RBS method is used for identification of the repurchase risk of BT mode in large infrastructure, which break down a project from angle of the work and the risk respectively, then establish the WBS-RBS matrix and judge risk factors. On the basis of risk identification and because of the character of repurchase risk indicators of BT mode in large infrastructure and incomplete information the different evaluators propose are, it introduces the theory of gray system. This paper evaluates repurchase risk through construction of repurchase risk evaluation mode of BT project with grey system theory which combines the qualitative analysis and quantitative calculation, and it could be more accurate to analyze repurchase risk of BT project. At last, it analyzes BT repurchase risk of some Square by the expert survey and gray system theory.