The Financing Risk Evaluation And Research Of Highway BOT Project

Funds for the highway construction is in the status of financing difficulties and the main channel of financing is single, this paper analyzes the highway BOT financing mode based on departure from an investor point of view, to identify the risks that may affect the highway BOT project financing decisions of investors, and separately from the early stages of the project, the construction phase, operational phase and the transition phase risk analysis, by using gray fuzzy evaluation model for risk assessment, the BOT financing model for highway analysis and feasibility study, propose appropriate risk response measures, and propose policy recommendations for investors in highway BOT project.Firstly, this article by through the introduction of BOT financing mode, highway BOT financing mode, the highway BOT project financing way, summed up the financing model to adapt to the development of China’s highway construction needs, and there is its great advantage. As a basis for, from an investor point of view, the basic theory of highway BOT project is analyzed to explain the meaning and the risk of the formation mechanism of financing. By identifying highway BOT project pre-financing decision-making stage, construction stage, the operational phase, the transfer of risk faced by stage, establish a risk evaluation index system, summed up the necessity and importance of highway BOT project life cycle risk control. Then, according to the characteristics of the highway BOT project financing risks, this paper presents a financing risk gray fuzzy evaluation method in the highway BOT project, the selection of indicators to evaluate the risk analysis, the risk of the use of expert scoring method to determine the index weight, combining with the evaluation model for optimization such as AHP, whitening weight function.Finally, the current financing model has been adopted with the highway BOT project, use a case to analysis the established model, testing the model and prove the model is a scientific rationality verification, calculated by the results of the model and analyzing the results.Object of this paper is the highway BOT project financing risks, validated by research and risk analysis and modeling, the results were evaluated the risk controlling for investors that the highway BOT project is feasible provided suggestions.