Research On Investment Control Of The Owner At Early Stage And Buy-back Period In Municipal Construction In BT Mode

With the rapid development of economy in our country, urban infrastructure construction is increasing constantly, the government can’t afford enough capital for it, and municipal projects slow progress have a series of problems are beginning to appear. BT (Build-Transfer) as a new construction model not only effectively reduce the financial pressure, but also improve the city infrastructure construction, therefore widely used in municipal infrastructure project. However, at present, our government has never promulgated any laws specifically for BT, which cause many troubles during the performance. Hard to control investment is one of those problems, so it is very necessary to do some research on it.Proprietor (namely BT project sponsors) mainly takes part in both the early stage of the project (project decision-making stage, project planning stage) and the buyback period, which is also the emphasis of this paper. See the below:(1) Through the study on municipal BT project systematically, it points out the position and role of the BT project owner, and analyses the status of the early stage and repurchase in the whole process of BT project. With the characteristics of "tight schedule, heavy task, complex environment, high social concern", the proprietor needs to seek a rapid method for investment estimation. In this paper, we use grey theory, which helps the proprietor control investment in the early stage. At the beginning, we select some engineering characteristics that are from those finished municipal projects, and weight them, then put them into a date table。And the samples of selected engineering correlation analysis.(2) Analyses the dispersion degree, and calculate the average value and standard deviation of each factors to determine the scope of weight value for the new project. Finally, we can figure out a new way to estimate the new project by using the grey theory. Through the research and analysis, Newly built road engineering research analysis of every factor that estimate interval for a band.(3) Through the discussion of the owner in the status and role of the repurchase of the stage of the BT project, we also study on the method of the repurchase of the total value, and analyses the composition. Applying the principles of engineering economics buyback model is constructed.(4) As a part of the repurchase price, building installation is determined by settlement audit stage. As for financial expense, it consists of loan interest and return on investment. Loan interest is calculated by the loan interest rate which is determined on loan contract. Return on investment is calculated by the rate of return on investment which is according to the characteristics of the BT project, and using the single factor arbitrage to calculate.(5) In order to combine the subject with the actual, we can through a practical case, using the proposed repurchase price calculation formula to calculate the final total repurchase price. It provides the application basis for engineering practice.