Study On The Decision-making Of Concession Period For BOT Project In Waste Incineration Power Generation

The objective's interests of the project is an important factor affecting the concession peiod of BOT(Build-Operate-Transfer)project.In recent years,BOT(Build-Operate-Transfer)model gradually gained the favor of Governments and social capital for its advantages of alleviating financial stress,improving management and operational efficiency,promoting technological innovation and so on.BOT model is being widely used in waste incineration and power generation project.More and more cities are actively using BOT model to construct and operate waste incineration and power generation project.However,in the process of project implementation,the situation of renegotiation,the termination of cooperation often damage the interests of the governments,social capitals and the public.As one of the core issues in the BOT project,Whether the concession period is reasonable decided has a direct impact on the interests of the governments,social capitals and the public.Under this circumstances,it is necessary to discuss the decision of concession period making of waste incineration and power generation from the perspective of the interests of the subjects.This paper uses the stakeholder theory and the theory of public goods to analyze the intension and essence of stakeholders of waste incineration.Combined with the characteristics of waste incineration and power generation projects,analysis the interests of stakeholders in the projects.Establish a multi-objective decision model of concession period based on the demands of the interests of the stakeholders.First of all,according to the stakeholder theory,clarify the main-part status of the government,social capitals and the public in waste incineration power generation project.Based on the theory of public goods,the waste incineration power generation project has the characteristics of economic and public welfare,which make contradictions between the main stakeholders.Clarify the principles and procedures that should be followed in the concession period decision by the modern decision theory.Secondly,analysis the interests of the government,social capital and the public in the waste incineration and power generation projects.Clear the main interests in the concession period decision.Thirdly,quantify the interests of the government,social capital and the public,establish a multi objective decision making model based on interest demands.Finally,select the representative example-TongXing waste incineration power generation BOT project to instance demonstrated.Ultimately determine the reasonable concession period based on comprehensive consideration of government,social capital and public interests and to provide a reference for the operation of the project.The paper concludes that:(1)government,social capital and public are the main body of BOT project of waste incineration power generation,and the main body is the partnership.(2)Under the premise of ensuring the normal operation of BOT project,the net profit value of social capital is the largest net present value.The government's interest target is the minimum expenditure,and the public interest goal is the minimum environmental cost.(3)18 to 22 years is to make the parties to the interests of the parties to achieve a balanced target of a reasonable period.The paper argues that the concession period is one of the core terms of the concession agreement,and its rational formulation is not only beneficial to the interests of the parties to the project,but also to realize the effective operation of the project.