Research On The Investment And Financing Risk Management Of PPP Project In Water Conservancy Irrigation Project

"Twelfth five-year"period,the ministry of water resources,ministry of finance,the national development and reform commission in March 2015"about encourage and guide the social capital to participate in major water conservancy project construction operation of the implementation opinions"proposed expanding the area of social capital to enter,pulled open the prelude to the social capital into the water conservancy industry,while China's water conservancy project made a historic leap in the 12th five-year period,but based on our country's economic growth under the new normal,national finance and local finance fund pressure,has restricted the progress of our country's water conservancy project."Much starker choices-and graver consequences-in"is a key period of the water conservancy industry development,a total of approval"much starker choices-and graver consequences-in"172major water conservancy engineering,each 2015 approval of hydraulic pilot PPP projects on track will also be on is the construction of water conservancy projects provide practical guidance on the basis of the PPP project,must water the PPP construction boom,meet people's expectations about the construction of water conservancy infrastructure projects.The project of irrigation project is a supporting project for water control project,and the whole function of water conservancy project is put into play.After the completion of irrigation area,it will greatly improve the agricultural production conditions in irrigated areas,increase the irrigation rate of farmland and increase the income of local farmers,which is of great significance to the implementation of the national food security strategy.At the same time,to provide water source protection for the economic and social development in the new era of our country,to meet the needs of regional water consumption,to alleviate the conflict between urban and rural areas and to promote the stability of local communities.However,the investment of PPP projects in the irrigation area is high,the construction cycle is long and the risk factors are more.In order to ensure the smooth implementation of the project,the owners will face great difficulties and challenges in the actual operation.For water conservancy irrigation area the PPP project investment and financing risks,to conduct a comprehensive and detailed identification,establish a scientific and reasonable,feasible operation risk evaluation and risk sharing system response to water conservancy irrigation area of investment and financing risk,is the focus of members of the society from all walks of life.Therefore,this paper mainly studies the investment and financing risk management of PPP projects in the irrigation district,and aims to contribute to the development of the irrigation area in China.First of all,the paper expounds the research background,the specific meaning,domestic investment and financing risk management research status,especially the research status of hydraulic engineering project investment and financing management,is introduced in this paper,we study the objectives,ideas and methods;Secondly,an overview of the water conservancy irrigation PPP mode basic concept,operation,investment and financing risk and risk management theory,water conservancy irrigation area,the PPP project now and the future development trend,to the subsequent development of paper lay theoretical tone;Finally,choose the Delphi method to draw the result of risk identification using analytic hierarchy process?AHP?to determine the weight of irrigation area water conservancy investment and financing risk factors,and on this basis,using gray clustering method based on the endpoint of the triangle whiten function of gray evaluation method will be dispersed into the risk evaluation of information processing of evaluation quantity of different gray class to draw a project investment and financing comprehensive risk grade and the corresponding risk indicator of investment and financing risk.In risk sharing,based on the result of risk identification and risk assessment,it is concluded that water conservancy irrigation PPP projects based on different risk sharing mechanism,the main responsibility and the evaluation results in high risk probability and loss serious index is put forward in the face of the method.Through the scientific investment and financing risk management method to solve the problem of the investment and financing risk management of PPP mode in the irrigation district,and apply the theory to the second phase of LF irrigation project.The research results show that the comprehensive risk level of the PPP project in the irrigation area of water resources hub is level II;The risk index of the risk index of the PPP criterion in the irrigation area of the water resources hub is X₁,the credit risk X₃,the completion risk X₄ is the third type of risk,and the manager needs to strengthen the safeguard measures;Financial risk X₂,operating risk X₅,political risk X₆,environmental risk X₇ is the second risk,and the risk is small,and the manager has the need to implement the safeguard measures.Financial risk,and risk criteria layer;Financial net present value?NPV?X₁₂,government credit X₃₁,project delay risk X₄₁,construction project cost over expenditure risk X₄₂2 high risk weight,high risk level,need high attention;Interest rate risk X₂₁,operation management risk X₅₂,political decision error/lengthy risk X₆₃,environmental protection risk X₇₁,high risk weight,high risk comprehensive clustering order need to be taken seriously;the government need to financial net present value,government credit risks,political policy decision error risk?long?attaches great importance to and adopt the combination of risk retention and risk control mode,reduce the risk of investment and financing;Social capital should be attention to the interest rate risk,management risk and take the way of risk transfer,risk control,reduce the risk of investment and financing and government&social capital party need to delay the project risk,construction risk of cost overruns,pay special attention to environmental protection risks and risk prevention and risk control,on the basis of reasonable risk sharing,reduce the investment and financing risk,avoid loss.