Problems And Countermeasures Of BOT Mode In Expansion Project Of Cheng Wen Qiong Expressway

With the continuous development of social economy and the change of people’s life style,China’s highway construction is developing continuously and is entering a new period.On the one hand,new highway projects are increasing day by day,and the national highway network is constantly densified and improved.On the other hand,it is gradually becoming a trend to transform the existing highway,Go hand in hand with the new expressway project.In recent years,with the rising cost of expressway construction,coupled with the characteristics of large investment,long return period and high management requirements,it is very difficult for the government to invest in expressway construction by itself in terms of financing.The introduction of social capital and advanced project management experience to implement expressway project construction is to promote the innovation of expressway project investment and financing It is an effective way to speed up the development of highway construction and reduce the pressure of government investment and debt.In order to encourage social capital to participate in expressway project construction,the state and local governments have issued a series of policies to encourage the municipal(state)governments to adopt BOT mode to solve the problems of financing difficulties and lack of management experience in expressway construction.Since the construction of qiongming expressway,the first BOT Expressway in Chengdu,was started in 2007,BOT mode has achieved good results in new expressway construction.However,it is difficult to implement BOT mode in some high-speed expansion and reconstruction projects,such as the income period cannot be extended due to policy reasons,the selection of social capital is difficult,and the management of new and old investors is hindered.At present,the research on BOT mode of expressway project mainly focuses on investment and financing channels,risk sharing,income distribution and other issues,while the research on implementation procedures is less.Therefore,it is of great significance to carry out special research on policy issues of expressway expansion and reconstruction with BOT.This paper takes Chengdu Wenzhou Qiongzhou expressway,which is currently congested and undergoing capacity expansion and reconstruction,as the main research object,and makes an in-depth study on the problems existing in government capital financing,social capital side selection,management overlap,income distribution and other aspects of capacity expansion and reconstruction of Expressway by adopting BOT mode,This paper fully discusses the problems existing in the BOT mode and its extension mode of Chengdu Wenzhou Qiongzhou expressway,such as the obstacles in the selection of investors,the inability to extend the charging period,and the inability of the charging unit price to meet the investors’ expectations.It makes a detailed analysis on the causes of the problems,and then makes a supplementary discussion on the problems through interview research and similar case analysis.Finally,it puts forward some suggestions on improving the policy blank,improving the management system,and improving the quality of the project Establishing a correct view of political achievements,strengthening supervision and management and other countermeasures and suggestions are conducive to the optimization and adjustment of BOT mode in the implementation process of expressway expansion and reconstruction in the future.At the same time,it provides some reference for similar BOT projects in other industries to overcome policy obstacles.