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Research on Risk Management for BOT Financing Project in Overseas Hydropower Plants

Author: YangXiaoDan
Tutor: LvXianZuo；LiWuLin
School: Southwestern University of Finance and Economics
Course: MPAcc
Keywords: Overseas Hydropower Station BOT Project Risk Identification Risk Analysis Risk prevention
CLC: F426.61;F426.91
Type: Master's thesis
Year: 2008
Downloads: 247
Quote: 1
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Abstract

The BOT Financing is the 1970s, the rise is an important mode of financing for large and medium-sized projects in infrastructure, energy, utilities, oil and mineral exploitation. Outputs of the project in order to ensure that it can be obtained in less capital loan amount much larger than the capital. At present, overseas investment by way of BOT financing has gradually become involved in international project contracting, a trend in the international market, and are increasingly being used in the construction of infrastructure projects in developing countries, including the construction of large hydropower projects. Construction projects under the BOT financing is called \The core of the problem. Risk of BOT financing projects, especially in overseas BOT financing hydropower project risk exists a certain degree of particularity, its characteristics, effects, and management tools with domestic take ordinary financing hydropower construction projects vary. At the time of the study, in addition to the analysis of the feasibility of the project from an economic point of view, the regional environmental project which requires a combination of comprehensive analysis of project risks. If the only reference to the the domestic project risk evaluation model to analyze overseas BOT project, is obviously incomplete and not objective. Therefore, based on the theory of BOT financing and risk management theory, combined with the investment in environmental analysis of the project site and the project itself, industry analysis, and reference author has worked of Georgia Kaduli Hydropower instance, using the capital asset pricing model theory with practice overseas BOT hydropower financing project risk management issues, a more comprehensive and in-depth research. This article first introduced the BOT financing a large number of international engineering contracting market, becoming necessary to participate in international competition, trends in the status quo. While introducing the theoretical basis of the analysis of this article, the concept of BOT financing, the development process, the financing process, the unique characteristics of BOT financing projects and research on domestic and foreign research status and risk management of BOT Project topics The practical significance introduction. Recognize overseas the BOT financing of hydropower project and the differences of the ordinary domestic financing of hydropower projects overseas BOT hydropower financing project risk identification, analysis of the sources of risk, risk characteristics and risk factors, combined with hydropower unique industry characteristics, divided into risk investment environment risk and industry risk two categories. In this chapter also introduces the case of hydropower projects in Sichuan Electric Power Import and Export Corporation to invest in Georgia Khadori trouble encountered unforeseen political risks of the project implementation process, and to recognize the economic feasibility of the project prior to the commencement of analysis is necessary other than the stage of the external environment for investment risk analysis is necessary financing projects overseas hydropower BOT. Risk identification and classification based on the qualitative analysis of the environmental risks faced by the investment and industry risk Khadori Hydropower case of trouble, especially for the success of overseas BOT projects have a decisive influence on the political risk and support the role of the host government focus, the meantime recommended Flanders index analysis and Del fee assessment methods. And quantitative manner using a cash flow model to study the project's economic strength, sensitivity analysis of the project on the impact of various factors, and quantitative indicators of project risk evaluation. Khadori hydropower projects in economic data throughout the risk analysis process, which runs through the basic information as a Case Study. Clear a major risk and its level in the project investors, overseas BOT hydropower project investment environment risk and industry risk response and prevention measures, in particular, appear at different stages of political risk prevention focus Finally, the construction of risk prevention policy recommendations and proposed preventive measures; The full text is not simply analyze the risk of BOT financing from the direction of economic strength, or just from the perspective of qualitative analysis of the risk of overseas hydropower project. But comprehensive consideration of these two aspects, both qualitative and quantitative combine both consider project financing through BOT basis, also consider the project is the construction of hydropower stations in the overseas investment environment and industry environment characteristics, throughout the project implementation throughout the different stages in the emergence of a variety of risk conducted a comprehensive analysis on the different risk management and prevention measures targeted. Full use of the case of the of Georgia Kaduli hydropower project, the integrated use of the research results of the article, the theoretical and practical combination of progressive empirical research.

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