A Study On Project Finance Management Of BOT In Expressway Construction In Hunan Province

With the reforming of expressway project construction management system, there are variable modes in construction of expressway project, which was invested by the state in the past. The principle followed is that the investor gets benefits and bears risk. Of which, BOT is a proper mode compatible with local conditions in China. According to the fact of construction of expressway project in hunan province, the fund is greatly insufficient because the enormous investment in construction of expressway project is surpass the finance ability of government of hunan province. It is necessary to choose the BOT mode to the construction of expressway project. The thesis studies the basic concept of BOT, analyzes the fact of construction of expressway project in hunan province, connotation, and using the theory of project finacing, we state the Asset Backed Securitization of BOT expressway project in hunan province. Main contents of the paper is as followings:The thesis presents BOT conception, existing conditions and problems in the process of application in expressway project construction in hunan province, on the basis of that, the thesis investigates the sources of different funds and composition proportion by using financing-frame theories and analyzes the cost of different configurations and seeks financing composition with the lowest cost. At the same time, the paper gives the risk indentification, risk evalutation and risk management. We further research the essentiality and accessibility of ABS (Asset Backed Securitization) of BOT expressway construction project in hunan province on the base of studying the principle of financing assets and running system, anlayse the risk of ABS, and give the detailed operation of ABS of BOT expressway construction project.In the process of study, the paper tries to combine the fix quantify with qualitative analysis and the BOT theory and the fact of BOT construction of expressway project in hunan province, which has a guidance significance on promoting BOT research of theory and the application of BOT construction of expressway project in hunan province.