A Case Study Of PPP Project Termination In W Expressway(Si Chuan Province Section)

In 2013,China began to vigorously promote the PPP mode,and the local governments also launched a large number of PPP projects.In recent years,the number of PPP projects and the amount involved has increased rapidly.However,due to the short time of PPP mode in China,the lack of theoretical research and practical experience and the unclear sharing of risks,many PPP projects ended in failure,which brought great losses to local governments and social capital partners.Every year our country will invest a lot of money in the construction of expressway,the highway generally involves a large amount,long construction period,involving many sectors,the introduction of PPP model,how to regulate the expressway project from feasibility study to every process finally completed,the completion of the project to improve the success rate of it is worth our consideration.Taking W Expressway(Si Chuan Provincial Section)PPP project termination as an example,this paper summarizes the reasons for the failure and draws the corresponding inspiration,hoping to provide experience for the construction of Expressway PPP mode in China.Based on the existing literature on PPP,this paper sorts out the connotation of PPP mode,and then analyzes the development process and current situation of PPP mode in China.This paper introduces the W high speed PPP implementation of the project background,project content,project investment,project financing and basic information about the project itself,but also the basic information on social capital,analyzes the problems existing in the process of project implementation process and the implementation of the project.The analysis shows the reason for termination of W high speed PPP project,one reason Chengdu Luqiao company performance decline,due to their own defects of corporate governance to the failure of the project to bear the main responsibility,on the other hand,government agencies in the selection of social capital,the problem has not introduced the risk sharing mechanism on the negligence of the project also died blame.Finally,the corresponding inspiration is obtained.When the country promotes the PPP mode,it is significant for the PPP project to learn from the W PPP project terminated lessons and inspirations,and to promote the promotion of PPP mode.