Research On Investment Risk Of Expressway Project

With the rapid development of China's economy and the acceleration of urban-rural integration,the construction of infrastructure roads has been continuously improved,and investment in highway infrastructure has also increased.As an infrastructure,the expressway is also a representative of social and economic development.In recent years,domestic highway projects have become increasingly market-oriented,and the forms of diversification and the development model of the main body have gradually been established.Among them,the most typical one is the BOT+EPC mode.Because the highway project has the characteristics of long construction period,rich professionalism and complex coordination,it is especially important to study its investment risk control scheme.Based on the systematic summary of domestic and international research results on highway project investment risk,combined with the characteristics of expressway project,this paper proposes that the risk of highway project investment under BOT+EPC mode mainly includes four risks,namely government risk.,financial risks,irresistible risks and corporate risks.The evaluation process of using AHP to judge the relative size of various risks is further elaborated.Based on the above theoretical basis,this study takes the investment of YB expressway project as a case study,and comprehensively analyzes the risk factors of the investment in YB highway project under the BOT+EPC mode in government risk,financial risk,irresistible risk and enterprise risk.The expert survey method combined with the analytic hierarchy process is used to determine the weight of each risk factor.Finally,the investment risk of the YB expressway project under the BOT+EPC model is government risk>financial risk>irretentive risk>enterprise risk.After that,the risk factors were sorted according to the risk comprehensive weight according to the above methods,and the five factors that should be the key control of the YB highway project government intervention risk,government credit risk,supervision system risk,financing risk and natural disaster risk were determined.Risk factors.According to the risk management and control method in the basic theory of risk management,combined with the actual situation of the YB expressway project,the five major risk factors suggest that the government should strengthen credit supervision,improve the legal system,broaden and explore new financing channels and models,and face When the risk is irresistible,do a good job of pre-inspection,combined with the construction of the climatic environment,the enterprise should improve the quality of service personnel and service quality to promote the effective financing of expressway projects.This research tube proposes the main analysis of the highway project investment and the corresponding risk management and control measures.This not only has certain theoretical guiding significance for risk management and control,but also has been applied in the highway project investment,which can provide some reference for the risk management and control of such projects.