Balancing Parties benefits and understanding the risks in PPP highway Projects
Public Private Partnerships (PPPs) have been increasingly used globally to procure highway projects. Participants in such projects come to project negotiation with different concerns and objectives. For example, private investors and their financiers seek to reap adequate returns on investment within a short timeframe in sufficiently stable environments. Government wants to maximize productivity efficiency, ensure the project achieves relevant quality, environmental standards and social objectives. Publics pay tolls and other charges for using the highway. Therefore, balancing different partys objectives are necessary. Based on review of existing highway concession contracts, this paper argues toll adjustment is the most important measure to balance project participants benefits during the contract concession period. Following this, the paper proposes toll adjustment should consider not only economic risks to protect investors benefit, but also service performance risks to ensure users interest. At last, based on literature review, risks with respect to toll adjustment were identified from private investors and users perspectives respectively.
PPP highway projects private investors users benefits risk
Li Jie Patrick X. W. Zou Cheng Hu
School of Civil Engineering, Nan Jing Forestry University Faculty of The Built Environment, The University of New South Wales Sydney School of Civil Engineering, Dong Nan University
国际会议
南京
英文
2452-2459
2009-10-29（万方平台首次上网日期，不代表论文的发表时间）