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Bennett, J and Ferry, D (1990) Specialist contractors: a review of issues raised by their new role in building. Construction Management and Economics, 8(03), 259-83.
Bon, R and Pietroforte, R (1990) Historical comparison of construction sectors in the United States, Japan, Italy and Finland using input-output tables. Construction Management and Economics, 8(03), 233-47.
Brandon, P S (1990) The development of an expert system for the strategic planning of construction projects. Construction Management and Economics, 8(03), 285-300.
Olomolaiye, P O (1990) An evaluation of the relationship between bricklayers' motivation and productivity. Construction Management and Economics, 8(03), 301-13.
Russell, J S and Skibniewski, M J (1990) An ergonomic analysis framework for construction tasks. Construction Management and Economics, 8(03), 329-38.
Tang, J C S, Karasudhi, P and Tachopiyagoon, P (1990) Thai construction industry: demand and projection. Construction Management and Economics, 8(03), 249-57.
Tiong, R L K (1990) BOT projects: risks and securities. Construction Management and Economics, 8(03), 315-28.
- Type: Journal Article
- Keywords: concession; financing; guarantee; risk; security; toll
- ISBN/ISSN: 0144-6193
- URL: https://doi.org/10.1080/01446199000000026
- Abstract:
There has been a growing trend in recent years for governments in many developing countries to palace major public investments, particularly for infrastructure projects, into the private sector. This has meant that governments look into private sector to finance projects using the projects’ anticipated revenues as security rather than relying upon a direct sovereign guarantee of the project debt. Many have adopted the ’Build-Operate-Transfer’, or BOT approach, so that the private sector have to operate the plant and transfer the ownership to the government often a specified concession period. However for BOT to succeed in any major privatized project, the host government cannot withdraw or adopt a passive role: It has to ensure the right political and commercial environments in which to advance the projects. This paper deals with the various guarantees and incentives that could be provided by the government. It covers the responsibilities and undertakings that the project sponsors could commit to in order to negotiate favourable concessions from the government and to raise financing that is so vital for the BOT model to be successful. The financing, political and technical risks are discussed and the techniques that could be used to have these risks covered are suggested to ensure a smooth project implementation.