水利工程PPP项目中社会资本方财务评价的关键因子研究

Key Factors in the Social Capital Side Financial Evaluation of Water Conservancy Public-Private-Partnership Projects

根据水利工程具有公益性强、投资规模大、建设周期长、盈利能力弱等特点,对PPP项目的财务指标测算需做相应改进和完善。经分析研究,尝试从社会资本方的视角和具体的技术指标以分析和提炼水利工程PPP项目财务评价的关键因子,提出了资金来源、收入测算、利润分配、施工利润、现金流入计算方式和资产确认类型及折旧基数等关键处理方法,为科学进行项目识别、筹备以及采购提供技术支持,有助于政府正在积极推动的水利工程PPP发展模式的实施。

Water conservancy projects are usually of certain characteristics such as strong public welfare, big invest- ment, long construction period and weak profitability. Thus, special attention should be given to the financial evaluation of water conservancy public-private-partnership （PPP） projects. The key factors in the water conservancy PPP projects are analyzed and determined from the social capital angel. Calculation methods for the funding sources, income estima- tion, profit distribution, construction profits, and cash inflows, and critical processing methods for the asset type and de- preciation base recognition are proposed. It could be useful technical support for the scientific identification, preparation and procurement of the projects, and also helpful for the development of the PPP mode. tors