收费公路PPP项目最低需求分析

Study on Minimum Requirements of PPP Project for Toll Roads

PPP模式广泛应用于收费公路建设中,增加了基础设施的有效供给。但后期规划建设的收费公路,财务效益相对较差,对社会资本的吸引力不足。首先对收费公路PPP项目的回报机制进行分析,提出最低需求测算的重要性;其次对两种常用表现形式进行对比分析;然后提出最低需求测算和最低需求风险合理分配的方法,以达到增强对社会资本的吸引力、降低政府财政支出风险的目的;最后通过一个简化算例进行了演算。

PPP mode has been widely applied to the construction of toll roads,which has increased the effective supply for infrastructure.However,being compared with those for former constructions,financial benefits for later planning constructions of toll roads are relatively worse which cannot attract adequate social capital.In this study,firstly the return on investment mechanism of the PPP project for toll roads has been discussed,and its two common manifestations have been comparatively analyzed.Then a method for calculating minimum requirements and reasonable risk allocation for them has been proposed in order to achieve the goal of reinforcing the attraction for social capital and decreasing government's financial expenditure risks.Finally mathematical calculations by using a simplified example have beenperformed.