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Akintoye, A and Fitzgerald, E (2000) A survey of current cost estimating practices in the UK. Construction Management and Economics, 18(02), 161-72.
Austin, S A, Baldwin, A N, Baizhan, L and Waskett, P (2000) Analytical design planning technique (ADePT): a dependency structure matrix tool to schedule the building design process. Construction Management and Economics, 18(02), 173-82.
Bresnen, M and Marshall, N (2000) Partnering in construction: a critical review of issues, problems and dilemmas. Construction Management and Economics, 18(02), 229-37.
Dainty, A R J, Bagilhole, B M and Neale, R H (2000) A grounded theory of women's career under-achievement in large UK construction companies. Construction Management and Economics, 18(02), 239-50.
Goh, B-H (2000) Evaluating the performance of combining neural networks and genetic algorithms to forecast construction demand: the case of the Singapore residential sector. Construction Management and Economics, 18(02), 209-17.
Love, P E D and Li, H (2000) Overcoming the problems associated with quality certification. Construction Management and Economics, 18(02), 139-49.
Pietroforte, R, Bon, R and Gregori, T (2000) Regional development and construction in Italy: an input-output analysis, 1959-1992. Construction Management and Economics, 18(02), 151-9.
Smith, S D, Wood, G S and Gould, M (2000) A new earthworks estimating methodology. Construction Management and Economics, 18(02), 219-28.
Sobotka, A (2000) Simulation modelling for logistics re-engineering in the construction company. Construction Management and Economics, 18(02), 183-95.
Wang, S Q, Tiong, R L K, Ting, S K and Ashley, D (2000) Evaluation and management of foreign exchange and revenue risks in China's BOT projects. Construction Management and Economics, 18(02), 197-207.
- Type: Journal Article
- Keywords: BOT; currency convertibility risk; foreign exchange; risk; management
- ISBN/ISSN: 0144-6193
- URL: https://doi.org/10.1080/014461900370825
- Abstract:
China is actively investigating ways to introduce project financing, specifically through the build-operate- transfer (BOT) scheme to meet the needs for the country’s infrastructure and to be attractive to foreign investors and lenders. The advent of concession agreements, backed by new BOT laws, will be a positive move forward to achieving project-financed infrastructure projects. There are thus opportunities especially in the power sector for foreign investors. However, it is important to identify and manage the unique or critical risks associated with China’s BOT projects. This is especially so after policies were introduced in late 1996 when the first state-approved BOT project, the US$650 million 2 x 350 megawatt (MW) coal-fired Laibin B Power Plant (Laibin B), was awarded. They include a competitive tendering process and 100% foreign ownership of the operating company. This paper is based on the findings from an international survey on risk management of BOT projects in developing countries, with emphasis on power projects in China. It discusses specifically the criticality of foreign exchange and revenue risks which include exchange rate and convertibility risk, financial closing risk, dispatch constraint risk and tariff adjustment risk. The measures for mitigating each of these risks are discussed also.
Wong, K-C and Walker, A (2000) Property rights implications of public-private joint ventures. Construction Management and Economics, 18(02), 131-8.