高速公路PPP模式投资评估研究

摘要

As an important financing way, PPP mode can solve the problem of project funds shortage and single financing channel, so it has been widely applied in the field of transportation in China. Expressway project under PPP mode involves many participants, and its capital structure is complex, and its investment risk is big, so the correct and reasonable investment appraisal is particularly important. In this paper, three expressway projects of Songkun, Jiangxi and Jingwei are evaluated in the aspect of traffic volume forecast, investment estimation and economic evaluation. The results show that the investment benefits of Songkun and Jiangxi projects are good, which are easy to carry out the PPP mode, while the investment benefit of Jingwei project is poor, which is hard to carry out the PPP mode.%PPP模式作为一种重要的融资方式，能够解决项目资金短缺、融资渠道单一的难题，因而在我国交通领域得到了广泛应用。以PPP模式运作的高速公路项目涉及参与者众多、资金结构复杂、投资风险大，正确合理的投资评估显得尤为重要。文中从交通量预测、投资估算和经济评价等方面分别对嵩昆、江习和张石三个高速公路项目进行投资评估，结果表明：嵩昆和江习项目的投资效益较好，容易推行PPP模式，而张石项目的效益较差，不利于PPP模式的推行。