Case studies of the return structure of urban underground comprehensive pipeline gallery PPP projects

ZHAO Guofu; WANG Shouqing

doi:10.16511/j.cnki.qhdxxb.2022.22.005

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Journal of Tsinghua University(Science and Technology) ›› 2022, Vol. 62 ›› Issue (2) : 250-258. DOI: 10.16511/j.cnki.qhdxxb.2022.22.005

SPECIAL SECTION:CONSTRUCTION MANAGEMENT

Case studies of the return structure of urban underground comprehensive pipeline gallery PPP projects

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Abstract

Public-private partnerships (PPP) play important roles in constructing and operating domestic urban underground comprehensive pipeline galleries. However, the return mechanism and the return structure are not well understood with little research on the key factors and the application of quantitative analysis tools. This article presents case studies of the return mechanisms and return structures of 71 domestic urban underground pipeline gallery PPP projects that are already operating. A stakeholder analysis shows the livelihood attributes of the pipeline gallery and enterprise interests. The return mechanisms and return structures are then analyzed using the principle of "substance over form" to analyze the key factors. Finally, a return structure model is presented for urban underground comprehensive pipeline gallery PPP projects based on the discounted cash flow and net present value (NPV)-internal rate of return (IRR) which can help the private party in bidding, contract negotiation, return rate monitoring and project renegotiation. This study should improve risk sharing and investment returns of urban underground comprehensive pipeline gallery PPP projects.

Key words

urban underground comprehensive pipeline galleries / public-private partnerships (PPP) / rate of return / case study / factor analyses

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ZHAO Guofu, WANG Shouqing. Case studies of the return structure of urban underground comprehensive pipeline gallery PPP projects[J]. Journal of Tsinghua University(Science and Technology). 2022, 62(2): 250-258 https://doi.org/10.16511/j.cnki.qhdxxb.2022.22.005

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