项目融资在水利建设中的应用分析

分析项目融资在水利建设中的适用性,提出水利项目融资的基本要求,并就投资者直接安排项目融资、投资者通过项目公司安排项目融资、BOT、TOT、ABS等目前比较常用的融资模式在水利项目建设中的运用提出建议:供水、水利旅游、水产养殖等项目适用投资者直接安排项目融资模式;水电项目适用投资者通过项目公司安排项目融资模式;主要为筹集资金的项目,可选择以内资为主的BOT融资模式;为引进新技术、改善和提高项目管理水平的项目,可选择以外资为主的BOT模式;灌区改造、病险水库除险加固及其他水管工程改造项目适用TOT项目融资模式;ABS融资模式只能作为融项目建设的辅助手段。

Application of project financing in water resources construction

As one of the important infrastructures,water resources construction is lack of financing.Project financing would be an effective way to solve a country's credit difficulty on capital-intensive projects,by which the project asset would be mortgaged for the loan and the cash flow in the future from the project would be expected to payback the loan.Since the 1980s',various project financing tools have been gradually introduced in China,especially in recent years.Through the analysis of the characteristics of water resources projects,this paper indicates that the project financing should be used more widely in China.However,the project financing is not suitable for all water resources projects. The characters of projects suitable for project financing model are distinguished in the paper.Some suggestions for the selection of project financing model,such as direct investment,firm-based investment,BOT,TOT and ABS,are put forward by the author.