International Research Journal of Engineering and Technology (IRJET)
e-ISSN: 2395-0056
Volume: 10 Issue: 06 | Jun 2023
p-ISSN: 2395-0072
www.irjet.net
A COMPARATIVE STUDY ON PPP AND BOT MODEL OF WORKING CAPITAL MANAGEMENT IN METRO RAIL PROJECTS 1Sushil Ramchandra Pawar, 2Ketan Ushir, 1M.Tech Research Scholar in construction Engineering, Sandip University, nashik, 2Assistant professor, Sandip University, nashik.
----------------------------------------------------------------------***--------------------------------------------------------------------Abstract: In recent decades, the global emphasis has been on infrastructure PPPs and BOTs. Public services are improved
through private investment. PPPs require governments to carefully pick private partners. Select the best PPP project partners. Collaboration necessitates a strong public-private commercial relationship. Few technologies assist governments in selecting the best private partner, which is critical for PPP and BOT projects. This research assists governments in making such decisions by identifying and researching the best private partners for PPP projects, developing a model for selecting the best private partner, and developing models and a framework for evaluating a project's risk profile from the perspective of the funding agencies. First, choose the finest commercial partners for PPP and BOT infrastructure projects. A fuzzy analytic network process (FANP) manages the selection process' imprecision, ambiguity, and uncertainty. This model is more realistic than deterministic models because it considers possible dependencies between alternatives and selection criteria and among selection criteria. Public financial data is used to interpret a project's free cash flow. Four criteria are used to assess private partners' financial capacity using total free cash flows. Two Indian PPP projects—HMR and MAHA-MR—used the strategy to rank and prioritize their private partners by bankability.
Keywords: PPPs, BOT, FANP, bankability, private partners etc. 1. Introduction: To improve the road network and boost the economy, the private-public partnership (PPP3) model was used in the late 1990s. Modernizing roads to the greatest standards has made several nations more competitive. Institutional actions by the federal government have encouraged private sector road network construction (Bashiri, 2019). The private sector helped create this industry. Private companies that invest in developing nations must upgrade their road networks (Iossa, 2018). PPPs coordinate and share resources with initiatives, use private sector resources, and categorize projects by risk. Cross-sector government investment in financial assets is another concern. PPP in road infrastructure will enable longterm economic growth. There are many PPP models that can be customized to a company's goals. With skilled project managers, the public sector can work with the private sector to achieve its tasks. Public-private partnerships (PPPs) decrease costs, speed development, and eliminate financial problems for significant infrastructure projects in many countries. Public-private partnerships (PPPs) boost infrastructure projects by integrating public and private resources (Liguang, 2017). A private corporation may receive a concession from the public sector to finance, design, build, own, and operate a big infrastructure project facility. This construction process is called Build-OwnOperate-Transfer (BOT) or Build-Transfer (BT). The private corporation will administer it for a time. Investors can get their money back and fund project operations and maintenance (Singh, 2017). Public-private partnerships often deploy BOT (Sudhansu, 2015). The concession period frequently raises fees. Correlating growth with internal and external factors can provide proponents a solid internal rate of return. Public-private partnerships and infrastructure use BOT most. A build-operate-transfer (BOT) arrangement is formed when a government agency contracts with a private company to create, operate, and maintain infrastructure. The private party funds the project, controls the facilities, and keeps all earnings (Shastry, 2014). At the end of the concession term, the private entity will receive the facility for free. 1.1. Objectives: 1.
Examine the literature review and current partner selection practices, identifying any gaps and limitations.
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