Governmental role in BOT-led infrastructure development

BOT-type schemes are attracting increasing interest with the growing thrust towards privatizing infrastructure projects in both developing and developed countries. However, an intelligent allocation of risks is a prerequisite to success of this relatively new procurement route, amidst the many varia...

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Bibliographic Details
Published in:International journal of project management 2001-05, Vol.19 (4), p.195-205
Main Authors: Kumaraswamy, M.M., Zhang, X.Q.
Format: Article
Language:English
Subjects:
BOT-type schemes
Governmental role
Hong Kong
Infrastructure
Infrastructure projects
Privatization
Project management
Public sector
Roles
Studies
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Summary:BOT-type schemes are attracting increasing interest with the growing thrust towards privatizing infrastructure projects in both developing and developed countries. However, an intelligent allocation of risks is a prerequisite to success of this relatively new procurement route, amidst the many variables and unknowns in such ‘long-term’ and more complex scenarios. Concerted efforts from both government and private sectors, as well as appropriate political, legal and economic environments are also essential. This paper identifies and discusses various issues that governments need to deal with, for the BOT mechanism to work smoothly. These issues are further illustrated by relevant examples from Hong Kong experience in evolving an effective BOT project management framework for transportation/tunnel projects.
ISSN:0263-7863
1873-4634
DOI:10.1016/S0263-7863(99)00069-1