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Abudayyeh, O (2003) Undergraduate Research Mentoring Model in Construction Engineering and Management. Journal of Construction Engineering and Management, 129(01), 65–69.
Bakatjan, S, Arikan, M and Tiong, R L K (2003) Optimal Capital Structure Model for BOT Power Projects in Turkey. Journal of Construction Engineering and Management, 129(01), 89–97.
- Type: Journal Article
- Keywords: Build/Operate/Transfer; Financial management; Linear programming; Project management; Turkey; Models; finance; project management; construction industry; civil engineering; linear programming;
- ISBN/ISSN: 0733-9364
- URL: https://doi.org/10.1061/(ASCE)0733-9364(2003)129:1(89)
- Abstract:
Interest in the Build/Operate/Transfer (BOT) scheme for infrastructure projects has been growing rapidly, and numerous projects have been implemented around the world. Through BOT projects, a government reallocates the risks and rewards in the development of large infrastructure projects to the private sector. One key aspect to the successful implementation of the BOT concept in any country is the raising of finance by project sponsors. Financial engineering techniques and capital structuring skills are required to find the proper mix of debt and equity and to achieve successful financing for the proposed project. The objective of this paper is to present a simplified model to determine the optimum equity level for decisionmakers at the evaluation stage of a BOT hydroelectric power plant (HEPP) project in Turkey, which takes place immediately after the completion of the feasibility study. The resulting model is the combination of a financial model and a linear programming model that incorporates an objective of maximizing the return of the project from the equity holder’s point of view. To show versatility of the model, a real case study is conducted. Thus, this research is concerned with the determination of an equity funding level in BOT project finance. There are different equity levels found in BOT HEPP projects, and there is a need for such a model to determine optimal capital structure, which would assist the project sponsors to ensure that the equity level necessary for optimal capital structure is available prior to the project implementation stage.
Cheng, M and Tsai, M (2003) Reengineering of Construction Management Process. Journal of Construction Engineering and Management, 129(01), 105–14.
Cheng, M, Su, C and You, H (2003) Optimal Project Organizational Structure for Construction Management. Journal of Construction Engineering and Management, 129(01), 70–79.
Colwell, D A F and Ariaratnam, S T (2003) Evaluation of High-Density Polyethylene Pipe Installed Using Horizontal Directional Drilling. Journal of Construction Engineering and Management, 129(01), 47–55.
Gambatese, J A (2003) Controlled Concrete Demolition Using Expansive Cracking Agents. Journal of Construction Engineering and Management, 129(01), 98–104.
Ho, S P and Liu, L Y (2003) How to Evaluate and Invest in Emerging A/E/C Technologies under Uncertainty. Journal of Construction Engineering and Management, 129(01), 16–24.
Lee, J, Lorenc, S J and Bernold, L E (2003) Comparative Performance Evaluation of Tele-Operated Pipe Laying. Journal of Construction Engineering and Management, 129(01), 32–40.
Mattila, K G and Park, A (2003) Comparison of Linear Scheduling Model and Repetitive Scheduling Method. Journal of Construction Engineering and Management, 129(01), 56–64.
Minchin, R E and Thomas, H R (2003) Validation of Vibration-Based Onboard Asphalt Density Measuring System. Journal of Construction Engineering and Management, 129(01), 1–7.
Mohamed, S (2003) Scorecard Approach to Benchmarking Organizational Safety Culture in Construction. Journal of Construction Engineering and Management, 129(01), 80–88.
Park, K, Hwang, Y, Seo, S and Seo, H (2003) Quantitative Assessment of Environmental Impacts on Life Cycle of Highways. Journal of Construction Engineering and Management, 129(01), 25–31.
Pavitt, T C and Gibb, A G F (2003) Interface Management within Construction: In Particular, Building Facade. Journal of Construction Engineering and Management, 129(01), 8–15.
Rojas, E M and Aramvareekul, P (2003) Is Construction Labor Productivity Really Declining?. Journal of Construction Engineering and Management, 129(01), 41–46.