Infrastructure Needs
Faced with major infrastr
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Faced with major infrastructure needs, governments in both developed and third world nations have resorted to build operate transfer (BOT) techniques. The BOT concept is actually quite simple. It involves the utilization of private sector resources for public benefit. Most BOT contracts involve some public utility or transport facility. Typically, development contracts are granted to private consortia comprised of contractors, financiers, and various advisors. These professionals finance, design, and build the public project. Upon completion, the consortium is then allowed to operate the concession for a set period of time. At the end of this concession period, control of the facility is transfer back to the government. While this model may be remarkably simple, real life BOT projects can actually become quite complex. The different problems which may arise can range from high up front costs, to various types of risk. In the United States, BOT methods have been employed for the construction of power plants. Although transport systems offer a less ideal context for BOT, recent legislation (e.g., California's AB680) may make the techniques more popular. Already, BOT methods are being applied extensively throughout the world. Although individual projects may vary considerably, certain features are common to all. Indeed, BOT methods have been proven effective. They are an effective tool for the management of technology.
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nd of San Francisco Bay with more northerly areas. The project would be built in two phases. The first of these involved building a 40-mile stretch of new highway. This would be subsequently followed by construction of another stretch of highway with high span bridges crossing over two separate rivers (Cohen, 1991, p. 301).
After subjecting each of their proposals to an independent financial feasibility review, the four winning consortia still had to negotiate and sign a concession agreement. Although these agreements involved a time limited option for developing the projects, they did consist of exclusive contracts. Caltrans agreed not to "build any competing facilities" during the option period (Cohen, 1991, p. 301).
The deadline for signing the concession agreements was December 31, 1990. Hence, little over a year passed from enactment of the original infrastructure legislation to negotiation of the franchise agreements. The projects that survived this process were generally those that were the most feasible and those that were the easiest to finance (either from tolls or other revenues related to real estate). Despite this rather conservative outcome though, AB680's implementation did include several innovati
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BOT Projects, Moreover Turkey, Harbor Tunnel, Transportation Caltrans, Channel Tunnel involve, Schriener Green, Francisco Bay, British French, Chris Elliot, San Francisco, cohen 1991, tiong 1992, barrett 1987, bot projects, tiong et, al 1992, et al, et al 1992, tiong et al, schriener green 1993, green 1993, sydney harbor, schriener green, sydney harbor tunnel, cohen 1991 301,
Approximate Word count = 7719
Approximate Pages = 31 (250 words per page)
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