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Home > History and Archaeology > History > A Case Study of Build-Operate-Transfer Road Project in Hong Kong: Route 3 Country Park Section
A Case Study of Build-Operate-Transfer Road Project in Hong Kong: Route 3 Country Park Section

A Case Study of Build-Operate-Transfer Road Project in Hong Kong: Route 3 Country Park Section


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About the Book

This dissertation, "A Case Study of Build-operate-transfer Road Project in Hong Kong: Route 3 Country Park Section" by Chi-wah, Felix, Lo, 盧志華, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: Abstracts of dissertation entitled A Case Study of Build-Operate-Transfer Road Project in Hong Kong: Route 3 Country Park Section Submitted by Lo Chi-wah, Felix For the degree of Master of Arts in Transport Policy and Planning at The University of Hong Kong in June 2004 In the planning of infrastructure projects, financing is a key consideration at the onset of the process. In view of the scale of infrastructure project and current budget deficit in Hong Kong, there is an increasing desire to tap new sources of funds from private sectors to finance projects in meeting development needs. The BOT structure is the most widely used model in the project financing of infrastructure such as transportation projects. For an infrastructure project under BOT model, the private sector is involved in the financing, construction and operation of the infrastructure and the project would be transferred back to the government upon expiry of the concession period. The concessionaire, in return, is granted with the right to charge the users for enjoying the services provided during the concession period. The BOT road projects in Hong Kong include Cross Harbour Tunnel, Eastern Harbour Crossing, Tate's Cairn Tunnel, Western Harbour Crossing and Route 3 Country Park Section (CPS). Route 3 CPS is the most recent project under BOT model in Hong Kong and has involved a significant investment. Like many other privatized road projects in Asia, it has been impacted unexpectedly by the Asian financial crisis in late 1990s. Currently, it is experiencing problems of over-optimistic forecast on traffic and revenue for the project. This dissertation reviews major issues of some real cases of BOT road projects in Hong Kong. It covers areas on how it was initiated, organized and operated. A detailed investigation was carried out on various risks of Route 3 CPS project and the main focus is on the analysis of its traffic and revenue risk. In analyzing the factors affecting this risk, a number of events were identified that account for its shortfall in revenue and low traffic flow. The major ones include unexpected economy downturn, decline of manufacturing industry and competition from toll-free Tuen Mun Road. A qualitative analysis is also presented to show the indicative trend of the future traffic and revenue of Route 3 CPS, by taking into account of socio-economic factors such as population growth, Gross Domestic Product growth, development programme of transport projects in the vicinity. It is found that the Route 3 CPS project will likely be prospective and profitable in medium term. In the last section of the dissertation, recommendations on tolling strategies for BOT model, including, shadow toll, and toll integration and pooling, are discussed. Also, the improvement strategies for mitigating the traffic and revenue risk of Route 3 CPS are suggested such as toll balancing strategy of the BOT road, new road diverting cross border traffic to Route 3. DOI: 10.5353/th_b2994987 Subjects: Infrastructure (Economics) Roads - China - Hong Kong - Design and construction Privatization - China - Hong Kong


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Product Details
  • ISBN-13: 9781374726451
  • Publisher: Open Dissertation Press
  • Publisher Imprint: Open Dissertation Press
  • Height: 279 mm
  • No of Pages: 86
  • Sub Title: Route 3 Country Park Section
  • Width: 216 mm
  • ISBN-10: 1374726451
  • Publisher Date: 27 Jan 2017
  • Binding: Paperback
  • Language: English
  • Spine Width: 5 mm
  • Weight: 222 gr

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