{"product_id":"project-finance-for-construction-and-infrastructure-isbn-9781405151276","title":"Project Finance for Construction and Infrastructure","description":"\u003cp\u003eThis is a self-contained text on the logic and institutions of project finance, supplemented by a series of project finance case studies illustrating applications in different economic environments, across different jurisdictions and at different stages of development.\u003c\/p\u003e \u003cp\u003eIt will introduce an analytical framework drawing on applied institutional economics that includes and concentrates primarily on an analysis of the institutional logic behind generic project finance arrangements.\u003c\/p\u003e \u003cp\u003eThe application of the institutional framework will be demonstrated with project cases from Hong Kong, Thailand, India, Europe and Azerbaijan – each at different stages of development. While each project case will have a general theme and will highlight aspects of interest to built environment professionals, it will primarily be used to illustrate one or more specific PF\/PFI principle.\u003c\/p\u003e \u003cp\u003ePreface vi\u003c\/p\u003e \u003cp\u003eAcknowledgements ix\u003c\/p\u003e \u003cp\u003eAbout the Authors x\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 The Nature of Project Finance 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1.1 The world of projects today 3\u003c\/p\u003e \u003cp\u003e1.2 Corporations, finance and projects: important concepts 5\u003c\/p\u003e \u003cp\u003e1.3 The project company business model 12\u003c\/p\u003e \u003cp\u003e1.4 The project cycle 21\u003c\/p\u003e \u003cp\u003e1.5 System concepts and the project company 29\u003c\/p\u003e \u003cp\u003e1.6 Plan of the book 39\u003c\/p\u003e \u003cp\u003eKey concepts 42\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 Complex Transactions 43\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e2.1 Transactions, the cost of transactions, transaction cost economics, and projects 44\u003c\/p\u003e \u003cp\u003e2.2 A more formal approach to disaggregation of transactions 51\u003c\/p\u003e \u003cp\u003e2.3 The influence of agency on transaction costs -- agency costs 58\u003c\/p\u003e \u003cp\u003e2.4 Corporate finance context 64\u003c\/p\u003e \u003cp\u003e2.5 Incentive conflicts in corporate finance 69\u003c\/p\u003e \u003cp\u003e2.6 Transaction costs and agency -- theoretic logic of the project finance model 75\u003c\/p\u003e \u003cp\u003eKey concepts 78\u003c\/p\u003e \u003cp\u003eAppendix 2.1 Comparison of long-term debt instruments 79\u003c\/p\u003e \u003cp\u003eA2.1.1 Syndicated loans 80\u003c\/p\u003e \u003cp\u003eA2.1.2 International bonds 86\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 Financial Evaluation 93\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e3.1 Valuation and the project company 94\u003c\/p\u003e \u003cp\u003e3.2 Valuation and the project company as a single-asset business 111\u003c\/p\u003e \u003cp\u003e3.3 Capital budgeting decisions 135\u003c\/p\u003e \u003cp\u003eKey concepts 149\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 Managing Risk in Project Finance Transactions 150\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e4.1 The project cycle revisited 152\u003c\/p\u003e \u003cp\u003e4.2 Risk management approaches 155\u003c\/p\u003e \u003cp\u003e4.3 The project company and risk identification 169\u003c\/p\u003e \u003cp\u003e4.4 Risks in the construction phase 188\u003c\/p\u003e \u003cp\u003e4.5 The institutional environment and risk 195\u003c\/p\u003e \u003cp\u003e4.6 Risk management and project lenders 203\u003c\/p\u003e \u003cp\u003eKey concepts 214\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 Continuing Evolution: from PF to PFI, PPP and beyond 216\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e5.1 Introduction 216\u003c\/p\u003e \u003cp\u003e5.2 PFI origins 219\u003c\/p\u003e \u003cp\u003e5.3 Types of PFI 221\u003c\/p\u003e \u003cp\u003e5.4 PFI features 223\u003c\/p\u003e \u003cp\u003e5.5 Procurement process principles 225\u003c\/p\u003e \u003cp\u003e5.6 Contract and control structure 231\u003c\/p\u003e \u003cp\u003e5.7 The special purpose or project vehicle and financing 232\u003c\/p\u003e \u003cp\u003e5.8 PFI\/PPP and rational privatisation 233\u003c\/p\u003e \u003cp\u003e5.9 Risk management 234\u003c\/p\u003e \u003cp\u003e5.10 Financial risk in PFI and PPPs 239\u003c\/p\u003e \u003cp\u003e5.11 Challenges for PFI and PPP and the responses 239\u003c\/p\u003e \u003cp\u003e5.12 The lessons 242\u003c\/p\u003e \u003cp\u003eKey concepts 244\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 The Relevance of Sound Demand in Infrastructure Project Finance: the Sydney CrossCity Tunnel 245\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e6.1 Infrastructure fi nance: the Sydney CrossCity Tunnel 245\u003c\/p\u003e \u003cp\u003e6.2 History of the CCT project 246\u003c\/p\u003e \u003cp\u003e6.3 Cheung Kong Infrastructure Holdings Limited 252\u003c\/p\u003e \u003cp\u003e6.4 The bidding process 256\u003c\/p\u003e \u003cp\u003e6.5 Valuing the project 257\u003c\/p\u003e \u003cp\u003e6.6 Assessing project risks 261\u003c\/p\u003e \u003cp\u003e6.7 Capital structure 262\u003c\/p\u003e \u003cp\u003e6.8 Completion of the deal 266\u003c\/p\u003e \u003cp\u003e6.9 Project outcomes 278\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 Financial Structure and Infrastructure Project Finance: the Hong Kong Western Harbour Crossing 280\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e7.1 Refinancing the Western Harbour Crossing, Hong Kong 280\u003c\/p\u003e \u003cp\u003e7.2 History of the Western Harbour Crossing 281\u003c\/p\u003e \u003cp\u003e7.3 Valuation of the project 302\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 Institutional Risks and Infrastructure Project Finance: the Dabhol Power Project 308\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e8.1 Dabhol Power Project 309\u003c\/p\u003e \u003cp\u003e8.2 Development of the Dabhol Power Project 312\u003c\/p\u003e \u003cp\u003e8.3 Power purchase agreement 314\u003c\/p\u003e \u003cp\u003e8.4 Epilogue 321\u003c\/p\u003e \u003cp\u003e8.5 Analysis 321\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 Extreme Complexity in Transacting: public private partnerships at work in the London Underground 324\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e9.1 Public private partnership: London Underground 324\u003c\/p\u003e \u003cp\u003e9.2 Two countries, two systems 325\u003c\/p\u003e \u003cp\u003e9.3 Public private partnership 328\u003c\/p\u003e \u003cp\u003e9.4 Endnote 346\u003c\/p\u003e \u003cp\u003eReferences 348\u003c\/p\u003e \u003cp\u003eIndex 354\u003c\/p\u003e \u003cp\u003e\"An interesting publication with many key aims, it looks to supply the concepts of project finance to academics and students by the utilisation of real projects.\" (\u003ci\u003eBuilding Engineer\u003c\/i\u003e)\u003c\/p\u003e \u003cp\u003e\u003cb\u003eFrederik Pretorius\u003c\/b\u003e and \u003cb\u003eBerry Hsu,\u003c\/b\u003e Department of Real Estate and Construction, University of Hong Kong.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePaul Lejot\u003c\/b\u003e and \u003cb\u003eDouglas Arner,\u003c\/b\u003e Faculty of Law, University of Hong Kong.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eArthur McInnis,\u003c\/b\u003e Faculty of Law, City University of Hong Kong.\u003c\/p\u003e","brand":"Wiley-Blackwell","offers":[{"title":"Default Title","offer_id":47989874131173,"sku":"NP9781405151276","price":169.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781405151276.jpg?v=1761785747","url":"https:\/\/k12savings.com\/es\/products\/project-finance-for-construction-and-infrastructure-isbn-9781405151276","provider":"K12savings","version":"1.0","type":"link"}