The BOT investment and construction method has been used by some developing countries to build their infrastructure and has achieved certain success. It has attracted widespread favor around the world and has been promoted as a new investment method. , however BOT is far from a new thing. It has a history of at least 300 years since its emergence.
The British Pilot Guild in the 17th century was responsible for managing maritime affairs, including the construction and operation of lighthouses, and had the privilege of building lighthouses and charging ships. However, according to a survey by Ronald Coase, in the 65 years from 1610 to 1675, the Pilot Guild did not build even a single lighthouse. There were at least ten privately built lighthouses during the same period. This private investment method for building lighthouses is exactly the same as the so-called BOT. That is: a private person first applies to the government for permission to build and operate a lighthouse. The application must include the signatures of many ship owners to prove that the lighthouse to be built is beneficial to them and that they are willing to pay tolls; after the application is approved by the government, the private person applies to the government Lease the land required to build a lighthouse, manage the lighthouse during the concession period and collect tolls from passing ships; after the privilege expires, the government will take back the lighthouse and hand it over to the Pilot Association for management and continued collection of fees.
In 1820, of the 46 lighthouses, 34 were built with private investment. It can be seen that the investment efficiency of the BOT model is much higher than that of the administrative department. Like many other innovations that had the same fate, BOT experienced a period of obscurity after its birth. This period of obscurity was so long for BOT that people almost forgot its early performance. Until the 1980s, when BOT was brought to the economic stage due to the needs of economic development, many people regarded it as a new thing.
Development and evolution
1. BOO (build-own-operate) means: build-own-operate.
Once the project is completed, the project company has ownership of it, and the local government only purchases project services.
2． BOOT (build-own-operate-transfer) means: build-own-operate-transfer.
The project company owns the project facilities and is responsible for operating them. After a certain period of time, the project will be handed over to the government.
3. BLT (build-lease-transfer) means: build-lease-transfer.
After the project is completed, it will be leased to a third party within a certain period of time. The project investment and operating income will be recovered in the form of lease installments, and the ownership will be transferred to the government later.
4. BTO (build-transfer-operate) means: build-transfer-operate.
The public nature of the project is very strong. It is not suitable for private companies to enjoy ownership during the operation period. The ownership must be transferred after the completion of the project, and then maintained and operated by the project company.
5． ROT (rehabilitate-operate-transfer) means: repair-operate-transfer
After the project is used, if damage is found, the owner of the project facility will repair, restore, rectify, operate-transfer.
6. DBFO (design-build-finance-operate) means: design-build-finance-operate.
7． BT (build--transfer) means: construction-transfer
8. BOOST (build-own-operate-subsidy-transfer) means: build-own-operate-subsidy-transfer
9. ROMT (rehabilitate—operate—maintain—transfer) means: repair—operate—maintain—transfer
10. ROO (rehabilitate—own—operate) means: repair—own—operate
11.BST (Build_Subsidy_Transfer) means construction—subsidy—transfer, a way for the government to purchase services in installments, such as Jiangsada Road, Datong District, Daqing City The nearly 2 kilometers of road lighting in the Datong City section is constructed and maintained by a professional company. The district government subsidizes its electricity bill every year based on the normal street light power consumption. After the 10-year period, 50 solar street lights in the area will be handed over to the government free of charge.