| Title |
An Improvement Method through Build-Transfer-Lease (BTL) Problem Analysis from the Special Purpose Company (SPC) Perspective |
| Authors |
Kim, Soo-Yong ; Son, Myung-Chan ; Yang, Jin-Kook |
| DOI |
http://dx.doi.org/10.6106/kJCEM.2013.14.3.167 |
| Keywords |
BTL(Build-Transfer-Lease) ; Special Purpose Company(SPC) ; Case Study ; Solutions ; Rational Improvement |
| Abstract |
In 2005, the government introduced BTL(Build-Transfer-Lease) projects as one of the methods of private investment in infrastructure. In a BTL project, a private company builds a public facility and leases it to the government to withdraw its invested capital. But there appear several problems with it due to a short period of preparation and lack of experiences. Specifically, private companies that plan to participate in this project have to take a risk since serious problems are likely to take place because of unrealistic estimation of construction costs, etc., and they finally avoid participating in this project. A case study was made over advanced countries, Japan and the United Kingdom, to find out how to resolve the problems, and rational 7 improvement method were presented from a perspective of Special Purpose Company (SPC), which could be accepted by both of SPC and government agencies. The findings of the study are expected to provide workable solutions to BTL projects from a standpoint of private companies to facilitate the rational improvement of BTL projects, and this study is ultimately expected to stimulate the active participation of SPC to make a contribution to the vitalization of domestic BTL projects. |