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• Main Authors: Chin-Yuan Hsueh, 薛欽源
• Other Authors: none
• Format: Others
• Language: zh-TW
• Published: 2007
• Online Access: http://ndltd.ncl.edu.tw/handle/84259085516704255779

碩士 === 國立中央大學 === 財務金融學系碩士在職專班 === 95 === The sewage system is the important public infrastructure actively implemented by the central government now, since it can furthermore improve our environmental quality and promote the nation’s competitiveness. To minimize the government’s short-term financial burdens and attract the private investment, vigor, and efficient management, the Executive Yuan encourages the private sector to participate the sewage system construction plans via the BOT (Build-Operate-Transfer) model for those systems over 10,000 tons capability per day. According to the official statistics, there are such totally more than 36 systems in the country. This research is based on the case of” Lotong District Sewerage System”, which focuses on financial analysis of BOT investment projects of sewage sewers by net present value (NPV), internal rate of return (IRR), payback year, self-liquidation ratio (SLR) and debt service coverage ratio (DSCR) to evaluate the financial feasibility. This research finds that to meet the financial feasibility of the project for the private sector, the sewage purification fare should be above 33.77 NTD/unit so as to have equity IRR 10% and project IRR 7.61%. Due to the calculated sewage purification fare far above the current water fare, it will lead to some burdens of users, inconvenience of fare collection by private investor institutions, and some other deficiency. Based on the financial calculation and analysis, it concludes that the investment required return could be enhanced by monitoring of the construction status and considerate control for the construction of house connection for sewage.