Highway Project Value of Money Assessment under PPP Mode and Its Application

Table 4

The calculation process of PSC₀ value,   unit: million Yuan.

project	Construction period			operation period
Features	2016	2017	2018	2019	2023	2028	2033	2038	2043	2048
1 Cash inflow	0	0	0	110.21	110.90	111.84	113.03	114.50	115.87	117.48
1.1 Operating Income	0	0	0	28.18	40.97	58.84	83.68	117.15	145.72	181.28
1.2 Recycling residual value	0	0	0	0	0	0	0	0	0	0
1.3 Financial subsidy	0	0	0	82.03	69.93	53.00	29.35	-2.65	-29.85	-63.79
2 Cash outflow	187.19	272.32	241.35	110.21	110.90	111.84	113.03	114.50	115.87	117.48
2.1 Capital investment	176.1	234.8	176.1	0	0	0	0	0	0	0
2.2 Operations Management Fee	0	0	0	2.23	2.37	2.55	2.75	2.96	3.19	3.43
2.3 Maintenance costs	0	0	0	2.74	2.91	3.13	3.37	3.63	3.91	4.22
2.4 Overhaul costs	0	0	0	0	0	0	0	0	0	0
2.5 Water conservancy fund	0	0	0	0.85	1.23	1.77	2.51	3.51	4.37	5.44
2.6 Debt service	11.09	37.52	65.25	104.40	104.40	104.40	104.40	104.40	104.40	104.40
3 Net cash flow(1-2)	-187.19	-272.32	-241.35	0	0	0	0	0	0	0
PSC0 = 1108.74