What is an engineering BT project?

BT project means that according to the contract signed between the project sponsor and the investor, the investor is responsible for the financing and construction of the project, and the completed project is handed over to the project sponsor within the specified time limit. The project sponsor The total project investment and determined returns will be paid to investors in installments according to the repurchase agreement signed in advance. Most BT projects are cooperation projects between the government and large and medium-sized state-owned enterprises.

In layman's terms, BT investment is also a "turnkey project". Social investors invest and construct. After the construction is completed, the "turnkey" is turned over, and the government repurchases it. The investor's reasonableness is taken into account when repurchasing. income.

The "Decision of the State Council on the Reform of the Investment System" promulgated by the State Council in 2004 (Guofa [2004] No. 20) clearly stipulates that "the investment areas of social capital are relaxed and social capital is allowed to enter areas not prohibited by laws and regulations." "Governments at all levels must create conditions and use various forms such as franchise operations and investment subsidies to attract social capital to participate in projects with reasonable returns and certain investment recovery capabilities." Construction of public welfare undertakings and public infrastructure.” This policy background can be said to be an important factor in the development of the bt model.

Extended information:

Legal basis:

1. According to Article 2 of the "Government Procurement Law of the People's Republic of China" "Government procurement refers to State agencies, public institutions and organizations at all levels use fiscal funds to purchase goods, projects and services that are within the centralized procurement catalog established in accordance with the law or above the procurement quota. ”

2. According to the China Article 7 of Chapter 4 of the "Guiding Opinions on Cultivating and Developing General Contracting and Project Management Enterprises" of the People's Republic of China and the Ministry of Construction [2003] No. 30 "Encourage general project contracting enterprises with investment and financing capabilities. According to the requirements of the owner, the engineering projects are built-transfer (BT), build-operate-transfer (BOT), build-own-operate (BOO), build-own-operate-transfer (BOOT) Organize and implement in other ways.

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