PPP项目财务测算模型(公路)表格文件下载.xls

PPP项目财务测算模型(公路)表格文件下载.xls

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PleaseensurethatExcelsMacrosareenabledbeforeusingthemodel.ViabilityanalysismodelforPPPprojectsRoadssectorGovernmentofIndiaMinistryofFinanceDepartmentofEconomicAffairsDevelopercontactsDevelopedby:

@#@EconomicConsultingAssociatesinfoeca-Withassistancefrom:

@#@CRISILInfrastructureAdvisoryGoto:

@#@UserGuideVersioninformationVersionv5.2Date27June2011UserGuideColourcodesandbuttonsThedatainputsforthemodelaresetintwoways:

@#@usingthespinnerbuttonsor,wherethereisnospinner,enteringthenumbersdirectly.SpinnerbuttontochangevariableinLARGEstepsSpinnerbuttontochangevariableinSMALLstepsThemodelusesacolour-codetoindicatewheredatashouldbeenteredbytheuser:

@#@Cellvalue=PPPvariables,USERDEFINED.Enterdatainthebluecells,orusethespinnerstochangethecellvalue.Theseareaspectsoftheprojectwhichcanbevariedtotestviability.Cellvalue=PPPparameters,USERDEFINED.Theseareaspectsoftheprojectoreconomywhichtheusermaychangebutwhichwould,ingeneral,notbethesubjectofwhat-if?

@#@testing.Theusershouldchangetheseinfrequently.Cellvalue=Calculationcell.NOTUSERDEFINED.Cellvalue=Resultscell.Thesecellsshowresultsforimportantpartsofthemodel.Ahyperlinktotherelevantworksheet.BriefdescriptionofthemodelThismodelistohelpaProjectOfficerevaluatethefinancialviabilityofaPPPprojectintheroadssector.Viabilityistestedfromtheperspectiveofaprivatepartner（ie,looksataftertaxreturnscomparedtoexpectedafter-taxROEforacommercialdeveloper）.TheProjectOfficershouldalsohaveasenseofthelevelofgovernmentsupportorotherprojectcharacteristics（eg.Tolllevels）thatareacceptabletothepublicsector.Themodeldoesnottestwhethertheprojectiseconomicallyjustifiedoroffersvalue-for-money（VFM）comparedtothepublicsectoralternative.Themodelismeanttoberelativelysimple.AmoredetailedmodelwillbecreatedaspartoftheFeasibilityStudy.Themodelcontainssixmainsheetsinthefollowingsequence:

@#@Set-upandinformationinputsheets:

@#@1.Set-up:

@#@HeretheuserentersbackgroundassumptionssuchastypeofPPP,theprojectlifeandmacroeconomicinformation.2.Demand:

@#@Theinitialdemandandforecastgrowthratesareenteredhere.3.CapEx:

@#@TheCapitalExpenditureisenteredonthissheet（forCapExprojectsonly-thesheetishiddenfornon-CapExprojects）Set-upCapExRevenueOpExCoverViabilityAnalysisUserGuideDemandWorksheetname4.OpEx:

@#@Theoperatingexpenditurerelatedtotheprojectisenteredonthissheet5.Revenue:

@#@Heretheusercansetsourcesandlevelsofrevenuefortheproject.Revenuecanbefromtollstousers,orfromgovernmentpaymentstotheconcessionaire.6.ViabilityAnalysis:

@#@Thisprovidesanoverallsummaryoftheprojectsfinancialviabilityfromaprivateinvestorsperspective.GraphsshowingprojectcashflowsandkeyfinancialratiosareprovidedaswellaskeysummaryvaluessuchastheNPVandIRR.Financialstatementsandcalculationsheetsarealsoprovidedforinformationpurposes.TheExportsheetallowsoutputsfromtheFinancialViabilitymodeltobeusedintheVFMIndicatortool.UsetheExportresultsbuttononSet-upsheettocreateanexportfile.Theuserisencouragedtotrywhat-if?

@#@analysisofprojectviability.Theusershouldenterafirstestimateoftheprojectparametersinsteps1-5andthentestviabilitybyrefiningkeyparameters（suchastiming,chargesandpayments,andfinancingmix）inordertoseeifviabilityisachievable.Thiscanbedonebymakingchangestotheprojectset-up,inparticularbyusingtheViabilityAnalysissheetandontheRevenuesheet.Theusercannavigatebetweenthesheetsusingthebuttonsatthetop.Note:

@#@ExcelMacrosmustbeenabledforthemodeltofunctionfully.TheseshouldbeenabledwhenthefileisopenedorusingExcelssecuritysettings.ThemodelcandisplaythenewRupeesymbol.Todisplayit,youmusthavetherupiforidianrontinstalledonyourcomputer.Ifitisnotinstalled,therupeesymbolwillappearasanR.TheCapExsheetishiddenforOpEx-onlyprojects.Allcashflowsareassumedtooccurattheendofeachfiscalyear,exceptwherenoted.Themodelallowsforperiodsmeasuredinhalf-years（forexample,ifconstructionwasexpectedtotake2.5years）.Datesmightthenbeexpressedasmiddle-pointsofayear:

@#@eg,2013.5isthemiddleoftheyear2013.CashFlowIncomeStatmentBalanceSheetResultsExportThedatainputsforthemodelaresetintwoways:

@#@usingthespinnerbuttonsor,wherethereisnospinner,enteringthenumbersdirectly.SpinnerbuttontochangevariableinLARGEstepsSpinnerbuttontochangevariableinSMALLsteps=PPPvariables,USERDEFINED.Enterdatainthebluecells,orusethespinnerstochangethecellvalue.=PPPparameters,USERDEFINED.Theseareaspectsoftheprojectoreconomywhichtheusermaychangebutwhichwould,ingeneral,notbethesubjectofwhat-if?

@#@testing.Theusershouldchangetheseinfre