PPP项目财务测算模型(公路)表格文件下载.xls

1、Please ensure that Excels Macros are enabled before using the model.Viability analysis model for PPP projectsRoads sectorGovernment of IndiaMinistry of FinanceDepartment of Economic AffairsDeveloper contactsDeveloped by:#Economic Consulting Associatesinfoeca-With assistance from:#CRISIL Infrastructu

2、re AdvisoryGo to:#User GuideVersion informationVersionv5.2Date27 June 2011User GuideColour codes and buttonsThe data inputs for the model are set in two ways:#using the spinner buttons or,where there is no spinner,entering the numbers directly.Spinner button to change variable in LARGE stepsSpinner

3、button to change variable in SMALL stepsThe model uses a colour-code to indicate where data should be entered by the user:#Cell value=PPP variables,USER DEFINED.Enter data in the blue cells,or use the spinners to change the cell value.These are aspects of the project which can be varied to test viab

4、ility.Cell value=PPP parameters,USER DEFINED.These are aspects of the project or economy which the user may change but which would,in general,not be the subject of what-if?#testing.The user should change these infrequently.Cell value=Calculation cell.NOT USER DEFINED.Cell value=Results cell.These ce

5、lls show results for important parts of the model.A hyperlink to the relevant worksheet.Brief description of the modelThis model is to help a Project Officer evaluate the financial viability of a PPP project in the roads sector.Viability is tested from the perspective of a private partner（ie,looks a

6、t after tax returns compared to expected after-tax ROE for a commercial developer）.The Project Officer should also have a sense of the level of government support or other project characteristics（eg.Toll levels）that are acceptable to the public sector.The model does not test whether the project is e

7、conomically justified or offers value-for-money（VFM）compared to the public sector alternative.The model is meant to be relatively simple.A more detailed model will be created as part of the Feasibility Study.The model contains six main sheets in the following sequence:#Set-up and information input s

8、heets:#1.Set-up:#Here the user enters background assumptions such as type of PPP,the project life and macroeconomic information.2.Demand:#The initial demand and forecast growth rates are entered here.3.CapEx:#The Capital Expenditure is entered on this sheet（for CapEx projects only-the sheet is hidde

9、n for non-CapEx projects）Set-upCapExRevenueOpExCoverViability AnalysisUser GuideDemandWorksheetname 4.OpEx:#The operating expenditure related to the project is entered on this sheet 5.Revenue:#Here the user can set sources and levels of revenue for the project.Revenue can be from tolls to users,or f

10、rom government payments to the concessionaire.6.Viability Analysis:#This provides an overall summary of the projects financial viability from a private investors perspective.Graphs showing project cashflows and key financial ratios are provided as well as key summary values such as the NPV and IRR.F

11、inancial statements and calculation sheets are also provided for information purposes.The Export sheet allows outputs from the Financial Viability model to be used in the VFM Indicator tool.Use the Export results button on Set-up sheet to create an export file.The user is encouraged to try what-if?#

12、analysis of project viability.The user should enter a first estimate of the project parameters in steps 1-5 and then test viability by refining key parameters（such as timing,charges and payments,and financing mix）in order to see if viability is achievable.This can be done by making changes to the pr

13、oject set-up,in particular by using the Viability Analysis sheet and on the Revenue sheet.The user can navigate between the sheets using the buttons at the top.Note:#Excel Macros must be enabled for the model to function fully.These should be enabled when the file is opened or using Excels security

14、settings.The model can display the new Rupee symbol.To display it,you must have the rupi foridian ront installed on your computer.If it is not installed,the rupee symbol will appear as an R.The CapEx sheet is hidden for OpEx-only projects.All cash flows are assumed to occur at the end of each fiscal

15、 year,except where noted.The model allows for periods measured in half-years（for example,if construction was expected to take 2.5 years）.Dates might then be expressed as middle-points of a year:#eg,2013.5 is the middle of the year 2013.Cash FlowIncome StatmentBalance SheetResultsExportThe data input

16、s for the model are set in two ways:#using the spinner buttons or,where there is no spinner,entering the numbers directly.Spinner button to change variable in LARGE stepsSpinner button to change variable in SMALL steps=PPP variables,USER DEFINED.Enter data in the blue cells,or use the spinners to change the cell value.=PPP parameters,USER DEFINED.These are aspects of the project or economy which the user may change but which would,in general,not be the subject of what-if?#testing.The user should change these infre