污水处理项目采用 BOT 模式具有有利于政府对基础设施项目的宏观控制、有
利于加快基础设施的建设过程、有利于促进基础设施领域的改革、有利于突破传
统的融资模式拓宽利用外资的渠道、有利于提高项目的运作效率等优势，但受政
府行为、契约的不完善以及招投标管理的不科学等因素影响，污水处理项目建设
存在诸多风险。
总体来看，污水处理项目建设的风险可以分为融资子项目、建设子项目、生
产运营子项目三个子项目来考察，其中融资子项目主要面临市场、信用、政策、
法律风险，建设子项目主要面临技术、管理等风险，生产运营子项目主要面临市
场、金融、运行等风险。
对这种风险进行评价，可以借助层次分析法与灰色综合评价法综合进行，从
株洲市河西污水处理厂的评价结果来看，政府直接投资风险最大，而 BT 模式风
险最小，BOT 模式与 BT 模式风险相差不大。
关键词：污水处理；风险管理；评价ABSTRACT
Our country is rich in water resources but short in water supply, while the water
pollution intensifies the contradiction of the supply and demand. Therefore,
discussing the risk management of wastewater treatment project not only has
significance for accelerating the construction of sewage facilities, but also has the
important value in fully playing the role of the market mechanism as well as
improving the ability of sewage treatment.
Sewage treatment project introduces the form of BOT, which has a series of
advantages, such as favoring the government’s macroeconomic control of the
infrastructure projects, promoting the reform of the infrastructure fields, breaking the
traditional fund-raising form and broadening the channels of foreign capital
utilization, improving the operation efficiency of the projects, etc. However, due to
the restriction of government behaviors, the imperfection of the contracts, and the
unscientific management of the bids, there are many risks in sewage treatment project
construction.
Generally speaking, the risks of sewage treatment project construction fit into
three categories: financing project, construction project, and operation project.
Among the above, financing project mainly faces the risk of market, credit, politics
and laws, construction projects mainly faces the risk of technique and management,
and operation construction mainly faces the risk of market, fiancé and operation.
The risks can be assessed with the help of analysis hierarchy process and grey
comprehensive evaluation. From the evaluation results of Hexi sewage treatment plant
in Zhuzhou, the risk of the government’s direct investment is the most, while the risk
of BT form is the least. The difference between BOT form and BT form is little.
Keywords: sewage treatment; risk management; evaluation
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