Public utility industry PPP new regulations to strengthen the logic of reproduction cashmere mafia

The utility industry: PPP new regulations issued in October 14th recommended strengthening reconstruction logic Guotai Junan public industry research report, the report is as follows: the event: the Ministry of Finance issued the "notice" on further promoting the work of the government and social capital cooperation in the field of public service announcement highlights can be summarized in 3 points. For the first time put forward two mandatory pilot, that is, in the garbage disposal, sewage treatment and other public services in the field of new projects mandatory PPP model. Second, once again stressed the pre project feasibility studies, demonstration projects, play a leading role in the information platform, to avoid such problems and encourage a variety of government shares ownership (state-owned, private, mixed and foreign enterprises to participate in the PPP project). Thirdly, it puts forward the synergy of PPP and supply side reform, and strengthens the strategic height of PPP. Notice to strengthen the logic of our recommendation PPP. At the meso level, based on the clear profit model and the logic of policy support, we focus on the theme of the PPP in the water and garbage before the two major plate. In the water sector, the current water projects accounted for 72% of the largest environmental PPP projects, the floor rate of over 30%. Water trillion market opened ten + subsequent water price + SOE reform will continue to attract social capital, water industry is expected to continue to benefit in the PPP tide. In the field of garbage disposal, garbage disposal mechanism is mainly user pay + government subsidies. In recent years, waste incineration, kitchen waste treatment to bring electricity and oil subsidies diversified return mechanism, social capital flocking. Which is particularly rapid development of waste incineration PPP, the project floor rate as high as 45%, far more than other industries. This notice the two "mandatory" is expected to further enhance the permeability of PPP in water and waste power generation industry and falling rate; the macro level, we would like to reiterate that PPP is the three party cooperation, each one takes what he needs. This notice and the PPP and the supply side reforms, once again confirms the weak economy and government background of limited financial resources under PPP mode conforms to the steady growth of the government and make up the short board. Reiterate our forecast for the third batch of demonstration projects to improve the floor rate. The notice once again stressed the preliminary work, information disclosure and other measures are expected to continue to improve the landing rate of PPP projects. Recommended subject. The leading source of clean water and Tianjin membrane technology for water treatment is recommended. The clean water source: Based on MBR membrane technology, the acquisition of Jiuan group, padded short board project; backed by CDB, have the advantage of financing ability. The Tianjin membrane technology (suspension): backed by Tianjin University of Technology, deep membrane treatment technology; intends to acquire two water treatment targets, is expected to play a synergistic effect, enhance profitability; PPP ability to take a single eye, orders in hand the amount of 800 million, up to 1.3 times 2015 revenue, performance elasticity; involved in environmental industry fund, is expected to help the company’s business expansion.相关的主题文章: