Evaluation of Value for Money for Urban Rail Transit PPP Projects

As an important public infrastructure, Urban Rail Transit has many unfavorable factors such as large capital demand, long construction period, long investment recovery period, etc. The introduction of Public-Private-Partner (PPP) model in the construction and operation process will help offset construction costs. Inadequacies, improve the operation and management level and service quality. The PPP model is regarded as an important means of promoting sustainable economic development under the “new normal economy” and has been vigorously promoted by the government in recent years. However, because it cannot rely entirely on subjective judgments and choices for a certain procurement model, the concept of “Value for Money” is introduced to provide a basis for pre-purchase decisions for Urban Rail Transit PPP projects. The purpose of this paper is to construct a model of Value-for-Money for Urban Rail Transit PPP projects, combine relevant theoretical research, and construct a value evaluation system for Urban Rail Transit PPP items based on the main characteristics of Urban Rail Transit PPP projects.