Project Finance Model – Toll Road – 30 Year Concession

Description
The excel model is an effective tool to assess the economic feasibility of a long-term infrastructure project. The model is designed to assist users in the structuring of a project finance deal by determining the maximum amount of debt used to finance the project and measure the risk through the cash flow waterfall analysis.

Time Series:
Construction Period - Monthly
Operational Period - Annual

The Model features:
• Table of Contents
• Navigation
• Key (model legend)
• Error check and Alerts
• Assumptions:
- Revenue & Expenses
Open System Transaction: calculation based on daily tariff and daily traffic
Closed System Transaction: calculation based on distance of toll road, daily tariff, and daily traffic
RAMP: calculation based on daily tariff and daily traffic
- Initial Investment
Initial Investment for the project and it includes optional government subsidy
- Financing
Debt: Equal repayments with an optional grace period and two interest calculation (IDO & IDC)
Equity: controlled debt-to-equity ratio with dividend payout ratio
- Capital Expenditure
Straight-line depreciation during operations
- Others
• Outputs:
- Dashboard
Graph: Graph is interchangeable between Construction and Operation Period for detailed analysis
Ratios: Summary of key project ratios
Project Detail Summary
Sensitivity Analysis
- Income Statement
- Cash Flow Statement
- Cash Flow Waterfall
- Project Finance Ratios (NPV, IRR, Payback Period, DSCR, DER, etc)

The model was developed using financial modelling best practice standards. This particular model was built using the Modano Software under the Best Practice Modelling Standard (BPMS). I used a specialist financial modelling software to incorporate flexibility into the time series.

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Your review and rating of the model is always appreciated.

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