The Research of Concessionaire Selection Based on an Improved Lowest Tariff Decision Model

Abstract

BOT projects have been widely used in the past twenty years in the construction of infrastructure projects. Choosing a suitable concessionaire is the key of the project. Based on Particle Swarm Optimization, The study develops an improved lowest tariff decision model for choosing the best concessionaire. The model and algorithm demonstrate with a numerical example of a toll expressway BOT project. The solution derived from the concessionaire decision model can be helpful to develop infrastructure projects by BOT concession successfully.