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This main objective of the course is to provide an understanding and appreciation of a financing technique that is widely used to finance infrastructure projects today.

Project Finance, as it is called, differs quantitatively and qualitatively in many ways as compared to the traditional corporate finance.

This course will provide an exposure to this innovative financing method - Project Finance, and its applicability and utility across industries.

The objective of this course is to give an exposure to the world of project finance on the following areas:

  • Project structuring.

  • Understand the complexities of accurately constructing and evaluating cash flows.

  • Risk assessment and management in infrastructure projects.

  • Financing and valuation of infrastructure projects.

  • PPP's in infrastructure.

 


S.No

Topics

No.of Hours

1

Introduction to project finance.

1

2

Uses of project finance.

1

3

Motivations for using project finance.

2

4

Unique features of infrastructure projects.

2

5

Essential elements of project financing.

1

6

Trends in project financing.

2

7

Market for project finance.

1

8

Project finance in the power sector.

2

9

Project finance in the roads sector.

1

10

Project finance in airports.

1

11

Sources for project finance.

1

12

Equity.

1

13

Multi lateral agencies and financial institutions.

1

14

Debt.

2

15

Project leasing.

2

16

Special purpose vehicles.

1

17

Structuring the project company.

1

18

Financial analysis.

5

19

Valuation - Free Cash Flows, Equity Cash Flows.

4

20

Project Risk identification, assessment, management.

3

21

Public Private Partnerships.

1

22

Case studies in Infrastructure Financing-Bangalore International Airport and Cochin International Airport; Alandur Sewerage Treatment Plant, Hyderabad Outer Ring Road.

3

23

Summary.

1

 

Total

40

  1. Financial Management.

  2. Micro Economics / Managerial Economics.


Project Finance in Theory and Practice, by Stefano Gatti, Academic Press (an Imprint of Elsevier). Indian Reprint ISBN: 978-81-312-1664-4.

Reference texts:

  1. Project Finance, by Freshfields.

  2. Introduction to Project Finance, by Andrew Fight, Elsevier Publications. Indian Reprint: ISBN-13: 978-81-312-0849-6.

  3. Project Financing - Asset based financial engineering, by John D. Finnerty, John Wiley & Sons.

  4. Principles of Project Finance, by E.R. Yescombe, Allied Press.


www.people.hbs.edu/besty/projfinportal/


  1. Modern Project Finance, A Case Book - By Benjamin C. Esty.

  2. Mega Projects and Risk - An anatomy of ambition, by Bent Flyvbjerg et al.

  3. Policy, Finance & Management for Public Private Partnerships, Ed. By Akintola Akintoye and Matthias Beck.

  4. Corporate Finance, by Ross, Westerfield and Jaffe.



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