First-hand data about the Shanghai Tianma project was collected with a focus on project negotiation and concession agreement. Lessons learned about risk
management were acquired. This paper presents a detailed study of the contractual structure, risk sharing scheme, risk response measures to CRFs, and project transfer of a PPP project. The study results will
provide governments with management implications to prepare equitable concession agreements and
benefit private investors by effectively mitigating and managing risks in future PPP waste-to-energy
incineration projects.
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