If you find any data displayed on this website that should be amended, please contact the Curriculum Management Team.
Module Title
LM Infrastructure and Project Finance
School
Birmingham Business School
Department
Birmingham Business School
Module Code
07 26647
Module Lead
Professor Victor Murinde
Level
Masters Level
Credits
10
Semester
Semester 2
Pre-requisites
Co-requisites
Restrictions
None
Exclusions
Description
Today, the financing of infrastructure and large scale projects is top priority for financial institutions, corporates and governments around the world, including the UK, US, the EU, and many emerging economies. The required capital for investment in infrastructure is estimated to be in trillions of US dollars. There is increasing need for professionals equipped with the necessary skills and knowledge to deliver long-term financing of regional, national and international infrastructure projects and large-scale projects mainly in the extractive industry (mining), transportation sector, telecommunications as well as in the energy industry. The financing may involve public sector as well as private sector projects, or the projects may be public – private partnerships (PPP).
This module on Infrastructure & Project Finance involves novel application of finance theory and techniques to structure, value and finance infrastructure projects and other large-scale projects, in the private sector, for governments and under PPP schemes. Students work through a series of case studies to apply project finance principles and valuation methods to real-life projects. Indeed, case studies extracted from best practice of ‘cut and thrust’ at global multilateral banks will be used to expose students to the opportunities and challenges of infrastructure and project finance.
Learning Outcomes
By the end of the module students should be able to:
Demonstrate a systematic understanding of how to use project finance methods to fund and value infrastructure and other large-scale projects
Assess how to mitigate specific risks and provide incentives in infrastructure projects, including optimal restructuring of projects in distress
Demonstrate a critical ability to analyse and structure project risks
Identify and analyse the key factors which sponsors and lenders look for when assessing project finance proposals
Formulate a rigorous business plan to finance an infrastructure or large scale project
Assessments: This module will be assessed by: an individual project based assignment of 2,500 words (70%), and a group presentation and project report (30%).
Reassessment: 3,000 word individual assignment at 100%.
Other
Reading List
‘Principles of Project Finance’ by E. R. Yescombe, Academic Press, 2002.
‘Principles of Project and Infrastructure Finance’ by Willie Tan, Routledge, 2007.
‘The Law and Business of International Project Finance’ by Scott L. Hoffman, Cambridge University Press, 3rd Edition, 2013.
“Project Financing: Asset Based Financial Engineering”, by John D. Finnerty, Wiley Finance, John Wiley & Sons, 2013.