Lessons Learned from the Private Participation in the Taiwan High Speed Rail Project as the Reference for Future Development of U.S. High Speed Rail

高速鐵路建設之多數成敗關鍵在於資金，當1980年代時台灣因經濟的急速發展無法繼續滿足國內南北交通壅塞之困境時，為了解決此問題，台灣政府決定學習日本及歐洲各國選擇建造一條連接台灣南北的高速鐵路，事後又因為資金到位之問題而引入私人企業參與此一重大之交通建設。雖然台灣高速鐵路BOT案為國際上史無前例且國內第一個BOT專案的經驗，對於政府來說，卻是一個只許成功不許失敗之工程。所以儘管建造過程中有許多的波折以及爭論，最終還是圓滿完成且在2007年正式營運。 美國為世界經濟與政治大國，過去二十年美國聯邦政府將其都市發展資金投資於公路建造與航空業發展，長期忽略鐵路。在完全沒有高速鐵路的情形下，因環境變遷、世界天災多變、能源危機等問題，使得大量仰賴石油的美國重新思考鐵路之重要性。美國發展高速鐵路之好處，除了可減輕公路與航空負擔，同時也可大幅降低碳排量與能源消耗，更可拉近各州都市間距離。這些因素促使美國重新考量興建高速鐵路之可能性，若未來美國決定興建，這將會是國際競相爭取的營建市場，但也迫使美國面臨興建高鐵所衍生的資金成本，營造方式及環境問題等嚴苛挑戰，這也使本研究欲以台灣促參之經驗針對財務方面提供經驗參考。 期望建造高速鐵路的國家不勝枚舉，但國家能否籌備足夠資金支持高速鐵路計劃是一個共通的問題。本研究希望藉由台灣高速鐵路之經驗，提供美國以及其它國家做參考，提出高速鐵路計劃引進私部門企業參與之優缺點；從政府的觀點來看可減輕政府財務負擔、引進私部門工程執行效率、政府風險轉移降低興建及營運失敗風險、須花費較長時間籌備相關法條及合約協商。本研究藉由專家訪談以及其問卷調查，歸納出美國高速鐵路以促參方式辦理須注意之關鍵因素；如專案融資實施、基礎條例、程序及特許團隊、合約內容與招選標程序、運量等，期望提供美國或欲採用促參建造高速鐵路之國家一個重要經驗參考及降低其風險及成本損失。To undertake the investment of a HSR project, the most challenging issue is the financing. During the development of the Taiwan High Speed Rail (HSR) project, in the 80s, it was decided to learn from Japan and European countries to build a dedicated HSR line. The government hoped to benefit from the advantages of the HSR and solve the problem faced in the domestic transportation sector. Due to financing difficulties the government made an important decision to build the HSR with private participation (Build-Operate-Transfer). Without previous experiences, the THSR is the first one of the HSR BOT project in the world at the time. The determination to have a successful HSR providing service to the Taiwanese people was the main goal of the government, and despites all the controversies and debates during the project life cycle, it was finally completed and started to provide service in 2007. After the Cold War, America became the world most powerful country economically and politically. In the last two decades the U.S. Federal Government had put its attention in the development of nationwide highway networks and airport systems, neglecting the development of the conventional railway system. Without any HSR line, many serious nature-caused catastrophes and energy crisis had lead to the oil-dependent America reconsider the long-neglected railway system. The development of HSR in America can reduce highway and airway burden, also can cut down country’s carbon dioxide emission and energy consumption. Most importantly, it can reduce the distance and barriers of different States and cities. These issues induced America to reconsider the possibility of HSR, if America decides to build HSR, will eventually turn itself to the biggest HSR market that the world wishes to participate. However the decision toward a HSR line also brings up financial, construction method and environmental issues. Therefore this thesis analyses Taiwan’s private participation experience (BOT) and proposes financial suggestions as reference. Countries interested to develop HSR are numerous, but countries that have enough resources and funding are rare. From Taiwan High Speed Rail experience, this study analyzes the advantages and disadvantages of a HSR project using BOT model. From the point of view of the government, advantages are to reduce financial burden, introduce private sector efficiency, and minimize the risk of construction and operation. However, disadvantages are time spending in the contract negotiation and the design of related laws. By expert interviews and survey analysis, this study points out key issues when implementing alternative financing in HSR: Implementation of project financing, basic acts to promote HSR, procedures and involvement, contract terms and bidding control procedures, ridership expectation, etc. This study aims to reduce risk and cost for countries seeking for alternative financing to execute their high-speed rail project