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Asian Institute of Technology ELECTRONIC DOCUMENTATION FORM

This form will include the following details: 1. Report Title and Type (Thesis/Research Study/Special Study/etc) Application of Capital Structure Optimization Model for PPP Projects: The Case Study of Civil Aviation Training Center of Thailand (Thesis) 2. Name of the Author Aung Khin Tun 3. Name(s) of Advisor and Committee Members Dr. Chotchai Charoenngam (Chairperson) Dr. Pannapa Herabat Dr. Bonaventura H. W. Hadikusumo 4. Field of Study Construction Engineering and Infrastructure Management 5. Address (School) School of Engineering and Technology 6. 7. 8. External Examiner (for Dissertations only) Expert Comments on the Work and Facility for the Feedback from the Users Abstract of the Work

The development of PPP projects has been growing rapidly, and numerous projects have been implemented around the world. Public-Private Participation (PPP), in other words, is the initiated combination of capital investment from the public sector and the private sector. One key aspect to the successful implementation of the PPP project in any country is the raising of finance by project sponsors. Financial engineering techniques and capital structuring skills are required to find the proper mix of debt and equity and to

achieve successful financing for the proposed project. The objective of this research is to present a simplified model to determine the optimum equity level for decision-makers at the evaluation stage of the PPP project, which takes place after the completion of the feasibility study. The resulting model is the combination of optimization model developed in Microsoft Excel with the function of determining the optimal equity level from the equity holders point of view. To show versatility of the model, a real case study (Civil Aviation Training Center of Thailand) is conducted. Thus, this research is concerned with the determination of an equity funding level in PPP project development. There are different equity levels found in this kind of program, and there is a need for such a model to determine optimal capital structure, which would assist the project sponsors to ensure that the equity level necessary for optimal capital structure is available prior to the project implementation stage. 9. Keywords (minimum 5; maximum 10) Project Financing, PPP, Optimization Model 10. Bibliographic data

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Each thesis/dissertation should have an ISBN Code Number, which would be the responsibility of the AIT Library. The requested details above have to be submitted in a single PDF file to the library.