Meaning of "Build-operate-transfer (BOT)"

A form of concession where a private party or consortium agrees to finance, construct, operate and maintain a facility for a specific period and transfer the facility to the concerned government or port authority after the term of the concession. The ownership of the concession area (port land) remains with the government or port authority during the entire concession period. the concessionaire bears the commercial risk of operating the facility.

Build-operate-transfer (BOT) Meaning of