With the fast development in industry and commerce in Taiwan in recent years, a great deal of waste is called into being. Because the waste yards in every region reach saturation sequentially, it has become the domestic trend to build recycling plants in order to properly cope with the garbage problems. However, the conventional way the government puts up capital to build public works has to be confronted with adjustment owe of the governmental functions and the limits in finance. Therefore, privatizing the public works to introduce the non-governmental flexible operating methods and getting abundant capital to speed up the establishment of recycling plants and efficient operating goals have become the new critical points of public works in governmental environmental protection. The establishment of recycling plants takes a large number of funds and long period, during which there are many variables and high risk, and the main consideration of BOT invested by private enterprises is the rate of return on investment, so private enterprises have to study and analyze very carefully and map out the investment policies about how to carry out an investment evaluation and how to minimize or circumvent all kinds of risks in the executive process. Aimed at BOT¡¦s special properties of recycling plants, this research adopts the cash flow analysis and probes into the financial projects and risk control to provide the reference materials to factory owners who are interested in BOT and also the consideration of amending the BOT-related provisions to the relevant departments in government.