Planning of Sukabumi – Padalarang Toll Road in View of Economic and Financial Feasibility

Abstract

Construction planning of the Sukabumi - Padalarang toll road requires economic and financial considerations. Economic consideration is required to find out the advantage of the existence of the Sukabumi-Padalarang toll road towards the local communities. On the other hand, financial consideration is required as a reference in investment to know that the toll road is an efficient plan. Therefore, it is necessary to conduct the Planning of the Sukabumi - Padalarang Toll Road in View of Economic and Financial Feasibility in order to determine whether the toll road is feasible to be built. The method used to analyze the Vehicle Operating Cost (VOC) and time value was Jasa Marga Method. BCR and NPV parameters were used to analyze the economic feasibility aspect as the feasibility reference. In addition, the financial feasibility of profits analyzing was obtained from toll road revenue using the planned rates and BCR, NPV, and IRR parameters as feasibility references. The analysis obtained the economic feasibility of 2,51 > 1, and the NPV value of IDR 11.582.529.466.479,80 > 0. Financial feasibility obtained that the BCR value of 2,47 > 1, NPV value of IDR 11.250.417.138.120,8 > 0, and IRR value of 10,11 % > 5,63 % (MARR) as well as payback period for 2 years, 10 months, and 3 days. According to the results, it can be concluded that the construction of the Sukabumi - Padalarang toll road was feasible from economic and financial aspects.