Feasibility Study Of The Yogyakarta – Bawen Toll Road Construction Project Package 1 (Section 1 – Section 3) Reviewed From Financial And Economy Aspect

Prastowo, Dinda Amalia Dewi (2026) Feasibility Study Of The Yogyakarta – Bawen Toll Road Construction Project Package 1 (Section 1 – Section 3) Reviewed From Financial And Economy Aspect. Other thesis, Institut Teknologi Sepuluh Nopember.

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Abstract

The Yogyakarta–Bawen Toll Road is one of Indonesia's National Strategic Projects (PSN), developed to improve regional connectivity between the Special Region of Yogyakarta and Central Java, enhance transportation efficiency, and support regional economic growth. Considering the substantial investment required and the long concession period, a comprehensive feasibility study is necessary to evaluate the project from traffic performance, economic, and financial perspectives. This study aims to assess the feasibility of the Yogyakarta–Bawen Toll Road Construction Project Package 1 (Section 1–Section 3). A quantitative research approach was employed using both primary and secondary data. Primary data were obtained through 24-hour traffic counting surveys conducted over two consecutive days, while secondary data included Annual Average Daily Traffic (AADT), investment costs, toll tariffs, inflation rates, and other supporting economic indicators. Traffic performance was analysed using the Pedoman Kapasitas Jalan Indonesia (PKJI) 2024, while Vehicle Operating Cost (VOC) was estimated using the Jasa Marga method. Traffic diversion between the arterial road and the toll road was determined using the Smock traffic assignment method. Economic and financial feasibility were evaluated using the Benefit–Cost Ratio (BCR), Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period (PP). The results indicate that the existing road network is generally capable of accommodating future traffic demand, with Degree of Saturation (DS) values remaining below the critical level. Based on the Smock traffic assignment method, traffic diversion to the toll road varies by segment, ranging from 60% to 100%, while the remaining traffic continues to use the existing arterial road. From the economic perspective, the project achieved an Economic Benefit–Cost Ratio (EBCR) of 3.66, an Economic Net Present Value (ENPV) of Rp34,793,114,767,787.0, an Economic Internal Rate of Return (EIRR) of 12.73%, and an Economic Payback Period (EPP) in 2038, indicating that the project is economically feasible. However, from the financial perspective, the project generated a Financial Benefit–Cost Ratio (FBCR) of 1.717, a Financial Net Present Value (FNPV) of Rp9,387,058,979,989.40, and a Financial Internal Rate of Return (FIRR) of 8.14%, with expected payback period achieved in 2049, indicating that the project is financially feasible under the current assumptions. Overall, although the project provides significant economic benefits and improves regional connectivity, its financial viability requires further optimization through appropriate financing strategies, government support, or adjustments to toll tariff policies.

Item Type:	Thesis (Other)
Uncontrolled Keywords:	Feasibility Studies, Economic Analysis, Financial Analysis, Vehicle Operating Cost, Sustainable Cities and Communities
Subjects:	Q Science
Divisions:	Faculty of Civil Engineering and Planning > Civil Engineering > 22201-(S1) Undergraduate Thesis
Depositing User:	Dinda Amalia Dewi Prastowo
Date Deposited:	05 Aug 2026 03:35
Last Modified:	05 Aug 2026 03:35
URI:	http://repository.its.ac.id/id/eprint/141873

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