Abstract: Transport infrastructures are high-cost, long-term investments that serve as vital foundations for the operation of a region or nation and are essential to a country’s or business’s economic development and prosperity, by improving well-being and generating jobs and income. The development of appropriate financing options is of key importance in the decision making process in order develop viable transport infrastructures. The development of transport infrastructure has increasingly been shifting toward alternative methods of project financing such as Public Private Partnership (PPPs) and hybrid forms. In this paper, a methodological decision-making framework based on the evaluation of the financial viability of transportation infrastructure for different financial schemes is presented. The framework leads to an assessment of the financial viability which can be achieved by performing various financing scenarios analyses. To illustrate the application of the proposed methodology, a case study of rail transport infrastructure financing scenario analysis in Greece is developed.
Abstract: Factors affecting construction unit cost vary
depending on a country’s political, economic, social and
technological inclinations. Factors affecting construction costs have
been studied from various perspectives. Analysis of cost factors
requires an appreciation of a country’s practices. Identified cost
factors provide an indication of a country’s construction economic
strata. The purpose of this paper is to identify the essential factors
that affect unit cost estimation and their breakdown using artificial
neural networks. Twenty five (25) identified cost factors in road
construction were subjected to a questionnaire survey and employing
SPSS factor analysis the factors were reduced to eight. The 8 factors
were analysed using neural network (NN) to determine the
proportionate breakdown of the cost factors in a given construction
unit rate. NN predicted that political environment accounted 44% of
the unit rate followed by contractor capacity at 22% and financial
delays, project feasibility and overhead & profit each at 11%. Project
location, material availability and corruption perception index had
minimal impact on the unit cost from the training data provided.
Quantified cost factors can be incorporated in unit cost estimation
models (UCEM) to produce more accurate estimates. This can create
improvements in the cost estimation of infrastructure projects and
establish a benchmark standard to assist the process of alignment of
work practises and training of new staff, permitting the on-going
development of best practises in cost estimation to become more
effective.
Abstract: The potential feasibility of a 9.5 MWe capacity rice straw power plant project in Thailand was studied by evaluating the rice straw resource. The result showed that Thailand had a high rice straw biomass potential at the provincial level, especially, the provinces in the central, northeastern and western Thailand, which could feasibly develop plants. The economic feasibility of project was also investigated. The financial feasibility is also evaluated based on two important factors in the project, i.e., NPV ≥ 0 and IRR ≥ 11%. It was found that the rice straw power plant project at 9.5 MWe was financially feasible with the cost of fuel in the range of 30.6-47.7 USD/t.
Abstract: A feasibility study for the design and construction of a
pilot plant for the extraction of castor oil in South Africa was
conducted. The study emphasized the four critical aspects of project
feasibility analysis, namely technical, financial, market and
managerial aspects. The technical aspect involved research on
existing oil extraction technologies, namely: mechanical pressing and
solvent extraction, as well as assessment of the proposed production
site for both short and long term viability of the project. The site is
on the outskirts of Nkomazi village in the Mpumalanga province,
where connections for water and electricity are currently underway,
potential raw material supply proves to be reliable since the province
is known for its commercial farming. The managerial aspect was
evaluated based on the fact that the current producer of castor oil will
be fully involved in the project while receiving training and technical
assistance from Sasol Technology, the TSC and SEDA. Market and
financial aspects were evaluated and the project was considered
financially viable with a Net Present Value (NPV) of R2 731 687 and
an Internal Rate of Return (IRR) of 18% at an annual interest rate of
10.5%. The payback time is 6years for analysis over the first 10
years with a net income of R1 971 000 in the first year. The project
was thus found to be feasible with high chance of success while
contributing to socio-economic development. It was recommended
for lab tests to be conducted to establish process kinetics that would
be used in the initial design of the plant.
Abstract: This paper aims at developing a multilevel fuzzy
decision support model for urban rail transit planning schemes in
China under the background that China is presently experiencing an
unprecedented construction of urban rail transit. In this study, an
appropriate model using multilevel fuzzy comprehensive evaluation
method is developed. In the decision process, the followings are
considered as the influential objectives: traveler attraction,
environment protection, project feasibility and operation. In addition,
consistent matrix analysis method is used to determine the weights
between objectives and the weights between the objectives-
sub-indictors, which reduces the work caused by repeated
establishment of the decision matrix on the basis of ensuring the
consistency of decision matrix. The application results show that
multilevel fuzzy decision model can perfectly deal with the
multivariable and multilevel decision process, which is particularly
useful in the resolution of multilevel decision-making problem of
urban rail transit planning schemes.