FINANCIAL ANALYSIS OF THE PADALARANG – BANDUNGFEEDER TRAIN AS A KCJB FEEDER

• Main Author: Alfat Rizki Pratama, Muhammad
• Format: Theses
• Language: Indonesia
• Subjects: Teknik sipil
• Online Access: https://digilib.itb.ac.id/gdl/view/84229
• Institution: Institut Teknologi Bandung

The Padalarang – Bandung Feeder Train is planned as a supporting mode of transportation for the Jakarta – Bandung High-Speed Train (KCJB), connecting passengers to and/or from downtown Bandung. This study aims to assess the financial feasibility of the feeder train. The data were collected through a questionnaire survey using proportionate sampling method from Cochran, interviews, and literature studies. The analysis includes passenger characteristics, costs based on PM Perhubungan 64 of 2016, benefits such as average passenger cost (BPPR), 5% above BPPR, 10% above BPPR according to PM Perhubungan 64 of 2016 and WTP, and financial feasibility review with assumptions on tariff and compensation review consisting of components NPV, BCR, IRR, ROI, PBP, and BEP. Financial feasibility sensitivity was tested against interest rates and the range of analysis years. Based on the analysis, the willingness to pay (WTP) of passengers is determined to be Rp19,700. The analysis shows that financial viability is only achieved when the tariff is set equal to the WTP, with IRR results of 27.32% for the conservative scenario, 29.42% for the moderate scenario, and 30.45% for the optimistic scenario. In contrast, financial viability is not achieved under any compensation review. Furthermore, sensitivity analysis with a maximum interest rate of 8.48% and a minimum analysis period of 35 years confirms that financial viability is only achieved with a tariff equal to the WTP. If the tariff is implemented based on BPPR, 5% above BPPR, and 10% above BPPR (Rp9,800 - Rp11,400), financial viability is not achieved. To achieve financial viability, the tariff needs to be increased above BPPR by 14.78% for the conservative scenario, 13.89% for the moderate scenario, and 13.31% for the optimistic scenario, with a 30-year analysis period.