FINANCIAL FEASIBILITY STUDY OF PANGKALAN BRANDAN – LANGSA TOLL ROAD PROJECT

• Main Author: Muliawan, Mahar
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/85747
• Institution: Institut Teknologi Bandung

To accelerate development on Sumatra Island and support national economic growth, the government issued Presidential Regulation No. 100 of 2014 regarding the construction of toll roads in Sumatra, assigning PT Hutama Karya (Persero) to undertake the development and management of the Trans Sumatra Toll Road. This regulation has undergone three amendments. The first amendment, Presidential Regulation No. 117 of 2015, added 20 toll road sections, including Binjai – Langsa. The second amendment, Presidential Regulation No. 131 of 2022, divided the Binjai – Langsa section into two phases. The third amendment, Presidential Regulation No. 42 of 2024, changed the construction phase of Binjai – Langsa from Phase III to Phase II, covering the Binjai – Pangkalan Brandan and Pangkalan Brandan – Langsa. This study evaluates the financial feasibility of the Pangkalan Brandan – Langsa Toll Road project by calculating Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period (PP), Discounted Payback Period, and Profitability Index (PI). The results show a positive Net Present Value (NPV) of IDR 12,773,885,792,000, an Internal Rate of Return (IRR) of 13.26% (above the discount rate of 9.22%), a Payback Period of 16.4 years, a Discounted Payback Period of 27.7 years, and a Profitability Index (PI) of 2.5190, indicating financial feasibility. Timely execution of the project is recommended to avoid cost overruns.