A Study On Economic Feasibility Evaluation Of PY Expressway Project

As the only route to develop modern traffic industry,the coustruction of most expressways has promoted regional economic growth and boosted living standards.However,some expressway projects which have invested heavily haven’t achieved the expected social and evonomic benefits.Therefore,evaluating the economic feasibility of the proposed expressway project scientifically,judging whether the project is economically feasible,can provide a powerful guaranatee for the correct decision-making and smooth operation of the project.Firstly,this paper summarizes the relevant theories of economic feasibility evaluation of expressway projects at home and abroad,then expounds the basic knowledge of traffic volume prediction and economic feasibility evaluation of expressway projects.On this basis,taking the proposed PY Expressway Project as the research object,the author collects basic datas of traffic and economy,then combines qualitative and quantitative method to predict the trend traffic,the induced traffic volume and the diverted traffic.Finally,the forecast total traffic volume of PY Expressway Project is obtained,as the reliable support for economic feasibility evalution of the project.After it,according to the investment estimate,fund raising scheme and the traffic forecast result,combining with the characteristics of the project,the economic feasibility evaluation is carried out from two aspects--national economic evaluation and financial evaluation.That is to analyze their costs and benefits,calculate the national economic and financial evaluation indicators by compiling cash flow statements,etc.,then conduct sensitivity analysises on the above two types of indicators.According to the results of each evaluation index,the author analyzes the national economic efficiency of the project and the impact on the society,evaluates the financial profitability and liquidity of the project,and judges the economic anti-risk ability of the project according to the sensitivity level.The result shows that the project is economically feasible.It will play a good role in improving road network,reducing operating costs,saving passenger time,improving regional road service level,and reducing traffic accidents.Therefore,after the project is completed,it will promote regional economic development,produce good national economic benefits and have a strong risk tolerance.In addition,the project will have certain financial profitability and liquidity,but its financial anti-risk ability will be weak.In response to this situation,this paper puts forward relevant suggestions.