Feasibility Study Of CX Company ETC Free Flow Reconstruction Project Under Smart Expressway

With the amazing increase of economic as well as the upgoing of people’s vehicle ownership rate,the traffic pressure on expressways has increased a lot.Increasing the efficiency of highway transportation and reducing cost at the same time have become a top priority for the expressway industry.Nowadays,the coverage rate of ETC on expressways in our province is still low,and the traffic jam is increasing heavily day after day.The reconstruction of the original expressway through the ETC free-flow project,whether it can be technically realized,whether it is in line with the interests of finance,and whether the risks of the process in project realization and operation can be prevented are all difficult points in the project’s feasibility study.This article is based on the ETC free-flow reconstruction project under CX’s Intelligent Transportation.The key research construction are as below:(1)First of all,found out various types of documents related to smart highway,ETC free-flow,and highway feasibility studies.(2)Analyzed the current operating status of CX company,from the aspects of company’s transitional-period development,operating income growth and market demand Explained and demonstrated the necessity of the reconstruction of the ETC free flow project;(3)The polynomial regression method of machine learning that predict the future traffic volume growth brought about by the project construction,and pave the way for the subsequent toll income estimation;(4)Then this paper analyzes the project construction investment,operating period costs and benefits Estimate,draw up the project construction incremental cash flow statement,determine the expressway industry discount rate through CAPM,ROE and other methods,adopt the NPV method,IRR method and Pt to carry out the project Financial Evaluation.The evaluation results are as follow: the economic benefits of the reconstruction project are significant,and the sensitivity analysis has a strong ability to prevent risks;(5)Finally,this paper uses the APH method to identify and weight the project risk factors,focus on critical factors and finally put forward effective measures to protect against risks.Our country’s expressway network has been formed,and the transformation and expansion of existing expressways to achieve intelligence and modernization has become an important task for the change of the transportation industry in the future.Through this research,one reward is to provide a opportunity for companies to conduct investment evaluation of major engineering projects,another one is to provide examples and exploration ideas of how to deal with the evaluation of feasible study of future highway industry reconstruction projects.