| Author | Uthairith Rochanavibhata |
| Call Number | AIT Thesis no.IP-97-09 |
| Subject(s) | Local transit--Thailand--Bangkok--Fares
|
| Note | A thesis submitted in partial fulfillment of the requirements for the degree of Master of Engineering, School of Civil Engineering |
| Publisher | Asian Institute of Technology |
| Series Statement | Thesis ; no. IP-97-09 |
| Abstract | The congestion of traffic in Bangkok is now becoming a serious problem. The
government has been faced with a traffic congestion problem and they try to solve it by
taking measures such as accelerating road construction, increasing the number of public buses.
Implementing the mass rapid transit (MRT) system can be considered as one of the
alternatives. Up to now, no MRT system is in operation in Bangkok. The main reason why
no MR T systems are being operated yet is that huge amount of money is required to
construct and operate MRT systems. Traditionally infrastructure projects in Thailand are
financed directly from government budgetary resources and operated by public agencies.
MRT project is a part of basic public utility which should be actually managed by the
government. But the government has been faced with the lack of funds and therefore MRT
project can gain only a limited budget from the government. Increased constraints on
budgetary resources and a general trend towards privatization have changed the investment of
infrastructure projects. Now, private investors have opportunity to play a significant role in
infrastructure projects with the Build-Operate-Transfer (BOT) scheme. The nature of private
investors is that they invest only in profitable business and want to make the maximum
profit under given constraints. The ISP project is necessary to be implemented by public and
private sectors. There are two reasons why this project must use mixed financing. First, the
government view this project as a basic public utility and it can solve the traffic congestion.
But the government cannot provide the funds for entire the project. Second, the private
investor's viewpoint is that this project must have a reasonable financial return.
The main revenue ofISP project comes from the fare. Then the appropriate fare rate
is very important to make this project feasible. The fare rate ofISP project can be determined
by several method, such as formulate the mathematical model, optimization fare. In this
paper will be determined by using numerical criteria in financial analysis. The cash flow table
will be formulated entire during the concession period of 30 years by using program "Excel"
in Microsoft Office. In the cash flow table will be shown cash inflows and cash outflows of
the ISP project. From the results of financial analysis, it shows this ISP project is not
profitable for investment. As a fact, these appear to be a normal consequence of large scale
infrastructure investments such as the Initial System Project. In the viewpoint of private
investors, they should receive the financial return at the minimum market interest rate. For
the viewpoint of government, as the result shows, they loss the money in this project. But
this project is strongly needed in order to solve many problems especially traffic congestion.
The government therefore should subsidize the money to this project. This is because, at
least, this project can make the social & economic benefit. |
| Year | 1997 |
| Corresponding Series Added Entry | Asian Institute of Technology. Thesis ; no. IP-97-09 |
| Type | Thesis |
| School | School of Civil Engineering |
| Department | Department of Civil and Infrastucture Engineering (DCIE) |
| Academic Program/FoS | Infrastructure Planning and Management (IP) |
| Chairperson(s) | Lee, Byoung Nam; |
| Examination Committee(s) | Saeed, Khalid;Morisugi, Hisa;Chotchai Charoenngam ; |
| Scholarship Donor(s) | Royal Thai Government; |
| Degree | Thesis (M.Eng.) - Asian Institute of Technology, 1997 |