An Economic Analysis of Constructing an Additional Ramp along the Existing National Freeway within the Nantou Area
by Tung-Tsan Chen, (Associate Professor, Department of Construction Engineering, National Quemoy University, No.1 University Rd., Kinmen County, 892, Taiwan, R.O.C. E-mail: tungtsan@nqu.edu.tw) and Yao T. Hsu, (Associate Professor, Department of Transportation Technology and Management, Fung Chia University, Taiwan, R.O.C. E-mail: hsuyt@fcu.edu.tw)
Section: Economy and Management of Highway Engineering, pp. 170-178, (doi: http://dx.doi.org/10.1061/47634(413)22)
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| Document type: |
Conference Proceeding Paper |
| Part of: |
Road Materials and New Innovations in Pavement Engineering |
| Abstract: |
In order to solve the traffic congestion problems around Nantou area, the roadway network should be completely reviewed, especially for the National Highway 3’s interchange system. The key assess is the Zucih bridge located at the edge of the Nantou city with the station 228K+500 on the National Freeway 3. Well constructed interchange system will definitely improve the traffic congestion problem in Nantou City. After that the Nantou County will possess the advantages for developing the industrious field. The purpose of this study is to conduct a quantifiable and non-quantifiable benefit-cost analysis of the construction project in order to evaluate the economic benefits of the location and route of the Nantou interchange. To do this, benefit-cost ratio(B/C) and net present value(NPV) will be used as quantifiable indicators, while for non-quantifiable indicators (such as land value, property value, and commerce benefits) more concrete figures will be used when possible in order to fully understand the economic benefits of this project. Further steps were taken to analyze the feasibility of the proposed construction. The findings of our research are to be used to contribute to the project’s construction team. |
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