ANALISIS KELAYAKAN FINANSIAL PERLUASAN AREA PARKIR STASIUN KERETA CEPAT HALIM MENGGUNAKAN COST-BENEFIT ANALYSIS

Abstract

The need for adequate parking facilities is increasing in line with the growing number of passengers on the Jakarta–Bandung High-Speed Rail at Halim Station. This situation has prompted the need to expand parking capacity from the initial plan of 173 vehicles to 257 vehicles. This study aims to analyse the economic feasibility of the car park expansion project using the Cost-Benefit Analysis (CBA) method. The study employs a descriptive-analytical quantitative approach using secondary project data. The analysis was conducted by calculating the Net Present Value (NPV), Internal Rate of Return (IRR) and Benefit-Cost Ratio (BCR), with a 10-year projection period (2025–2034) and a discount rate of 8 per cent. The results of the analysis show an NPV of Rp173,202,604.84, an IRR of 38 per cent, and a BCR of 11.6. A positive NPV, an IRR higher than the discount rate, and a BCR greater than 1 indicate that the project meets the criteria for economic feasibility based on the assumptions and projections used. Consequently, the project to expand the Halim Station car park is deemed economically viable and should proceed. The findings of this study may serve as a basis for decision-making regarding investment in car park infrastructure, whilst taking into account the uncertainty surrounding future revenue projections and operational costs.