Abstract:
This thesis valuates economic benefits and costs of implementing Super-express Floodway Project during 30 years. The costs of the project include 1) construction cost of 7,562 million baht per year during the first 3 years; 2) maintenance cost of 34 million baht per year; 3) expropriation cost of around 32,927 million baht; and 4) subsidiary cost for former landlords of 746 million baht per year. The benefits of the project is calculated from 1) benefit from flooding avoidance, which is estimated using damage value of 2011 massive flood at 1,178,579 million baht; 2) mental benefit of flood avoidance of 126,729 million baht; 3) reduced transportation cost as a result of new road, which is estimated to be at 348 million baht per year; and 4) an increase in agricultural product 3,028 million baht.With 12% discount rate, NPV of the project is calculated to be 72,201 million baht with B/C Ratio of 2.73, and internal rate of return (IRR) of 16.89. The findings show that the project is economically feasible and the feasibility holds even with a 20% increase in its costs. The value of the project depends on how frequent and when massive flood will happen.