Feasibility Study for the Solo - Yogyakarta - NYIA Kulonprogo Toll Road in Term of Economic and Financial Aspect

Jalan Tol Solo Yogyakarta merupakan Jalan Tol yang menghubungkan Kota Solo -Yogyakarta serta akses menuju destinasi pariwisata nasional seperti Candi Prambanan. Selain itu Jalan Tol Solo -Yogyakarta dapat mempersingkat waktu perjalanan menuju ke Bandara Internasional Yogyakarta, karena selama jalur Solo - Yogyakarta merupakan jalur yang sangat padat sehingga menimbulkan kemacetan.. Selain itu, dibangunnya Jalan Tol Solo - Yogyakarta - YIA Kulon Progo juga memiliki peran penting bagi peningkatan perekonomian masyarakat pada segitiga emas sektor pariwisata Wilayah Joglosemar. Dalam perencanaan Jalan Tol Solo -Yogyakarta diperlukan pertimbangan aspek ekonomi dan finansial untuk menjadi acuan proses investasi supaya dapat diketahui kelayakan pembangunannya. Sehingga perlu dilakukan studi kelayakan Jalan Tol Solo –Yogyakarta ditinjau dari aspek ekonomi dan finansial untuk mengetahui besaran penghematan Biaya Operasi Kendaraan (BOK) dan Nilai Waktu (Time Value), serta besaran pemasukan dari pembayaran tarif tol jika Jalan Tol Solo -Yogyakarta telah beroperasi. Data yang diperlukan untuk menganalisis kelayakan Jalan Tol Solo - Yogyakarta adalah data geometrik jalan eksisting, jalan tol, dan data lalu lintas yang didapatkan dari data sekunder. Data tersebut digunakan untuk menganalisis kinerja jalan sebelum dan sesudah adanya jalan tol, mencari persentase perpindahan kendaraan dengan Trip Assignment, menganalisis penghematan Biaya Operasi Kendaraan (BOK) dan Nilai Waktu (Time Value), pemasukan akibat tarif tol, serta kelayakan Jalan Tol Solo - Yogyakarta dari aspek ekonomi dan finansial. Analisis Trip Assignment menggunakan metode Smock, Diversion Curve, dan Davidson. Dari ke-3 metode tersebut akan digunakan metode dengan hasil yang valid. Pada perhitungan penghematan Biaya Operasional Kendaraan (BOK) dan Nilai Waktu (Time Value) akan digunakan metode Jasa Marga. Untuk analisis aspek kelayakan ekonomi akan menggunakan parameter Benefit Cost Ratio (BCR), Net Present Value (NPV), dan Economic Internal Rate of Return (EIRR) Untuk aspek kelayakan finansial akan menggunakan parameter Benefit Cost Ratio (BCR), Net Present Value (NPV), Financial Internal Rate of Return (FIRR), Payback Period (PP), dan besaran Viability Gap Funding (VGF). Berdasarkan hasil analisis kelayakan ekonomi, diperoleh BCR sebesar 1,128 (BCR > 1), NPV sebesar Rp 3.941.991.820.721 (NPV > 0), dan EIRR sebesar 5,274 % (EIRR > Suku Bunga). Pada hasil analisis kelayakan finansial diperoleh BCR sebesar 2,780 (BCR >1), NPV sebesar Rp 54.999.421.211,975 (NPV > 0), FIRR sebesar 9,784 % (FIRR > Suku Bunga), dan PP pada tahun ke-20. Karena nilai FIRR < MARR (12%), maka diperlukan Viability Gap Funding sebesar 2,216 % supaya tingkat pengembalian (FIRR) sesuai dengan MARR. Berdasarkan analisis tersebut, Jalan Tol Solo - Yogyakarta dinyatakan layak secara aspek ekonomi dan finansial namun membutuhkan Viability Gap Funding. ==================================================== Solo Yogyakarta Toll Road is a Toll Road that connects Solo City -Yogyakarta as well as access to national tourism destinations such as Prambanan Temple. In addition, the Solo -Yogyakarta Toll Road can shorten the travel time to Yogyakarta International Airport, because as long as the Solo -Yogyakarta route is a very congested route, it causes congestion. In addition, the construction of the Solo - Yogyakarta - YIA Kulon Progo Toll Road also has an important role for improving the community's economy in the golden triangle of the tourism sector in the Joglosemar Region. In planning the Solo-Yogyakarta Toll Road, it is necessary to consider economic and financial aspects to become a reference for the investment process so that the feasibility of the construction can be determined. So it is necessary to carry out a feasibility study for the Solo-Yogyakarta Toll Road in terms of economic and financial aspects to determine the amount of savings in Vehicle Operating Costs (VOC) and Time Value, as well as the amount of income from toll tariff payments if the Solo-Yogyakarta Toll Road is already in operation. The data needed to analyze the feasibility of the Solo - Yogyakarta Toll Road is the geometric data of existing roads, toll roads and traffic data obtained from secondary data. The data is used to analyze road performance before and after the existence of the toll road, find the percentage of vehicle movement with Trip Assignment, analyze the savings in Vehicle Operating Costs (VOC) and Time Value, income due to toll rates, and the feasibility of the Solo - Yogyakarta Toll Road. from an economic and financial perspective. Trip Assignment analysis uses the Smock, Diversion Curve, and Davidson methods. Of the 3 methods, a method with valid results will be used. In calculating the savings in Vehicle Operating Costs (VOC) and Time Value, the Jasa Marga method will be used. For the analysis of the economic feasibility aspect, Benefit Cost Ratio (BCR), Net Present Value (NPV), and Economic Internal Rate of Return (EIRR) parameters will be used. For the financial feasibility aspect, Benefit Cost Ratio (BCR) will be used, Net Present Value (NPV) ), Financial Internal Rate of Return (FIRR), Payback Period (PP), and the amount of Viability Gap Funding (VGF). Based on the results of the economic feasibility analysis, a BCR of 1.128 (BCR > 1) was obtained, an NPV of IDR 3,941,991,820,721 (NPV > 0), and an EIRR of 5.274 % (EIRR > Interest Rate). The results of the financial feasibility analysis obtained a BCR of 2.780 (BCR > 1), an NPV of IDR 54,999,421,211.975 (NPV > 0), a FIRR of 9.784 % (FIRR > Interest Rate), and PP in the 20th year. However, due to the value of FIRR < MARR (12%), a Viability Gap Funding of 2,216 % is needed so that the rate of return (FIRR) is in accordance with MARR. Based on this analysis, the Solo - Yogyakarta Toll Road is declared feasible from an economic and financial perspective but requires Viability Gap Funding