Elaboration of Feasibility study and Cost Benefit analysis, as well as the preparation of major project application to the E.U. for the railway connection Athens – Patras, including the connections to the city and the new (south) port of Patras. The feasibility study includes the analysis of alternative alignments, regarding both the construction and the operation of the railway line and consideration of the relative financial and socio-economic outputs.
The project refers to the railway line connecting the Intermodal Acharnes Railway Center (ARC) north of Athens to the new port of Patras with a total length of approx. 212kms (see Figure 1). The project has been studied as a high-speed double railway line with full electrification and modern signaling and tele-commanding (ETCS) and communications (ERMS) systems. The project has been completed and is under operation at its first 104kms from AIRC to Kiato station. The next 76kms up to Rododafni station are under construction to be completed by 2015, in the following 28kms up to Rio area construction has recently started to be completed by 2017 and the final 9kms in the Patras urban area are currently under study.
The objective of this study was the elaboration of a Feasibility study and a Cost – Benefit analysis for the entire Axis from Athens to Patras. The study included a first part for identification of alternative alignments for the final urban section from Rio to Patras (new port). Following a multicriteria Analysis and in consultation with the Municipality of Patras, the Port Authority and the Service, two alternative alignments were proposed for further techno-economic evaluation (Surface alignment-solution 2A, underground alignment- solution 3).
For the purposes of the CBA ,the areas of influence of the project and the socio – economic environment were analytically determined and traffic forecasts were estimated for both passenger and freight future demand on the line.
In relation to freight transport the role of the line was proposed to be enhanced by the establishment of a new logistics transport chain, which includes the line under examination and combined transport by sea and road modes to Central and Western Europe. Ttraffic forecasts were produced and used as input data in the cost-benefit analysis which included both financial and economic and socio – economic Analysis.
The reference period of financial and economic analyses was determined to be 25 years after the completion of the whole investment, which in connection with the planning of the final section extends the period until 2045. The actual discount rates (in constant prices) is 5 % for the financial analysis and 5.5 % for the socio-economic analysis – which are at constant 2013 prices (except where specifically stated current prices).
- Analysis of alternative alignments for “WITH” AND “WITHOUT THE PROJECT” scenarios.
- Estimation of the existing and future transport demand with the use of a 4-step traffic model.
- Estimation of construction costs and operation and maintenance costs for each alternative alignment
- Estimation of anticipated revenues for each alternative
- Financial evaluation
- Socio-economic evaluation
- Sensitivity and risk analysis