ECONOMIC ANALYSIS, FINANCIAL ANALYSIS AND PROJECT STRUCTURE ON THE HIGH SPEED RAILWAY: CASE STUDY ON THE BEIJING SHANGHAI RAILWAY PROJECT

摘要

This paper presents the results of economic and financial analysis an examination and an evaluation of alternatives for a high-speed railway project structure with the example of Beijing-Shanghai high-speed railway in China. Two cases of enterprise are examined in the study. One is Ministry of Railways same as at present and another one is the independent enterprise. As the possession of infrastructure and operation, the case of the vertical separation type of and the vertical integration type of both of them is examined. The economic analysis shows that the high-speed railway would create the high economic efficiency and the social value. Financial analysis shows that the project would be feasible though it depends on the project structure. Moreover, qualitative evaluation items for selecting project structure are examined and alternatives are evaluated.