Feasibility Studies through Quantitative Methods: The Revamping of a Tourist Railway Line in Italy
Recently, the Italian government has approved a new law for public contracts and has been laying the groundwork for restarting a planning phase. The government has adopted the indications given by the European Commission regarding the estimation of the external costs within the Cost-Benefit Analysis, and has been approved the ‘Guidelines for assessment of Investment Projects’. In compliance with the new Italian law, the aim of this research was to perform a feasibility study applying quantitative methods regarding the revamping of an Italian tourist railway line. A Cost-Benefit Analysis was performed starting from the quantification of the passengers’ demand potentially interested in using the revamped rail services. The benefits due to the external costs reduction were also estimated (quantified) in terms of variations (with respect to the not project scenario): climate change, air pollution, noises, congestion, and accidents. Estimations results have been proposed in terms of the Measure of Effectiveness underlying a positive Net Present Value equal to about 27 million of Euros, an Internal Rate of Return much greater the discount rate, a benefit/cost ratio equal to 2 and a PayBack Period of 15 years.
Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1132034Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 434
 E. Cascetta, A. Cartenì, A. Carbone, “The quality in public transportation. The campania regional metro system” (“La progettazione quality-based nel trasporto pubblico locale. Il sistema di metropolitana regionale delia Campani”, Ingegneria Ferroviaria, 68 (3), pp. 241-261, 2013.
 E. Cascetta, A. Cartenì, A., F. Pagliara, M. Montanino, “A new look at planning and designing transportation systems: a decision-making model based on cognitive rationality, stakeholder engagement and quantitative methods”; Transport Policy 38. pp. 27–39, 2015.
 Rete Ferroviaria Italiana – RFI, https://www.rfi.it (last access march 2017)
 A. Cartenì, I. Henke; “Consenso pubblico ed analisi economico-finanziaria nel "progetto di fattibilità: Linee guida ed applicazione al progetto di riqualificazione della Linea ferroviaria Formia-Gaeta”, in Lulu edition, 2016.
 A. Cartenì, I. Henke: “External costs estimation in a cost-benefit analysis: the new Formia-Gaeta tourist railway line in Italy”, proceeding of the 17th IEEE International Conference on Environment and Electrical Engineering, Milan, Italy, 2017.
 G.E. Cantarella; S. de Luca S., A. Cartenì A.; “Stochastic equilibrium assignment with variable demand: theoretical and implementation issues”; European Journal of Operational Research, Volume 241, Issue 2. pp. 330–347, 2015.
 E. Cascetta, A. Cartenì, M. Montanino, “A behavioral model of accessibility based on the number of available opportunities”, Journal of Transport Geography 51, pp. 45–58, 2016.
 A. Cartenì, A., V. Punzo, “Travel time cost functions for urban roads: A case study in Italy”, WIT Transactions on the Built Environment 96, pp. 233-243,2007
 S. de Luca, A. Cartenì, A., “A multi-scale modelling architecture for estimating of transport mode choice induced by a new railway connection: The Salerno-University of Salerno-Mercato San Severino Route” (“Un'architettura modellistica multi-scala per la stima delle ripartizioni modali indotte da un nuovo collegamento ferroviario: il caso studio della tratta Salerno-Università di Salerno-Mercato San Severino”). Ingegneria Ferroviaria, 68 (5), pp. 447-473, 2013.
 G.N. Bifulco, A. Cartenì, A. Papola, “An activity-based approach for complex travel behaviour modelling”, European Transport Research Review, 2(4), pp. 209-221, 2010.
 A. Cartenì, “Updating demand vectors using traffic counts on congested networks: A real case application”, WIT Transactions on the Built Environment 96, pp. 211-221, 2007.
 Unità di Valutazione degli investimenti pubblici - UVAL; “Lo studio di fattibi-lità nei progetti locali realizzati in forma partenariale: una guida e uno strumen”, 2014.
 Ricardo-AEA DG MOVE; “Update of the Handbook on External Costs of Transport. Final Report.” in Report for the European Commission, 2014.