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Abstract:
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The purposes of this study were to measure the operational efficiency of Public Private Partnership (PPP) project of Bangkok Mass Transit System Public Company Limited (BTSC) and to evaluate economic value in the extension station area both Silom and Sukhumvit line. The evaluation of operational efficiency of the extension station both routes by using Data Envelopment Analysis (DEA) was set the output variable as the Operating revenue and the input variables comprised of Maintenance cost, Train procurement cost, Fare management cost, Quantity of Passengers, Quantity of trains for services and BTS extension station service fee. The economic valuation through appraising land valuation in the area having most economic movements from 5 areas comprising Khlong-San district, Thonburi district, Pasi-Charoen district, Phra-Khanong district and Bang-Na district was evaluated by adapting Auto Regressive Integrated Moving Average (ARIMA) model to forecast land value based on concept of land valuation of Neutze (1987)
The results showed that the operation of BTS extension stations both Silom and Sukhumvit line have technical efficiency in cases of Constant Return to Scale (CRS), Variable Return to Scale (VRS) and Scale Efficiency (SE) equal to 1 this imply that the operation of BTS extensions were efficient because both of these projects was operated appropriately on the quantity of passengers, the quantity of train for services, Maintenance cost, Train procurement cost, Fare management cost and BTS extension station service fee. The results of economic valuation showed that “Phasi-Charoen district" has the most economic movement. In 2016, there are 127,582 populations living in the area, 376 shelters allowed to be built in the area, 75 commercial buildings permitted to be built in the area and the land and property tax revenue after starting of BTS extension service (2013 – 2016) has been increased to 18.86 % from period without project (2010 – 2012). The forecasting of land valuation in the future showed that land price tended to increase continuously after the construction of the extension stations because of “expectation” of land owners. When the construction of the extension stations start, land owners will be able to make profit form increasing of land use such as; development from vacant land to residential or commercial building, etc. The expected use of land, resulting in future land prices increase. Therefore, the land is sold at a higher price as soon as the land owners receiving information that land will be developed.
Keywords: Public Private Partnership, Efficiency evaluation, BTS Sky train, Economic value, Land price
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