COMPARABILITY IN ROAD AND RAIL INVESTMENT APPRAISAL: THE TRANS- PENNINE RAIL STUDY EXAMPLE

In recent years, there has been much discussion of whether road and rail transport are close substitutes for each other, and of whether the current British approach to evaluating transport infrastructure investment disadvantages rail schemes relative to highway projects. The paper describes how these issues were addressed during the Trans- Pennine Rail Strategy Study. This study developed strategies for investment in the Trans-Pennine rail network, using an approach consistent with Department of Transport forecasting techniques. The paper describes the study, the approach used and the results obtained. It discusses the impact of alternative evaluation criteria on the viability of the strategies. Criteria considered were financial, economic and the hybrid "Section 56 Grant" approach. Some conclusions are reached on methods of achieving comparability and the impact of current appraisal rules on investment decisions. (A) For the covering abstract of the seminar see IRRD 859831.

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/isbn/0860502430
• Corporate Authors:

  PTRC Education and Research Services Limited

  Glenthorne House, Hammersmith Grove
  London W6OL9,   England 
• Authors:
  • VAUGHAN, B C
  • TEMPLE, S R
  • GANE, D J
• Conference:
  • TRANSPORT POLICY AND ITS IMPLEMENTATION. PROCEEDINGS OF SEMINAR C HELD AT THE PTRC EUROPEAN TRANSPORT, HIGHWAYS AND PLANNING 20TH SUMMER ANNUAL MEETING (SEPTEMBER 14-18 1992), UMIST. VOLUME P355
• Publication Date: 1992

Language

• English

Media Info

• Features: References;
• Pagination: p. 65-76

Subject/Index Terms

• TRT Terms: Benefit cost analysis; Conferences; Evaluation and assessment; Highways; Investments; Public transit; Railroad transportation
• Geographic Terms: United Kingdom
• Subject Areas: Data and Information Technology; Finance; Planning and Forecasting; Public Transportation; Railroads;

Filing Info

• Accession Number: 00641075
• Record Type: Publication
• Source Agency: Transport Research Laboratory
• ISBN: 0-86050-243-0
• Files: ITRD, ATRI
• Created Date: Jan 24 1994 12:00AM