Flexible Design of Airport System Using Real Options Analysis - MIT

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12/14/2007 1.231 Planning and Design of Airport System Dai Ohama Japan Tokyo Chiba Kyoto Osaka Tokyo Yokohama Tokyo Bay Haneda Airport Figure 2-1 Location Figure 2-2 Tokyo Int’l Airport Source: Ministry of Land, Infrastructure and Transport in Japan, Kanto Regional Development Bureau [2] 2.2 Runway Extension Project However, its capacity has already reached a limit of airport capacity against the increasing demand, and it is necessary to respond to the demand as soon as possible. In order to solve this problem, Tokyo International Airport Extension Project was launched in 2002 to build 4 th runway, which is called Runway D, to increase the total capacity of the airport. [2] This extension enables the airport to have the capacity from of 296,000 a/c per year to 407,000 a/c per year. Runway B Runway C Runway A Extension Project “Runway D” (Under Construction) Figure 2-3 Plan of New Runway Island in Haneda Airport Source: Ministry of Land, Infrastructure and Transport in Japan, Kanto Regional Development Bureau [2] Term Project: Flexible Design of Airport System Page 2 of 22
12/14/2007 1.231 Planning and Design of Airport System Dai Ohama The new runway will be constructed on the artificial island approximately 3,000 meters long and 500 meters wide, on the south side of the airport. As the new runway island is planned in the estuarine waters of the Tama River, the course of the river shall not be affected by reclaimed island. Therefore, pile elevated platform is applied for the part in the river mouth, and reclamation is applied for the part outside the alignments of the river mouth. Two taxiway bridges for aircraft connecting the existing airport to the new runway island, 600 meters long and 60 meters wide, are planned as well. Pile elevated platform of the new runway island is 1,100 meters long and 500 meters wide in total. It is a jacket structure composed of approx. 200 steel jacket units 60 meters long and 45 meters wide. The water depth at the construction site is 15 to 19 meters, and the river has 30 to 40 meters thick sedimentary layers of soft clayey soil. Thus, long steel pipe piles are used as bearing piles for the pile elevated platform. Figure 2-4 Structure of Runway D Source: Ministry of Land, Infrastructure and Transport in Japan, Kanto Regional Development Bureau [2] By the end of the fiscal year of 2006, the design has been completed, the construction started in March 2007, and it is supposed to be in service in December 2010. 2.3 Current Design is Optimal? As discussed above, the new runway is expected not only to improve the airport capacity but also to bring about a major impact on the overall economy. However, is this Term Project: Flexible Design of Airport System Page 3 of 22
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