Economic Analysis of Flexible Pavement in Road Construction
Roads and Highways are vital lifelines. Roads are needed for accessibility and for transporting of people, goods and services. Roads are therefore needed for socio-economic purposes. This research aims at assessing the economic suitability of asphalt pavement in road construction. The objective of the research is to carry out investment appraisal on road project undertaken using asphalt pavement and to determine its lifecycle costs and initial cost of construction. The findings were as follows ; the initial cost of the asphalt pavement was cheaper GHS 1,283,700.00 per kilometer. The lifecycle costs of asphalt pavement was GHS 1,931,807.12 per Kilometer. Investment appraisal methods were in favour of the asphalt pavement.
Keywords: Road, Highway, Investment Appraisal, Pavement.