President of ACUUS
National Technical University of Athens, Greece
Economic analysis for underground space
The main objective of the session is to address the critical questions regarding the economic aspects of underground space development. While the advantages of going underground or the technical requirements to do so can be analyzed to a great extent, it is quite the opposite when the following questions need to be addressed: “How much does it cost?”, “Is it worth the cost?”, “What is the cost of the alternatives?”.
The presentation provides an outlook of the main economic figures of the construction sector worldwide, with a specific focus on tunneling and underground construction. Based on the available data from public works and relevant publications, the construction cost of various types of underground projects (tunnels, caverns, metros, storage facilities, etc.) is discussed. Furthermore, the presentation attempts to shed light on the cost comparison between underground and surface alternatives. Finally, the important parameter of the externalities in underground projects (social and environmental) are being analyzed. The monetized external benefits of underground projects is a critical factor towards having a sound evaluation process of the existing alternatives.