The potential of one of the leading tourism objects in Blora Regency, Loco Tour Cepu, is currently being further explored to continue to be developed and optimized. With the feasibility study carried out, the Blora Government hopes to determine the feasibility and direction of the planned asset development for the Loco Tour Cepu Area by market preferences and opportunities around it.
Its location, located at a strategic node connecting Ngawi Regency with Bojonegoro Regency and the City of Surabaya, is one of the reasons the Blora Government plans to reactivate the heritage railroad track for the Loco Tour Cepu - Gubug Payung area, which is approximately 22.6 KM long.
Loco Tour tourism development's main concept is the Complete Heritage Train Experience. This concept puts forward a train tourism experience which is realized by activating the Loco Tour rail, developing historical and cultural tourism, developing tourism oriented towards natural landscapes, and integrating several leading tourist destinations in Blora Regency. Three sub-concepts support this main concept:
Integrated Tourist Destinations
This area is planned by considering accessibility and supporting facilities that can meet the needs of tourists to create quality tourist trips.
The development is carried out by preserving the natural landscape by maximizing green land as a catchment area to reduce flood inundation so that visitors can enjoy the beautiful scenery that is presented.
Heritage & Cultural Preservation
Local cultural values are also preserved in the development of Loco Tour attractions. The existence of UMKM, museums and other educational information facilities around the site is expected to create tourism that maintains local culture and history.
Based on space, the development of the Loco Tour area is divided into three development corridors (stages), namely the Loco Depo, TPK Batokan, and Umbrella Huts. The Buk Brosot area, as one of the areas on the route, is planned as a transit facility that provides rest areas, food and beverage, and recreation. The features to be developed at the Buk Brosot Rest Area consist of several main facilities, including stations, MSME tenant buildings, outdoor culinary delights, and a large parking area.
This stage becomes the basis for a feasibility analysis of physical, legal, environmental, social, basic infrastructure, and surrounding tourism potential.
In planning Loco Tour Cepu, a feasibility study is needed that considers various aspects of development to create the final result in the form of information about whether the project is feasible to develop.
In assessing the physical feasibility of space, area analysis is divided based on the three development corridors above. Based on the analysis results, stage 1 has a feasibility value of 83.3% with existing tourist attractions in the form of craft/arts tourism villages (embryos) and TPK Batokan. The feasibility value for stage 2 of 64% indicates that the area still needs to be feasible for development. This is because there are no attractions around the route, and it is pretty far away. Meanwhile, Stage 3 has a feasibility value of 80.3% with the attractiveness of the surrounding tourist villages.
Apart from physical feasibility analysis, there are other considerations in the form of financial feasibility analysis. This analysis looks at 2 points:
Net present value (NPV)
The difference between the value of cash inflows now and those that go out during a specific period.
Internal rate of return (IRR)
The annual rate of return that will always be expected on an investment.
Based on the financial feasibility analysis, the NPV and IRR of the project are more significant than the bank's interest rates and capital (construction and operation), so this project is financially feasible and feasible to develop.