The situational plan
Development of transport infrastructure of Taman sea port
   
   
 
   
   
   
   
   
   





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Strategy of development of water transport of Krasnodar area
Location and brief characteristics of the construction area
Requirement for the land resources of the new commercial sea port
Complexes of the first, second and third stage of construction
Organization of the secure boundary-customs area
Transport service
Guarantee for employees and their families the objects of the housing and public utilities and social-welfare designation
Architectural design
Heating
Communication and signaling system
Possible influence on the environmental situation of the port complexes
Common arrangements of measures for warning of emergency situations
Financial and economic appraisal of efficiency of investment
Conclusion



Financial and economic appraisal of efficiency of investment

Investment and industrial expenses, product cost structure

Table 24 shows capital investments for initial construction stage facilities for new industrial complex.

Table 24.

Name of expenses Cost, thousand of US dollars
priority including
  In total 1, 2 start up 3 start up
Capital investment 1 075 808 836628 239180
VAT 193 646 150594 43052
Totally 1 269 454 987222 282232

20 year period of project estimation, including 2 years for construction of 1st and 2 nd start up complexes, construction of further facilities is done in line with exploitation o terminals built earlier.
Table 25 shows product cost structure and industrial expenses

Table 25 - Cost structure and full current project expenses (6th year after project implementation)

Name of expenses Expenses, thousand US dollars
priority
1 Repair 10 758
2 Others (auxiliary, inferiors, lubricants, wipers and others) 727
3 Fuel for gas turbine plant 1 874
  Fuel, oil and lubricants (mechanization) 1 035
4 Salaries (including single social tax) 6 118
5 General industrial and factory expenses (business trips, maintenance of working vehicles, hospitality expenditures, environment protection, communication services, clerical and others) 1 585
  Maintenance charges in total 22 097
6 Amortization 64 549
  Full current expenses 86 446

 

Revenues

Components of revenues:

1) cash receipts for loading-unloading works:
- full containers 136,4 dollar/container;
- empty containers 81,4 dollar/container;
- oil products 8,8 dollar/t;
- LHCG 49,5 dollar/t;
- coal 4,73 dollar/t;
- grain 6,05 dollar/t;

2) revenues form port charges of transport vessels, calculated according to , Rate of charges from vessels in Russian Federation trade ports, approved by Ministry of Economy of Russian Federation 28 August 1995 and registered in Ministry of Justice of Russian Federation 28 October 1996, registration 1184, valid for other ports of Azov and Black sea region. Mooring, vessel, canal, environmental and navigation charges are included in project estimation.

 

Basic technical and economic rates

Estimation is done considering Russian law of taxation on 1 January 2006.
Project financial condition:
- capital base 25%,
- borrowing costs 75%, with 2 years moratorium on interests;
- reimbursement of credit - according to project possibilities, herein all idle money will be meant for reimbursement of credit;
- credit rate 6% annually.
Discount cash flow analysis is done by using program product, worked out by consulting service company ALT-Invest 4.0, Saint-Petersburg. Table 26 shows the analysis results

able 26.

Index Unit Figures
priority
1 Volume of services in value terms Millions of dollars 312,1
2 Estimated cargo turn over:    
  containers TEU thousand TEU /year 500
  Oil products Thousand t/year 5 000
  LHCG Thousand t/year 2 000
  grain Thousand t/year 5 000
  coal Thousand t/year 10 000
3 Total quantity of employees persons 1 440
4 Total value of construction including VAT Millions of dollars 1 269,5
5 Construction durability year 4
6 NPV Millions of dollars 624,7
7 IRR % 17,8
8 Payback time (simple) years 7,0
9 Payback time (discounted, at the rate of 10%) years 9,7
10 Taxes and payments to non-budget funds * Millions of dollars 63,1

* Data for 6th year of project implementation.

Economic and financial rates should be reviewed on further engineering.
Impact assessment of exogenous factors on project effectiveness is shown in diagrams by one-parameter and two-parameter analyses.

- 4.0 Alt-Invest

                 
sensitivity analysis                  

One-parametersensitivity analysis

                 
Initial parameter                  
  initial value Step of change              
Level of investment outlay 80% 10% 80% 90% 100% 110% 120% 130% 140%
Resulting indexes                  
net present value years   7,7 8,6 9,7 10,9 12,2 13,8 15,6
IRR (internal rate of return) Thsnd.doll.   23% 20% 17,8% 16% 14% 13% 12,8

Two-parametersensitivity analysis

                 
Initial parameter                  
  initial value Step of change              
Level of investment outlay 90% 10%              
Level of prices on the saleable production (works, services) 80% 10%              
Resulting indexes                  
Simple payback period %                
                   
  Level of investment outlay    
Level of prices on the saleable production (works, services) 90% 100% 110% 120% 130% 140% 150% , ./
80% 7,6 8,3 8,9 9,5 10,1 10,8 11,4 9,3  
90% 7,0 7,6 8,1 8,7 9,2 9,8 10,3 10,4  
100% 6,5 7,0 7,5 8,0 8,5 9,0 9,5 11,6  
110% 6,2 6,6 7,0 7,5 7,9 8,4 8,8 12,8  
120% 5,8 6,2 6,6 7,0 7,4 7,9 8,3 13,9  
Capital investment including VAT, mln. dollars 1 142,6 1 269,5 1 396,5 1 523,4 1 650,4 1 777,3 1 904,3    

 

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