Improvement of the methods and practice of economic substantiation of investiments in multipurpose hydraulic construction

Abstract

1. It is necessary to accelerate the publication of a new edition of the “Standard Method of Determining the Economic Effectiveness of Investment,” the basic principles of which were presented in the report of Academician T. S. Khachaturov [5]. All fundamental changes in the “Standard Method” which can be introduced later for various reasons should be discussed by the scientific community. 2. It is necessary to continue and develop scientific investigations devoted to the elaboration of a method for a quantitative evaluation of the extrabranch effect of individual components and of the entire multipurpose project. 3. While pointing out the timeliness of the investigations underway to unify the methods of substantiating the effectiveness of investments in multipurpose water projects, the contemplated use of both the indexes of absolute and relative effectiveness for design and planning practice and for all components of a multipurpose project should be considered as well founded. At the same time it is expedient to use, along with the index of profitableness where the profit is referred to production funds, the index of profitableness where profit is referred to realized production, as a control index. 4. Owing to the insufficient reflection of fund consumption of production in current wholesale prices for a number of types of products, including coal, it is expedient to take into account in design practice the joint expenditures in extraction and transport of fuel. 5. When designing a multipurpose water project the priority of development of individual components must be substantiated based on the optimal service periods of structures and on the multipurpose utilization of water and other local resources. 6. To secure the multipurpose utilization of water resources it is necessary to accelerate the approval of the method of distributing expenditures between participants of the project.