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DỰ án đầu tư 02 máy KHOAN cọc NHỒI e

02 PILES INVESTMENT PROJECTS
18.5 Construction and Investment LICOGI company

1. Project name: 02 piles Investment Project
2. Total investment capital: 18.921 billion VND
3. Capital: commercial loans + equity
4. Implementation period: 2014
I. GENERAL INTRODUCTION
18.5 Construction and Investment LICOGI company was converted from branch
of 18 Construction and Investment LICOGI company in Hanoi. After construction
and development with the growing the labor force, the branch official restructured
into joint-stock company with the trade name: 18.5 Construction and Investment
LICOGI company
(Hereinafter referred to as "LICOGI -18.5").
LICOGI 18.5 works mainly in areas such as civil engineering and industrial wharf
transport and irrigation, hydropower, thermal power, urban investment, the
industrial property investment business, ...
LICOGI 18.5 build pride in their contribution to the construction of meaningful
political, social and economic, as typified by the works: Uong Bi Thermal Power
Plant, Pha Lai thermal Power Plant, International conference Centre, United
Nations housing, the diplomatic corps, Bach mai hospital expansion, T1 terminal



of Noi Bai, Horison 5 star hotel, industrial and rural agricultural Development fair
center, national Conference Center, Son La hydropower plant, ... Besides, the
company is constructing industrial projects invested abroad, such as Ha Tay
Brewery Tiger, Cai Lan flour production plant, Trensetter garment factory, Tinh
Loi garment factory, Konishi Vietnam and ANT processing factory, ...
Market demand for piles.
First, in the middle of 2011, the company invested to serve construction projects
by Licogi 18 in Thinh Liet new urban area, the 21-storey project of the General
Assembly building in Thanh Xuan - Ha Noi ... The go to construction projects will
bring a huge piles workload.
In addition, the urbanization trend is growing strongly in most provinces in the
country. Accordingly, the high-rise buildings (offices, commercial centers,
apartments, ...) will be increasingly more investment in construction especially in
major cities such as Hanoi, Ho Chi Minh City, Da Nang, Hai Phong... Most of the
textures will use tall piles to reinforce the background, this will be the conditions
to create a huge workload for future construction contractors including LICOGI
18.5.
Investment contents.
As analyzed above, the workload piles is quite large and in the future with the
development of real estate market promises a huge workload for the contractor.
The tasks in the moment for the company:
-

Focusing resources to implement the undertaken and will be taken project. This
is an important condition to further enhance the company's reputation in the
market.

-

Further improving the capacity of equipment, extending field of bored piles.
This is to ensure that the conditions can win market share in the future in the


field contribute pile raise annual production to sustainable development
company.
Therefore, to perform the tasks mentioned above, the company is expected to
invest 02 pile drilling machine (testing machine with straight holes), with the
technical specifications are as follows:


No
1

Device

Drill

pile

diameter

holes

Unit
Set

Quantity
02

drilled biggest gain from 1.8

Quality
Quality rest at ≥
80%

to 2.0 m depth, creating the
2

largest loss from 55-60cm
The straightness of bores

Piece

02

Quality rest at ≥

checking machine
80%
The investment in equipment will be the basis to make LICOGI 18.5 can be active
in the construction of completing construction works, catch the trend of
development in the piles field in the upcoming period. These conditions help the
company be more active in the process of production, construction packages for
piles that company or designated winning bid, as well as the projects which the
Company invested. At the same time the implementation of the equipment
investment will create jobs for workers, increase profits from business operations,
increase production capacity, increase competitiveness, reputation of the company
on the construction market.
II. FORMS OF INVESTMENT
Investment in improving production capacity, in the form of shopping used
devices.
III. BUSINESS PLAN
1. Management and operation of equipment plant

Equipment investment will be transferred to an underground construction team
to manage.
2. Business plan


Equipment investment will immediately be used for construction work at
Licogi 18 office project in Thinh Liet new urban areas and 21-storey buildings
of Thanh Xuan District General Assembly building. Then the other works will
be awarded in the near future and leasing activities. Based on the construction
situation on the market today and in the future, expected annual output of the
project is as follows:
No
1
2
3

Content
Total average piles in 1 year
The average length
One year volume performance

Unit
Pile
m
m

Year 1 – Year 8
340
45
15.300

Some measures to ensure the business plan
-

Promoting the marketing activities to seek and expand markets

-

Improving the effectiveness of procurement to improve the winning bidders

-

Strengthening the management of equipment, training routine, improving
training skills.

-

There are plans to repair and maintenance equipment to improve the quality
and the longevity of the equipment.

IV. TOTAL INVESTMENT CAPITAL AND INVESTMENT RETURN
PLAN.
1. Total investment
Based on the number of required devices investment, the price of similar devices
on the market in the present time and some quotes of equipment suppliers, we
determined the total investment of the project is: 18.921 billion VND (see
appendix details)
2. Capital investment
Capital investment was made from two main sources: equity and commercial
loans.
In which:
-

Equity (20%): 3.784.200.000 dong


-

Commercial loans (80%): 15.136.800.000 dong

3. Investment return
Investment loan is expected to be repaid within 05 years, the original loan will be
paid in each quarter, the loan rate is payable quarterly on the basis of the
remaining loans in the beginning of each quarter. Interest rate is 19% / year.
V.

ECONOMIC

EFFICIENCY

CALCULATION

OF

FINANCIAL

INVESTMENT PROJECT
The investment in the aforementioned construction equipment to meet the capacity
of the current plant construction company is essential but like the other project
requirements set for the project is to achieve project, which means investing in
projects to bring economic efficiency. The economic efficiency of the project will
be assessed by calculating some basic criteria:
-

The payback: T recovery

-

Effect of income and expenditure of the present time: NPV

-

Internal rate benefit: IRR

1. Background, methodology and selection of project parameters

-

Based on the total investment

-

Based on the business plan

-

Based on calculation methods to determine the effectiveness of finance,
economic investment capital.

-

Depreciation time: the entire project in 08 years

2. Determining the value of annual depreciation.

Each year depreciation is calculated using the formula:

In which:
V: Investment capital
T: Depreciation time
Regarding the Value of annual depreciation refer appendix


3. Determine the annual operating costs of the project
The cost of operation for each year (no basic depreciation) is determined by the
formula:
CP (vh) = Cnl+Ctl+Csc+Cql+Lv + BHCĐ + CPVT
In which:
Cnl: The cost of energy, fuel machinery
Ctl: Salaries for officers and employees
Csc: Equipment repair and maintenance costs
Cql: Other administration expenses
Lv: Banking Interest payments (initial capital investment and working capital
loans)
BHCĐ: Union insurance costs
CPVT: Related material cost (determined by the material terms of the basic
building unit)
3.1 Energy and fuel cost
The norms take on fuel consumption specs of the machine, on the basis of
reference to the fuel consumption of the same machinery. Diesel price is: 14,251
VND / kg (before tax).
Result of fuel costs and energy calculation shown in the Appendix.
3.2 Salaries for officers and employees
Based on the number of officers and employees who are expected to be arranged
and paid salary, we compute and determine the wages in one year of the project.
Result of wage costs calculation shown in the Appendix.
3.3 Equipment repair and maintenance costs
Repair costs are calculated as a percentage (%) versus capital equipment, this rate
is taken as the experience of using the same device.
Calculation results shown in the Appendix.
3.4. Other management expenses
Calculation results shown in the Appendix


3.5. Interest for bank loans.
Time to pay off the loan on commercial debt management plan is 05 years, the
principal will be paid on a quarterly basis, together with all accrued interest
included in that quarter.
Calculation results shown in the Appendix
4. The annual revenue of the project
• Sales projects in one year:
-

Revenue is determined on the basis of production planning and current project
construction unit (temporary with Hanoi - where major works gathered).

-

Revenue is determined under the guidance of the decrees and the management
of the current construction cost circulars guiding (CP 112/2009/ND- Decree
and Circular No. 04/2010/TT-BXD, ...) . Basic construction unit prices
prevailing (compute unit prices of Hanoi)

-

Revenue of the project excludes construction materials.

Calculation results shown in the Appendix
• The value of recovered assets.
The value of recovered assets after depreciation equal to 5% of the total value of
equipment investment before tax, this clause is regarded as extraordinary revenue
of the project in the last year.
5. Projected profit and loss
1 year profitability of the project is determined by the formula:
L = (Revenue in one year) - (Total expense in one year)
Calculation results are presented in the appendix
6. Calculating the financial performance indicators of the project.
6.1. Payback period of investment in profit and depreciation.
The length of needed time to recover the entire amount spent by net interest
income and amortization of giving.
Payback time - T0 is determined by the formula:


T0
Detailed calculations refer Appendix
6.2. Target offsets the revenue and expenditure of the moment - NPV
The time difference cost of revenues and expenditures - net present value (NPV) is
determined by the formula:
NPV =
In which:
Bt: Revenue of the project in year t
Ct: The expense of the project in year t
n: Number of operation years of the project
r: Acceptable minimum profit rate (19%)
V: Total initial capital investment of the project
H: The value of recovered property at the end of the project life
Calculation results detailed in Appendix
6.3. Internal productivity gains: IRR
IRR is the experimental determination of the equation:
NPV =

=0

To find the IRR in the equation was the correct approach, and find the IRR will be
determined by the following formula:

Calculation results in the appendix
6.4. Calculation results of the performance indicators of the project
-

The payback through profit and amortization: 3.32 years

-

Repayment period (source of repayment is 30% of profit after tax +
depreciation): 4.71 years


-

Effect of income and expenditure for the current time - NPV: 4.216.918.000
VND > 0

-

Internal rate of project profit - IRR: 26.13%> 19%

6.5. Assess the economic efficiency
Synthesis basic economic indicators calculation results mentioned, we found that
the NPV, IRR criteria are reached allowing efficient, target payback period is
acceptable, so the project construction equipment said to be effective and
economic benefit.

V. CONCLUSION
According to calculations and analysis above, we see investment economically
worthwhile. The project investment will be made to meet the demand for
construction equipment for the company in the current period and the next period.
The investment in construction equipment has stated will contribute to improving
equipment capacity, production capacity of the company from which enhance the
reputation and competitiveness of companies in the construction market.
On the other hand, when investment projects is implemented will make the active
in the production and business activities to create more jobs for workers, profits
for the company, contributing to the improvement of employees live and work.
Yearly, an amount significantly contribute to the state budget through the payment
of taxes.



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