Summary of the project
Segezha is located in the central part of Karelia at a distance of 270 km from Petrozavodsk. The population of Segezha is about 37.000 people. Segezha is industry city. The main industries are pulp and paper industry, logging industry and wood industry. Medical care in the city is realizing by central regional hospital, grown-up and children's polyclinics. There are 27 general not specialized educational institutions in Segezha, including gymnasia, 5 secondary schools, 11 kindergartens, 8 additional educational institutions and 1 evening school. There are 2 colleges in the city. Follow institutions are including in culture sector of Segezha: art school, libraries, museum, rest park and cinema. There are sport palace with stadium and swimming pool and children’s sport school in the Segezha.
The supplier of heat energy is JSC “Segezha Pulp and Paper Factory”. The boiler house of this company is working with using mazut.
“Installation AHS in budget buildings of Segezha and Nadvoitsi” include:
Profitability
|
Profitability parameter |
|
|
|
Total investments |
10 873 764 |
RUB. |
|
Net savings |
2 391 837 |
RUB./year |
|
Pay back period |
4,6 |
Year |
|
Net Present Value, NPV |
7 151 795 |
RUB. |
|
Internal Rate of Return |
17,7 |
% |
Condition:
Financing plan, rubles:
|
|
Total investments |
NEFCO |
Equity of borrower |
|
Installation of AHS in budget buildings of Segezha and Nadvoitsi |
10 780 000 |
9 500 000 |
1 280 000 |
|
Interest during implementation of the project |
93 764* |
|
93 764* |
|
Total |
10 873 764 |
9 500 000 |
1 373 764 |
* the total interest depends on the dates of samples and is presented according to the calculation on the Loan Agreement for preliminary cost assessment. For payment, the total interest will be presented calculated on actually selected sum of the loan for the actual period of use.
The borrower in this project is Administration of Segezha Municipal District, which will be the project owner. The clients in municipal project works agreements are municipal kindergartens (MDOU) No. 2, 3 and 4 of Nadvoitsi village, and municipal kindergartens No. 4, 6, 12, 14, 17, 18, 20, 22, and 23 of the town of Segezha, Administration of Segezha Municipal District, ME Segezha District Center of Culture and Recreation, ME Segezha Central District Hospital, MEE Gymnasium “Istoki” and secondary school of Nadvoitsi village.
For the purpose of project management, the Borrower has established Coordination Council, and Karelian Energy Efficiency Center (KAEEC) is fulfilling the functions of a Manager for supervising project implementation.
Contractors were selected on a tendering basis. Contracts have been concluded with the winners of the tender.
According to the plan, overall duration of project implementation at the stage of works is 7 months.
Financing schedule
During project implementation, the terms of project completion have changed and was 15.05.2008.
As of 27.05.08, Investment Plan is as follows:
|
Source |
Loan agreement, rub. |
Current situation on 20.05.07, rub. |
|
NEFCO loan |
9 500 000 |
7 400 000 |
|
Tranche А |
4 320 000 |
4 320 000 |
|
Tranche В |
3 080 000 |
3 080 000 |
|
Tranche С |
2 100 000 |
|
|
Equity of borrower |
1 214 838,98 |
1 441 119,54* |
|
Total investments |
10 714 838,98 |
8 841 119,54 |
* - at the moment Segezha Administration paid on the 226 280,56 RUR more when according financial plan. This money will be compensate to Administration from the tranche 3.