SUMMARY SHEET
COMFAR III Expert [email protected]
1E107 - Construction - Automatic equity generated due to lack of
funds!
Project title: Siraf RefineryProject description: 60000 bbl/d
Condensate RefineryDate and time:
Project classification: New project
Construction phase: 01/01 - 12/03Length: 3 yearsProduction
phase: 01/04 - 12/28Length: 25 years
Accounting currency: US Dollar(US$) (US$)Units: AbsoluteLocal
currency: RIALS(RLS) (RLS)Exchange rate: 1.0000 US$ = 28,500.0000
RLS
INVESTMENT COSTSTotal
constructionTotal
productionTotal
investmentTotal fixed investment costs 326,280,000.00 0.00
326,280,000.00Total pre-production expenditures 13,000,000.00 0.00
13,000,000.00
Pre-production expenditures (net of interest) 13,000,000.00 0.00
13,000,000.00Interest 0.00 0.00 0.00
Increase in net working capital 0.00 143,029,726.17
143,029,726.17TOTAL INVESTMENT COSTS 339,280,000.00 143,029,726.17
482,309,726.17
SOURCES OF FINANCETotal
constructionTotal
productionTotal
inflowTotal equity capital 339,280,000.00 0.00
339,280,000.00
Foreign 0.00 0.00 0.00Local 339,280,000.00 0.00
339,280,000.00
Total long-term loans 0.00 0.00 0.00Foreign 0.00 0.00 0.00Local
0.00 0.00 0.00
Total short-term loans 0.00 0.00 0.00Foreign 0.00 0.00 0.00
SUMMARY SHEET
COMFAR III Expert [email protected]
2E107 - Construction - Automatic equity generated due to lack of
funds!
Local 0.00 0.00 0.00Accounts payable 0.00 430,653,275.06
430,653,275.06TOTAL SOURCES OF FINANCE 339,280,000.00
430,653,275.06 769,933,275.06
INCOME AND COSTS, OPERATIONSFirst year
4Reference year
4Last year
28SALES REVENUE 1,835,686,173.42 1,835,686,173.42
1,835,686,173.42Factory costs 1,656,750,047.40 1,656,750,047.40
1,656,750,047.40Administrative overhead costs 0.00 0.00
0.00OPERATING COSTS 1,656,750,047.40 1,656,750,047.40
1,656,750,047.40Depreciation 30,628,000.00 30,628,000.00
0.00Financial costs 0.00 0.00 0.00TOTAL PRODUCTION COSTS
1,687,378,047.40 1,687,378,047.40 1,656,750,047.40Marketing costs
6,550,689.76 6,550,689.76 6,550,689.76COSTS OF PRODUCTS
1,693,928,737.16 1,693,928,737.16 1,663,300,737.16Interest on
short-term deposits 0.00 0.00 0.00GROSS PROFIT FROM OPERATIONS
141,757,436.26 141,757,436.26 172,385,436.26Extraordinary income
0.00 0.00 0.00Extraordinary loss 0.00 0.00 0.00Depreciation
allowances 0.00 0.00 0.00GROSS PROFIT 141,757,436.26 141,757,436.26
172,385,436.26Investment allowances 0.00 0.00 0.00TAXABLE PROFIT
141,757,436.26 141,757,436.26 172,385,436.26Income (corporate) tax
0.00 0.00 43,096,359.07NET PROFIT 141,757,436.26 141,757,436.26
129,289,077.20
RATIOS
Net Present Value of Total Capital Invested at 15.00%
407,585,432.04Internal rate of return on investment (IRR)
29.63%Modified IRR on investment 29.63%Net Present Value of Total
Equity Capital Invested at 15.00% 407,585,432.04Internal rate of
return on equity (IRRE) 29.63%Modified IRRE on equity 29.63%Net
present values discounted to 12/01
