Post on 08-Jul-2018
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Fish Processing Plant(Feasibility study)
GILAD TRADING PLC
March !""#Addis Ababa
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Table o$ Contents
PageIEXECUTIVE SUMMARY ………………………………………………… 1
IIMARKET STUDY …………………………………………………………… 3IIIRAW MATERIALS AND UTILITIES STUDY …………………… 19IVPLANT LOCATION AND ENVIRONMENTAL ……………………
CONSIDERATION
25
VENGINEERING AND TECHNOLOGY ……………………………… 26VIORGANIZATION, MANAGEMENT AND MAN POWER …… 32
VIIPROECT IMPLEMENTATION SCHEDULE ……………………… 3!VIII"INANCIAL STUDY ………………………………………………………… 3#
IXCONCLUSION AND RECOMMENDATION ……………………… !1ANNEXES$
i. P%&'()*(+ S-(. "&%().* ……………………………………
ii. P%&'()*(+ I/)&0( S**(0(/* ……………………………
iii. P%&'()*(+ C. "-& S**(0(/* …………………………
iv. P%&'()*(+ -/)( S((* S**(0(/* …………………
v. I/*(%/- R*( &4 R(*%/ C-)-*&/ ……………………
vi. P%&'()*(+ "//)- R*&. …………………………………
vii. S00(%7 &4 A//- O8(%*/ C&.* …………………
viii. L&/. R(870(/* S)(+-(. ………………………………
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51
I.
%&%C'TI% 'MMAR*1.1 Descri+tion o$ the Pro,ect
T. 8%&'()* . 0 *& 8%&+)( 4. 4%&0 L;( T/< T( 8%&0&*(%, GILAD
TRADING PLC +(+)*(. *. %(.&%)(., =&* 4//)- /+ *()/)- ;/&>
&, *& (/(0(/* / *( =./(.. &4 8%&)(../ 4. / E*&8 /+
2
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0%;(*/ -&)--7 /+ =%&+< T( 8%&)(.. &4 4. /?&-?(. .( &4
*&0*(+ .7.*(0< T( 0%;(*/ &4 *(.( 8%&+)*. *%(* ).*&0(%
/((+. 4&% >@-*7 4. 8%&+)*.< T( )&08/7 .8%(. *& 0((* -&)-
/((+. /+ )&/*%=*( *& (44&%*. &4 *( )&/*%7 / (/(%*/ 4&%(/
()/( (%//.< T( &%/B*&/ /+ 0/(0(/* .7.*(0 &4 *(
=./(.. . +(./(+ *& %(.8&/+ *& *( -(?(- &4 .&8.*)*&/ / *(
8%&+)*&/ /+ 0%;(*/ &8(%*&/.<
1.2 A-ount o$ Financing Re.uired
T( *&*- /?(.*0(/* %(@%(0(/* &4 *( 8%&8&.(+ =./(.. /*(%?(/*&/
. (.*0*(+ * %% 192,61,!#6/ I* . -.& ..0(+ *& 4//)( *.
0&/* *%& .)(0( &4 # /+ 3 =(*((/ /; /+ GILAD
TRADING P%?*( L0*(+ C&08/7< C&/.(@(/*-7, *( /; ?-. %%
13!,:2#,333 -( GILAD TRADING P%?*( L0*(+ C&08/7 0((*. *(
%(0// %% 5#,#:3,1!3 <
1.3 Mar0et Pros+ect
T( 0%;(* 8%&.8()* &4 *( 8%&8&.(+ 8%&'()* . .*%&/-7 -/;(+ * *()%%(/* **%)*?( /?(.*0(/* 8&-)7 &4 E*&8< T( &?(%/0(/* .
=((/ &/ 4&%(/ +%()* /?(.*0(/* "DIF /+ . =((/ 08%&?/ *( *(%0
/+ )&/+*&/. /+(% ) *(7 %( *& &8(%*(< H?/ -.& %(?((+ *(
)&/*%7. ()&/&0) +(?(-&80(/*, *( )&/.08*&/ &4 4. . /)%(./
) / *%/ /()(..**( 08%&?(0(/* / *( 4. 8%&)(../ /+.*%7 /+
*( +(?(-&80(/* &4 %(-(?/* /4%.*%)*%(.<
T(%( %( (?+(/)(. ** )&/.08*&/ &4 4. . /)%(./ / -- *%(*
*&/. /+ %(&/.< T( 0&.* 08&%*/* *(%0/- 0%;(*. 4&% 4.,
&(?(%, %($ *( 0'&% %=/ )(/*(%. &4 G&/+(%, D(=%( T=&%, D(..(,
/+ K&0=&-)< M/7 .0--(% *&/. */ 2 *& 3 ;0 4%&0 L;(
T/ %( -.& =(-(?(+ *& ?( ./4)/* +(0/+ 4&% 4.<
3
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"%*(%0&%(, *(%( %( .(?(%- *(% =&+(. 0/-7 %?(%. /+ %(.(%?&%.
) %( 7(* /*88(+< H(/)(, .&-+ *( +(0/+ =()&0( %(-B=-(
*(%( . .44)(/* 8&*(/*- / *( )&/*%7 4&% 4%*(% +(?(-&80(/* /+
(8-&**&/<
T( @(.*&/, *(%( 4&%(, . & *& .*.47 *( -%( +(0/+ &/ *( &/(
/+ -( (8-&*/ *( ?.* 8&*(/*- %(.&%)(. &/ *( &*(% T(%( .
-.& /((+ *& .*0-*( 4%*(% +(0/+, 4 *( = /&/>4%(@(/*
)&/.0(%. &4 4. %( *& =( **%)*(+ *& /)%(.( *(% )&/.08*&/ -(?(-<
A-- *(.( &88&%*/*(. )&8-(+ * *( ?-=-*7 &4 0/8&(% *
-&(% -=&% )&.* . (-- . *( .*%&/ +(.%( &4 GILAD. @-*7
88%()*&/, (//)(. *( 8%&+)*&/ /+ 0%;(*=-*7 &4 ?%&. 4.
8%&+)*.<
1.4 Technical Feasibility
T()/)--7, *( GILAD P%?*( L0*(+ C&08/7 =(-(?(. *( .( &4
*&0*(+ 0)/(. &-+ =( /.*%0(/*- / *(%0. &4 (44)(/)7 /+
(44()*?(/(.. &4 *( 4.(%7 /+.*%7 /+ %(-*(+ .()*&%.< T( 8%&'()*
=.(. *.(-4 &/ *( .( &4 *&0*(+ 8%&+)*&/ .7.*(0 *& =(**(% 0((*
*( )%%(/* /((+. / *( +&0(.*) /+ /*(%/*&/- 0%;(*<
E*&8 =(/ %(.&%)( =/+/* 4&% 4. /+ -)%*?( 0%;(* *& 4.
8%&+)*. +)**( *( (.*=-.0(/* &4 *. )&08/7 /+ (/( / *(
8%&8&.(+ =./(.. /*(%?(/*&/< T( 8%&'()* &-+ 8%&?+( *( (@80(/*
%(@%(+ *& /+-( =&* 1, *&/. &4 4. 8(% 7(%, &* &4 ) :
4&% 4&%(/ 0%;(*.< T( (@80(/* &-+ --& 4&% )&--()*/ *(
)*)(., 8%&)(..(. *(0 / *( 8%&)(../ 8-/* * T/, *%/.8&%* *&
A++. A== /+ (8&%* *& *( EU, M++-( E.* /+ &*(% A4%)/
C&/*%(. /+ %(*- / *( 8&8-*(+ %(. &4 )(/*%- E*&8<
4
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1.5 1rgani2ation and Manage-ent
T( &%/B*&/ /+ 0/(0(/* &4 *( 8%&'()* . +(./(+ / -/( *
*( %(@%(0(/*. &4 +&8*/ *&0*(+ 4. 8%&)(../ 8-/*< T( 0'&%
.*%)*%- )&08&/(/*. &4 *( &%/B*&/ /?&-?( (/(%- ..(0=-7,
0/(0(/* *(0, *%(( +?.&/. P%&+)*&/, P%&)(../, /+
M%;(*/F< M) (08.. . ?(/ *& )8)*7 =-+/ . *( 0)/(.
%( *&0*(+ /+ %(@%( (-- &%/B(+ .;-- *%/.4(% 8%&%0< T(
8%&+)*&/, 0%;(*/ /+ 4//)- .8()* &4 *( 8%&'()* -- -.& =(
0/(+ / -/( * %(-(?/* -(- 8%&?.&/. /+ (*)- .*/+%+. &4
*( )&/*%7<
1.6 Financial iability
T( 4//)- /-7.. &4 *( 8%&8&.(+ 8%&'()* +(0&/.*%*(. %(*%/ &/
/?(.*0(/* %*( &4 323, 8%&4* 0%/ &4 12 /+ -&/ %(870(/*
87 =); 8(%&+ &4 6 /+ #7(%.< T( 8%&'()* )&/*%=*(. *&
08%&?(0(/*. / %(-*(+ .()*&%., &44(%. 0&%( */ 1 '&= &88&%*/*(.,
87. *(. (*)< I/ )&/)-.&/, *( 8%&'()* . .&)- /+ ()&/&0)-
=(/(4*. /+ (/)( * . %()&00(/+=-(<
II. MAR3%T T'D*
2.1 General Re4ie5
2.1.1 General analysis
E*&8 . / (*(/.?( =&+7 &4 /-/+ *(%., )&08%./ (*
8%/)8- -;(., *%(( %(.(%?&%. /+ /0(%&. %?(%.< T(.( *(% =&+(.
%( /&* 8%&8(%-7 .%?(7(+ /+ (/)( /& .7.*(0*) ..(..0(/* &4 *(%
4./ 8&*(/*- . =((/ 0+(< I* . (/(%--7 =(-(?(+ ** *( *&*-
%( &4 *( -;(. . 0&%( */ #, ;02 /+ *(% 000 7(-+ &4 4.
5
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. %&-7 (.*0*(+ *& =( =&* 35,3 *&//(.< T( //- 4./
8&*(/*- &4 *( %& R?(% -&/( . (.*0*(+ * 25, *&//(.< O*(%
%?(%. .) . G-&, O0&, A., A=7 -( N-(F /+ W= S(=(-( %(
-.& ;/&/ *& ?( -%( 8&*(/*-<
A/+ *( )&/*%7 . *( ".(%(. R(.&%)( D(?(-&80(/* D(8%*0(/*
"RDDF (.*=-.(+ / 19#9 /+(% M/.*%7 &4 A%)-*%( /+ *( ".
P%&+)*&/ /+ M%;(*/ C&%8&%*&/ 19:9F %( *( &?(%/0(/*
(/)(. ?(.*(+ * *( %(.8&/.=-*7 &4 +(?(-&80(/* /+ (*(/.&/ &4
/-/+ 4.(%(. 8%&)(../ /+ 0%;(*/ &4 4. / *( )&/*%7< A))&%+/
*& *( "RDD, *( *&*- //- )*) &4 4. 4%&0 -;(. /+ %(.(%?&%. .
%&/+ !,! *&//(.< T( =(.* )*) 5# 8(%)(/*F )&0(. 4%&0 L;(.A=7 C0& /+ Z7 ) )&08%.( =&* 21 8(%)(/* &4 *( *&*-
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(.*0*(+ * =&* 1,, (%/ *(% -?(-&&+ 4%&0 4./< T.,
&(?(%, +&(. /&* /)-+( 8%*>*0( .=..*(/)( 4.(%0(/ 0&.* &4 )
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D(.8*( *. -%( 8&*(/*-, **(08*. *& +(?(-&8 E*&8. 4.(%7 %(.&%)(
%( -0*(+< I* . (.*0*(+ ** &/-7 =&*
/ *( %)-*%- .()*&% . --&)*(+ 4&% *( +(?(-&80(/* &4 4.(%(.
MOA, "P"SN, .= 8%&%00( 8 *&, 1993F<
D&)0(/*. .& 4./ / E*&8 . )&/.*%/(+ =7 -); &4 (44)(/*
/4%.*%)*%( /+ 0%;(*/ /(*&%;< T( /4%.*%)*%( * 4./ .*( .
/+(?(-&8(+ /+ /+(@*( /+ . +(?&+ &4 *%/.8&%* 4)-*(. *& -/;
%(0&*( *(% =&+(. * 0'&% )&/.0/ %(.< H%?(.*/ /+
8%&)(../ *()/&-&7 %( /&* ))(..=-(, *. -0*/ *( .)&8( &4
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6
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)8)*7 &4 4.(%0(/< A))&%+/ *& +&)0(/*. &=*/(+ 4%&0 "AO, *(%(
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8%&*()*&/ &4 )*)0(/*. %(. &% %()();/ +(%+*&/ %&/+ *(
-;(.< "((+/ =*. &4 *( 8(&8-( . -.& &/( &4 *( )&/.*%// 4)*&%.
4&% +?/)(+ 4.(%7 +(?(-&80(/* D&)0(/* 4%&0 *( M/.*%7 &4
A%)-*%( /+ R%- D(?(-&80(/* -.& /+)*(+ ** 8%(?&.-7 /+ *&
.&0( (*(/* .*-- *( )&/.08*&/ &4 .( 4&&+. . %(.*%)*(+ *& %=/
%(. /+ *& .&0( .(.&/. -;( O%*&+& C%.*/ 4.*/ 8(%&+< T* .
.& =().( *( .&)(*7 *(/+. *& ..&)*( *( )&/.08*&/ &4 .( 4&&+.
4.F * 4.*/< S& ( )/ (/(%--7 .7 .( 4&&+. %( /&* .- .*8-(
4&&+. -0&.* / -- 8%*. &4 E*&8< R()(/*-7, &(?(%, *( )&/.08*&/
&4 .( 4&&+. *%& ( ?( &&+ 8&*(/*- (.8()--7 / .&*(%/ 8%*.
&4 *( )&/*%7, &% *-B*&/ &4 .( 4&&+. . /&* / *( 7 * .&-+ =(<
T* . .& =().( / 0&.* ).(. *( 4./ 0(*&+. &/ *( -;(. %(
*%+*&/-<
Table !/67 %-+irically +redicted +otential yield and +roduction $orthe -ain 5ater bodies
La0es Altitude(-)
Area(0-!)
Mean de+th(-)
Potentialannual yield
(-t)
Production(-t)
Ri$t alley
C0& 12: 55 13
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A@)-*%( / E*&8 %(0/. 0&%( 8&*(/*- */ )*- 8%)*)(J
+(.8*( *( 4)* ** *( )&/*%7. 87.)- /+ .&)&>()&/&0) )&/+*&/.
.88&%* *. +(?(-&80(/*< E*(/.?( @)-*%( / *( 4&%0 &4 .*&);/
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8%)*)(+ ./)( 19#5 *%& *( S(=(* ". %((+/ /+ R(.(%)
C(/*%( /& %(.(%) / &4 *( E*&8 A%)-*%- R(.(%)
O%/B*&/F< I/ *( 8(%&+, &?(% 2
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A 8(%&+ -&/(% */ # 7(%. %(@%(. +().&/. &4 *( C&/)-
&4 M/.*(%.<
• A/ /?(.*&% & (8&%*. * -(.* 5 &4 . 8%&+)*. &% .88-7 &/-7
*& *( +&0(.*) 0%;(* .-- =( (-=-( /)&0( * ((08*&/ 4&% 27(%.<
o U/+(% .8()- )%)0.*/)(., *( "(+(%- I/?(.*0(/* &%+
07 %/* /)&0( * ((08*&/ 4&% /&* -&/(% */ 5 7(%.<
A 8(%&+ -&/(% */ 5 7(%. %(@%(. +().&/. &4 *( C&/)-
&4 M/.*(%.
C.*&0 D*7
• A/ /?(.*&% -- =( --&(+ *& 08&%* +*7 4%(( )8*- &&+. /+
)&/.*%)*&/ 0*(%-. /()(..%7 4&% *( (.*=-.0(/* &4 /(
(/*(%8%.( &% 4&% (8/.&/ &4 / (.*/ (/*(%8%.(
• I/ ++*&/, / /?(.*&% %/*(+ * ).*&0 +*7 ((08*&/
8%?-(( .-- =( --&(+ *& 08&%* +*7 4%(( )8*- &&+.
/()(..%7 4&% . (/*(%8%.(
• S8%( 8%*. /&* %(*(% */ 15 &4 *( *&*- ?-( &4 *( )8*-
&&+. .-- =( ?(/ *( .0( 8%?-((<
T( 4. 8%&)(../ .= .()*&% . /&* /+(% %(. %(.(%?(+ *& +&0(.*)
/?(.*&%., *. * . &8(/ *& /*(%/*&/- /?(.*&%.<
2.2 Target -ar0et
"&% *( %(.&/ &4 +(0/+ &4 4. 8%&+)*. / *( EU, M++-( E.* /+
S&0( A4%)/ C&/*%(., *( 8%&+)*. &4 *( 8%&'()* %( 0/-7 .&-+ *&
10
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*( (8&%* 0%;(* /+ =&* 2 &4 *. 8%&+)*&/ . (8()*(+ *& =(
.88-(+ *& *( +&0(.*) 0%;(* &4 E*&8<
2.3 Analy2ing International Fish Trade
2.3.1 Fish Production
T& /+(%*;( *%+(, +(@*( 8%&+)*&/ . / 08&%*/* 4%.*
%(@%(0(/*< (*((/ 1963 /+ 23, ( &=.(%?( ./4)/* /)%(.(. /
4. 8%&+)*&/ * *( -&=- -(?(- 2 8(%)(/*F, /+ 4&% +(?(-&8/
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8%&+)*&/ =7 &/-7 29 8(%)(/* &?(% *(.( 4&% +()+(.< A. 0**(% &4
4)*, 8%&+)*&/ =7 +(?(-&8(+ )&/*%(. . )&/*/&.-7 +()-/(+ &?(%
*( 8.* .(?(/ 7(%.< H&(?(%, 4. 8%&+)*&/ * -- -(?(-. /)%(.(+
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8(%&+< 7 23 *( +(?(-&8/ )&/*%(. ))&/*(+ 4&% &?(% *%((>
@%*(%. &4 -&=- 4. 8%&+)*&/ T=-( 2
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D(?(-&8/2
*(% 4. 8%&+)*&/, =().( * . *( /*%- %(.&%)( ** %(@%(. *(
-(.* -(+ *0( 4&% +(?(-&80(/*< E//)(+ 8%&+)*&/ . =((/ *( %(.-*
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Na-ibia . *( )-..) (08-( &4 *. /*- * **/(+ /+(8(/+(/)( /
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Na-ibia ./)( )&/.*%/*. (%( %(0&?(+ 4*(% /+(8(/+(/)(, 4.(%(.
?( =()&0( )&%/(%.*&/( &4 +(?(-&80(/* 4&% ** )&/*%7< ?ra2il
enegal /+ ri Lan0a ?( /&* (8/+(+ *(% 4. 8%&+)*&/ * *(
?(%( 8)( &4 *( +(?(-&8/ )&/*%(. &?(% *( 4&% +()+(.< H(%(
/, / S% L/;, *( (*/) )&/4-)*. / *. /&%*(%/ *(%%*&%(. (%( /
08&%*/* ).( &4 *. .*/*&/< ". 8%&+)*&/ / Ghana 3enya
Thailand the Phili++ines /+ Fi,i . %.(/ 4.*(% */ *( ?(%(
%*(. 4&% +(?(-&8/ )&/*%(.< Chile, *& 0&/ *( &%-+. -%(.*
4. 8%&+)(%., ))&/*/ 4&% !
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T( *%(( =%&+ %(-0. &4 4. 8%&+)*&/ %( 0%/( )8*%(, /-/+
)8*%( /+ @)-*%(< T(% .%(. / *( *&*- ?( )/(+ %+)--7
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+%0*)< D(?(-&8/ )&/*%(. / 23 8%&+)(+ 3!
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/0- 8%&*(/ )&/.08*&/, . 4&% (08-( / A%(/*/, Nicaragua /+
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Table !/; Trends in $ishery +roduct e8+orts and i-+orts ('
billion) Figures in brac0ets are = change o$ !""; o4er
6#
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4.0(- *& *( U/*(+ S**(.< T( )-&./ &4 *( C/(.( 0%;(* 4*(% *(
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19#6 &/%+.< A))&%+/ *& *(.( +*, =7 19#6 +(?(-&8/ )&/*%(.
+ -%(+7 ))&/*(+ 4&% =&* 3# 8(%)(/* &4 *( ?-( &4 (8&%*., =*
'.* 13 8(%)(/* &4 08&%*.< T(% .%( &4 (8&%*. /)%(.(+ *& !: 8(%)(/*/+ 08&%*. *& 1: 8(%)(/* =7 23 T=-( 2(?+(/*< T(% /*%- /+
)&08%*?( +?/*( -(. / *. %(-0< H&(?(%, ?(/ *( 8(/&0(/-
/)%(.(. / *&*- 8%&+)*&/, . (-- . .4*. &4 8%&+)*&/ *& %(-0.
** %( 0&%( (8-)*-7 *%+( &%(/*(+, *( 4&%7 &4 +(?(-&8/ )&/*%(.
/*& /*(%/*&/- *%+( . %(-*?(-7 -(.. 08%(..?( /+ )&/.*%/(+<
T( -&=- ?-( &4 4. 08&%*., / /&0/- *(%0., /)%(.(+ =7 =&*
6#3 8(%)(/* 4%&0 US:
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T(%( %( 08&%*/* %(&/- /+ )&/*%7 ?%*&/.< "&% (08-(, *(
%&-( &4 4. 08&%*. /*& W(.* A4%)/ )&/*%(. .) . CQ*( +I?&%(,
N(% /+ Ghana /+ /*& &*(% )&/*%(. .) . E78*, ?ra2il ri
Lan0a /+ the Phili++ines
O?(% *( -.* @%*(% )(/*%7, *( ?-( &4 +(?(-&8/ )&/*%(. (8&%*.
/)%(.(+ .=.*/*--7, *& *(% .%( &4 -&=- *%+( %&.( &/-7
0%/--7< H&(?(%, *(% (8&%* 8(%4&%0/)( 8-(. =(4&%( *(%
8%&+)*&/ 8(%4&%0/)(< T(% ?-( &4 08&%*. /)%(.(+ *&4&-+, =*
*(% .%( / -&=- 08&%*. &4 4. 8%&+)*. %(0/(+ )&/.*/*< T(
8%&%*7 ))&%+(+ *& (8&%*. . )-(%-7 (?+(/*, /+ %(*(% +%()* /+
/+%()* 4&&+>.()%*7 08-)*&/. %( -;(-7 *& %.( 4%&0 *.<
2.3.4 Fish Trade and Fish Prices
T(%( . /&*(% 7 *& /-7B( *( ..( &4 *( .-&/ +&/ &4 *(
%&* &4 *%+( =7 (0// *( 8%)(. %()(?(+ 8+F 4&% *( 4.
(8&%*(+ 08&%*(+F< "&% *( 8%8&.( &4 )&08%=-*7, ( (8%(.. *(.(
8%)(. . *( /* ?-( &4 *( -?( (* UVLWF &4 (8&%*. /+
08&%*.< 7 *;/ -?( (* %*(% */ 8%&+)* (*, ( 0&?(
*&%+. %(*(% 8%&+)* &0&(/B*&/, =().( (8%(../ *( ?.*
+?(%.*7 &4 4.(%7 8%&+)*. / *(% (*>(* *(%0. 08-(. (@-B/
*(0 / *(%0. &4 *(% 4&&+ ?-(. T=-( 2
T;/ *( +(?(-&8/ )&/*%(., ( .(( ** *( UVLW 4&% (8&%*.
/)%(.(+ 0%/--7 / *( 8%(>WTO 8.(, 4%&0 US2 39 *& 2
!#6*&//(, /+ *(/ +%&88(+ ./4)/*-7 / *( WTO 8.( *& US1#63*&//(< H&(?(%, *( UVLW 4&% 08&%*. +()%(.(+ 0%/--7 / *(
8%(>WTO 4%&0 US3: *& 2##*&//( /+ *(/ /)%(.(+ 0%/--7 / *(
WTO 8.( *& US2:3*&//(< T( 08)* &4 /4-*&/ . /&* )&/.+(%(+,
. *( ?-(. .**(+ %( / )%%(/* 8%)(.< T( *%(/+. ( &=.(%?( / *(
16
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8&.*>1995 WTO 8.( %( /& ).( 4&% )(-(=%*&/< "%&0 *( 4&&+>?-(
8(%.8()*?(, *( (%// 8(% /* &4 +(?(-&8/ )&/*%(. (8&%*. %(+)(+
+%/ *. 8(%&+, -( *( /* )&.* 8+ 4&% 08&%*. /)%(.(+<
M&%( )&/?(/*&/- *%+( /-7.., 4&% (08-( *;/ *( =%*(% *(%0. &4 *%+(, +&(. /&* 8/* %&.(% 8)*%( &4 *( *%(/+. &/ *( %(*(
T=-( 2++(+ 8%&+)*.< &* *(.( &8*&/. %( -0*(+< A %&
(.*0*&/ &4 -&..(. &/ *. .)&%( . %(?(-/< C&/.+(% *( ).( &4
.%08, *( 0.)&* &4 +(?(-&8/ )&/*%(. 4. (8&%*.< I/ 2 *(
?-( &4 -&=- .%08 (8&%*. -- 8%&)(.. 4&%0.F . ?-(+ * US11
=--&/ /+ *( +(?(-&8/ )&/*%(. .%( . =&* *%+ &% US3?-( 8(%.8()*?(, *( /* (%//. 4%&0
(8&%*. &4 +(?(-&8/ )&/*%(. ?( %(+)(+ 0&%( %8+-7 */ *( )&.*
8+ &* 4&% /* &4 08&%*< T( )&/?(/*&/- *(%0. &4 *%+( / 4.(%7
8%&+)*. 4&% +(?(-&8/ )&/*%(. ?( +(*(%&%*(+ / *( WTO 8.(<
T( 8&*(/*- (%//. -&.. *& *(% ()&/&0(. . =((/ )&/.+(%=-(,
* **(/+/* 4&&+>.()%*7 08-)*&/.<
17
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Table !/B 'nit 4alue o$ li4e 5eight ('L) o$ de4elo+ing
countries $ishery +roduct i-+orts and e8+orts
*ear
I-+ort +rice
Inde8
%8+ort +rice
Inde8(' +er
tonne)
(' +er
tonne)199 3: 1 2 39 11995 2## 9 2 !#6 132 2:3 92 1 #63 #!
Table !/ Fishery +roduct ter-s o$ trade (+roduct 5eight)
Region 6#
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T( E/*(%8%.( . (.*=-.(+ /0=(% &4 4. )&--()*&/ %()(?/F
)(/*(%. &% .**&/. / +44(%(/* 8%*. &4 *( )&/*%7 (%( 4./ .
)&/+)*(+< H&(?(% *( 0'&% 4. %()(?/ /+ /+-/ &%; . =(/
+&/( * *( =%/)(. -&)*(+ / A%= M/), Z7 /+ % D%<
Local For-al ector (Ne5 %ntrants)
Table !/:7 Co-+anies registered 5ith the In4est-ent Authority tobe in4ol4ed in Fish Processing (Ne5 %ntrants)
No Na-e o$ In4estorRegion o$
In4est-ent
CityE To5no$
In4est-ent
Ca+ital("""?irr)
In4est-enttatus
1A08-(0(/**&/
2T% 0(+M&00(+ (-.4(
A0% % D% 1,9:# P%(>I08-(0(/**&/
3V**&%/& V(BB(% /+)%-& T-%)& PLC
SNNPR A%=0/) 9,59 P%(>08-(0(/**&/
!CARLO TALARICO SNNPR 9,35 P%(>I08-(0(/**&/
5O0& W(/B( ".T%+/ PLC
SNNPR W&-* S&+& #,5 O8(%*&/
6A*-*. (*&8 PLC SNNPR A%= M/) :,# P%(>08-(0(/**&/
#P.)- L4(/(*(% A++. A== A++. A== 1#,5! I08-(0(/**&/:H.0 A=+(-;%0 A++. A== A++. A== 2, P%(>
08-(0(/**&/9KO> /*(%/*&/-PLC
A++. A== 1!,62 P%(>I08-(0(/**&/
1A.%4 I/+.*%-G%&8 PLC
M-*%(&/- 12,951 I08-(0(/**&/
11"(;+ A0=7( A++. A== A++. A== 1,915 P%(>I08-(0(/**&/
S&%)($ E*&8/ I/?(.*0(/* A*&%*7
A. *( =&?( *=-( /+)*(. 0&.* &4 *( +(.)%=(+ 4%0. %( %(-*?(-7
* =(**(% /?(.*0(/* )8*- /+ . %(.-* (8()*(+ *& )&08(*( (--
* *( 8%&'()*<
2.4.3 Mar0et Pros+ect
20
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". 8&*(/*- &4 *( )&/*%7 )/ =( 8-)(+ * =(*((/ 3
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-- ?( ..*/=-( % 0*(%- /8*. /+ ?(. )&08(**?(
+?/*( &?(% *. )&08(**&%.<
3.2 u++ly o$ Ra5 Materials
3.2.1 u++ly o$ Li4e Fish
3.2.1.1 Fingerlings Far-s
T( *%(* . 0/4)*%/ &4 1=%(+/ -- 8%&?+( 1 0-( 4/(%-/.<
T( )%&..>=%((+ =(*((/ M-( A% /+ "(0-( N-&*) G/ =%((+.
-- 8%&?+( 99
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3.2.1.2 Fish Far-s
T( 4%0 -- =-+ *& 4. 4%0. / *( L;( T/, () &/( 8%&+)/
3 *&/ 8(% 7(%< "%0 .B( . .& / *( 4%( =(-&<
"&% () 4. *& =( 0%;(* *( 4%0 .&-+ %()(?( 1
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8%&)(..(. 4&% =&* ! &%.< "&% *( =&?(>0(/*&/(+ )8)*7 2 )&&;(%
*/;. &4 1, -* (), 4&% 2 .4* &%;/ +7 (%( )-)-*(+<
A4*(% )&&;/ *( % 0*(%- . *%/.4(%%(+ *& *( 8(%)&-*&%, *(/ ?
.)%( )&/?(7&% *& *( 8%(.. 4&% *( (*%)*&/ &4 *( 4* 4%&0 *( 0(-<T( 4. 0(- . *(/ *%/.4(%%(+ ? .)%( )&/?(7&% *& *( %/+(% /+
4*(% %/+/ *& )&/*/(%. &% =. /+ +.8*)(+ *& 4((+/ 0(- .*&%(<
". 4* . 8%(..(+ *%& .(?( /+ +()/*(% /+ *%/.4(%%(+ *& .*&%(
*/;.< ". 4* . )&00(%)-B(+ *& 4((+/ 0(- +(-(%. &% .(+ *&
8%&+)( =& +(.(-<
?io > Diesel +roduction +rocess
". 4* . *%/.4(%%(+ *& *( %()*&%. *&(*(% * -7)(%&- /+ 0(*/&-
. )*-7B(%.< A4*(% *( %()*&/ *( % 0*(%- . *%/.4(%%(+ *& *(
.(+0(/**&/ */;< T( .(+0(/* . .(8%*(+ *& )&/*/(%. /+ =); *&
G-7)(%&- /+ M(*/&- 4&% %(8(*(+ .(< T( % 0*(%- . *%/.4(%%(+
*& *(% ./ */; *( %(.-*/ & D(.(- . *(/ .*&%(+ / */;.<
E8()*(+ 7(-+ &4 1 *&/ 4. 4* . =&* :5 9 =& +(.(-<
O*(% 0*(%-. %(@%(+ / 4. 8%&)(../ %( )%*&/ /+ 8-.*) =<
&* )%*&/ /+ 8-.*) =. .(+ . %8/ *( 4--(*< I/ ++*&/ 8-.*)
=&**-(. %( %(@%(+ . )&/*/(% 4&% .(.0( .((+ /+ =& +(.(- &-<
3.3 Consu-+tion and Cost o$ Ra5 Materials
G(/(*) -/(. %( %(@%(+ &/)( * *( =(/// &4 *( 8%&'()*< T(
4)*&%(. -- =7 (/(*) -/(. 4%&0 ;/&/ (/(*) /.***( * )&.* &4
5, USD<
"&&+ +?(%.&/ . 1$2 .& 55 6 *&/ -- =( /((+(+< "/(%-/. 4&&+
-- =( 35 8%&*(/ /+ 4**(// 3 8%&*(/< ". 4&&+ . 0'&%
4//)( (-(0(/* #5>:5 4%&0 8%&+)*&/ )&.*<
25
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"&% 1 ; 4--(* &/( 8()( &4 )%*&/ * +0(/.&/ &4 29
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D%()* M*(%-.
W.*( 4%&0 4--(*/ 8-/* *&/(. !5 5625 #5
A-%7 M*(%-.
1.P-.*) =&**-( 5 F
P). #2 9 12
2. P-.*) =&**-( 35 F P). 36 !5 6
Table ;/! 'nit +rice and annual cost o$ -aterials
Descri+tion'nit+rice
*ear 6 *ear ! *ear ;
Filleting +rocessing +lant
D%()* M*(%-.
1. "&&+ 4&% 4/(%-/. 2#,2: !91,! 6,16 :1:,!
2. "&&+ 4&% 8%(/*. 2,13 2!1,56 31,95 !2,6
3. "&&+ 4&% *%// 5,55 2,99#, 3,#!6,25 !,995,
4. "&&+ 4&% 4**(// !,!5 :,2##, 1,3!6,25 13,#95,
A-%7 M*(%-.
5. C%*&/ 12 3,2!, 3,#:, 5,!,
6. P-.*) = 13 #,2 :#,#5 11#,
esa-e seed oil +lant
D%()* M*(%-.
S(.0( .((+ 5, 69,, :6,25, 115,,
A-%7 M*(%-.
P-.*) =&**-( 3 36, !5, 6,?io > diesel oil +lant
D%()* M*(%-.
W.*( 4%&0 4--(*/ 8-/* > > > >
A-%7 M*(%-.
1. P-.*) =&**-( 5 F ! 2::, 36, !:,
2. P-.*) =&**-( 35 F 3 1,:, 1,35, 1,:,Total H"BH"" 6":H:
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%(@%(+ 4&% 4)*&%7 /+ &44)( =-+/ -*. /+ &*(% (/(%- .(%?)(.<
L& ?&-*(, *%((>8.( 3: !V, 5HBF /+ ./-(>8.( 22>
2!V, 5HBF 8&(% . %(@%(+ 4&% *( %/// &4 -- (@80(/* /+
0)/(%7 / *( 8-/*< T( .88-7 &4 8&(% -- =( 4%&0 *( /*&/- %+
&8(%*(+ =7 *( E*&8/ E-()*%) P&(% C&%8&%*&/ EEPC&F< I* .
(.*0*(+ ** *&*- &4 1 KVA 8&(% . %(@%(+, ) )&-+ =(
.88-(+ 4%&0 15;V &?(%(+ 8&(% -/( 8../ =7 *( 8-/* .*(< A
.*(8>+&/ *%/.4&%0(% -- =( %(@%(+ *& %(+)( *( ?&-*( *& 3:22
V<
W*(% . .(+ 4&% +%/;/, 4)*&%7 )-(//, *&-(*., ./ /+
%+(//< W*(% .88-7 -- =( %%/(+ =7 *( W*(% S88-7 A*&%*7/+ *( +-7 )&/.08*&/ -- =( 8 *& 2 03<
IV. PANT L1CATI1N AND %NIR1NM%NTAL
C1NID%RATI1N
4.1 Location
T/ L;( )&/*/. 4%(. *(% /+ %(-*?(-7 %*( &4 0)%&&%/.0<
T/ L;( . / +(- 8-)( *& -&)*( / 4. 4%0. / )(. /+ .8()--7
T-8< S*(. .&-+ =( )%(4--7 8);(+, *;/ /*& )&/.+(%*&/ -&)-
.= .*%(0. /+ &7(/ -(?(- / *( *(%<
S(?(/ /+%(+ 4. )(. / *( .B( &4 555 *& =( /.*--(+ / +(4/(+
.*(. / *( -;(< T( =%((+/ .7.*(0 -- =( -&)*(+ &/ *( .*( &4 *(
4)*&%7 .(?(/ ;-&0(*(%. 4%&0 *( -;(< T( -&)*&/ &4 *( 8-/* -- =(.(?(/ ;-&0(*(%. 4%&0 *( -;(<
T& .*(. -- =( .(-()*(+ *& &-+ *( )( .7.*(0< E?(%7 .*( -- &-+
8%&+)*&/ /* &4 2>3 *&/< E?(%7 4%0 -- &-+ 19 *%// )(.
/+ #! 4**(// )(.< T&*- /?(.*0(/* / (?(%7 4%0 -- =(
28
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88%&0*(-7 1
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- S-%+ C*4. 1 *&/+7
- %=. C%8 6 *&/+7
Total B" tonEday
A4*(% 4--(*/, -- 4. %( 8);(+, ((+ /+ *%/.4(%%(+ *& 4%((B/ /+>1:&C .*&%( /*- +.8*)< P%&+)*&/ &*8* . =.(+ &/ 8-/* &%;/
&/( 1 &% .4*
Filleting +rocess7
R()(?( 4. / 8-.*) )%(*(., )&?(%(+ / )( 4-;(.< S*&%( / &C )&-+
.*&%(< P%&)(../ &/ +(0/+ &4 8%&+)*&/< T(/ *%/.4(% *( 4. /*&
)&/*/(% 4%&0 ) -& )&/?(7&% *;(. *( 4. *& *( %*- =-&&+
-(**/ *=-(.< A *=-( 4%&0 () .+( &4 *( )&/?(7&% -(**/ &8(%*(+ &/
*( *=-( 2 *=-(. &/( 4%&0 () .+( &4 *( )&/?(7&%F< A/ 88(%
)&/?(7&% *;(. *( 4. *& *( =-((+/ *(% */;, D( .)-/ 0)/(
/+ W./ /+ +./4()*&/ */;
Filleting roo-7
A4*(% ./ /+ +./4()*&/ *( 4. . *%/.4(%%(+ ?- )&/?(7&% &% .-+(
*& 4--(*/ %&&0 (%( 4. &0( %(0&?-, .;/ %(0&?- /+ 4/-
*%00/ *;( 8-)(< T(/ 4--(* / *%7. . *%/.4(%%(+ *& 4%((B/ &/
.*/-(.. .*((- *%&--(7.<
Free2ing
". 4--(* *%&--(7. %( (-+ / 4%((B/ /*- *( *(08(%*%( / *( )(/*(%
&4 *( 8%&+)* -- %() >1:&C< A4*(%%+. *( *%&--(7 . *%/.4(%%(+ *&
*( 8);/ %&&0<
Pac0ing
30
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(4&%( 8);/, *( 4. / *( 8);/ %&&0 %( *%/.4(%%(+ *& )&-+
*(% */; 4&% -B/< T( 4. . 8);(+ 4&% ?%&. )&00(%)-
+(0/+.$ =-; 8);(, *%7., =. /+ )%*&/ 8);(< A4*(% &-(.-(
8);/ / )%*&/., .(-/, (/ /+ -=(-/ *%/.4(%%(+ *&
.*&%( / 1:&C /*- +.8*)<
5.2 Details o$ Cost %sti-ateE In4est-ents
T( /?(.*0(/*. %(@%(+ 4&% *( 8-/* )/ =( %&8(+ / *(%0. &4 *(
*78( &4 )*?*(. *( )&08/7 -- /?&-?(+<
5.2.1 Machineries and e.ui+-ents
Ite- Descri+tion tyTotal Price in
'D
Fishing syste-
1"./ &*. * A))(..&%(. 5 16,5
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21O7(/B(%. 1 65,
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ub total :H""""
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1"%0 P%(.+(/* 1 2, 2!,
2CEO 1 15, 1:,
3"//. M/(% 1 1, 12,
!P%&4(..&/- A...*/)( ! :, 3:!,
5M/ P&(% M/(% 1 :, 96,
6P%)./ M/(% 1 :, 96,
#A...*/)( 2 6, 1!!,
:S()%(*%7 6 2, 1!!,
9A))&/*/ M/(% 1 :, 96,
1A...*/)( 6 6, !32,
11L(- D?.&/ 2 :, 192,
12M/*(//)( 2 5, 12,
13C-(// 2 1, 2!,
1!D%?(%. 2 1,5 36,
15M(..(/(%. 2 5 12,
16G%+ 6 1, #2,
Total B" !;HH"""
Pro$essionalection
1P%&4(..&/- M/(%"&%(/(%F
1 13, 156,
2L&)- P%&4(..&/- G+(. 3 1, 36,
3H(+ V(*(%/%/ 1 :, 96,
!V(*(%/%/ 3 6, 216,
5&-&.* 1 6, #2,
6S()%(*%7 2 2, !:,
#D%?(%. 2 1,5 36,
Total 6; #HB"""
Manu$acturingection
1M/(% 1 :, 96,
2S()%(*%7 1 1,5 1:,
3A))&/*/* 1 6, #2,
!A...*/* 1 !, !:,
5M%;(*/ M/(% 1 :, 96,
6P%).(% 1 1,5 1:,#D%?(%. 1 1,5 1:,
:C-(// 2 1, 2!,
Total # ;#""""
Fingerlings Far-1"&%(/ E8(%* 1 13, 156,
36
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2L&)- V)( P%(.+(/* 1 13, 156,
3D.*%=*&% 1 6, #2,
!S()%(*%7 1 1,5 1:,
5S8(%?.( > P%(/*. 1 !, !:,
6S8(%?.( > "/(%-/. 1 !, !:,
#"((+/ W&%;(%. 2 2, !:,:P&/+ W&%;(%. 1 2, 2!,
9E-()*%)/ 1 2,5 3,
1P-0=(% 1 2,5 3,
11M/*(//)( 2 3, #2,
12W%(&.( 1 3, 36,
13C-(// 1 1, 12,
1!G%+. ! 1, !:,
15D%?(%. 2 1,5 36,
Total ;" 6"""""Fish Far-s
1S**&/ M/(% 1 :, 96,
2S()%(*%7 1 1,5 1:,
3A))&/*/* 1 !, !:,
!"**(// S8(%?.&% 1 !, !:,
5"((+/ W&%;(%. 1: 2, !32,
6P&/+ W&%;(%. 1: 2, !32,
#C( M/*(//)(W&%;(%.
5 3, 1:,
:W%(&.( A/+ N(*W&%;(%.
2 3, #2,
9G%+. 6 1, #2,
1D?(%. ! 1,5 #2,
11C-(// 2 1, 2!,
Total # 6B#B"""
Grand Total 66 :;":"""
VII. PR1K%CT IMPL%M%NTATI1N C9%D'L%
W( (8()* *( =/; *& ?- -&/ 4&% *( # &4 *( *&*- )8*-< I/ *(
0(/ *0( *( *%/.4(% &4 3 )8*- -- =( *%/.4(%%(+ 4%&0 &%
))&/*< S*( 8-/ 8%(8%*&/ /+ )&/.*%)*&/ -- =( +&/( / -(.. */
! 0&/*.J *( &.(. -- =( %(+7 4&% /.*--*&/ /+ .*%* 8 &4 *(
0)/(%7< I/ 8%(8%*&/ *0(, *( *-*(. -- -.& =( %(+7 -;(
37
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/.*--*&/ &4 (-()*%)*7, *(%, *(-(8&/( -/(. (*)< I/.*--*&/ &4
0)/(%7 -- *;( &/( 0&/*<
"&--&/ *( )&00(/)(0(/* &4 *( )&/.*%)*&/. &4 &.(., *(
08&%**&/ 8%&)(.. &4 *( 0)/(%7 /+ .&0( &*(% (@80(/* -- *;(8-)(< S+( =7 .+(, *( *%// &4 .*44. -- =( +&/(< T%// -- *;(
8-)( / *( 8%&)(.. &4 /.*--*&/ /+ *(/ 4*(%< O% 8%&+)*. -- =( &/
*( 0%;(* =7 *( (/+ &4 . 0&/* 4*(% 88%&?- &4 *( -&/<
7.1 Pro,ect i-+le-entation e8+ense
I* . ..0(+ .&0( )&.*. -- =( /)%%(+ .) . 4&% 4(.=-*7 .*+7J
(/(*) -/(. 8%&+)*&/ ;/&>& *%/.4(% *%// &4 &%;(%.FJ /+
+(.// )&.*< T(.( )&.*. %( . 4&--&$
?irr
1< "(.=-*7 .*+7
2< G(/(*) -/(. USD 5,F
3< P%&+)*&/ ;/&>& *%/.4(% *%// &4
&%;(%.F
!< D(.// )&.*
5,
5,551,25
1,3,
5,
Total +ro,ect i-+le-entation e8+ense
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Figure
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VIII. FINANCIAL T'D*
8.1 In4est-ent 1utlay
8.1.1 Planned In4est-ent Cost
A. /+)*(+ /+(% T=-( =(-&, *( *&*- 8-//(+ /?(.*0(/* )&.* &4 *(
8%&'()* . =&* %% 192,61,!#6< O* &4 ) %% 13!,:2#,333 . 4//)(+
=7 =/; /; -&/F /+ *( %(.* %% 5#,#:3,1!3 . 8%&0&*(%. &/
)&/*%=*&/ (@*7F<
Table H/67 In4est-ent Re.uire-ents
/N/ Descri+tion
ForeignPurchase
LocalPurchase
Total in ?irrA-ount in
'DA-ount in
?irr
6Machineries and e.ui+-ents 6B#!:"
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A -&/ &4 %% 13!,:2#,333 -- )&?(% -- )&.*. &4 0)/(%7 (@80(/*,
/+(% *( 4&--&/ *(%0.< T( *&*- -&/ &4 %% 13!,:2#,333 . *& =( %(8+
&/ 15 (@- //- /.*--0(/*. &4 %% 15,932,339 * 7(%-7 /*(%(.* %*(
&4 :
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S-%(. &4 /+%()* -=&% 9:!,U*-*(. (-()*%)*7, *(% /+*(-(8&/(F 2,15,S8%( 8%*. /+ 0/*(//)( 3,
D(8%()*&/ &4 0)/(%(. /+=-+/ 11,3##,336
Total 6BH66;;:Mar0eting and Ad-inistrationCost
S-%(. &4 .88&%*/ .*44 2,3::,O44)( .88-(. 15,D(8%()*&/ &4 ?()-(. /+4%/*%( 1,91,#62
Total BBBH
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8.3.3 ?alance $orecast
A))&%+/ *& *( 8%&'()*(+ =-/)( .((* &4 *( .*+7 Anne8 IF, *(
8%&'()* -- ?( D(=* (@*7 %*& &4 2
*( 8%&'()*<
8.4 iability and other -easure o$ +ro,ect 5orth
8.4.1 Inde8es
• N(* ))0-*(+ ). 4-& 2,#6,!!,25
• "//)- NPV ) :
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8.4.5 ?rea0 > e4en Point
T( =%(; (?(/ 8&/* )/ =( )-)-*(+ . 4&--&.$
EP A//- S-(.F A//- S-(. X A//- "(+ C&.*.A//- S-(. A//- V%=-( C&.*.
26,!#5, X 2,:#,51! 26,!#5, 1!5,1:,
%% 6#,5:6,316
O% * )/ -.& =( )-)-*(+ =7 EP 8(%)(/*( . 4&--&$
EP P(%)(/*(F A//- "(+ C&.*. X 1A//- S-(. A//- V%=-( C&.*.
2,:#,51! X 1 <26,!#5, 1!5,1:,
32
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C&/.*%)*&/ /+ %/// &4 *( 8%&'()* -- =%/ 0&%( (08-&70(/*
&88&%*/*(. *& -&)- 8(&8-(, ) . / 4?&% &4 08%&?/ *( -&)- -?/
.*/+%+<
A* *( .0( *0( *. 8%&'()* -- 8%&0&*( *( +(?(-&80(/* &4 &*(%
/+.*%(., /+ ?( %(* 8&.*?( 08)* &/ *( ()&/&0) /+ .&)-
+(?(-&80(/* / *( &-( %(<
9.2 Reco--endation
C&/.+(%/ *( 8%&+)*. =(**(% 4(*%(., *( )&/.(%?*?( (.*0*(. /
.-(., %(-.*) )&.* (.*0*(., /+ *( .&/+ 4//)- 8%&'()*&/. *( 8%&'()*
. )&/.+(%(+ ?(%7 ?=-(< T(%(4&%( * . %()&00(/+=-( *& 08-(0(/* *(
8%&'()*, . * . .&)- /+ ()&/&0)- =(/(4*.
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Annex I
Projected sales forecast
Product TypeProject Year
Y - 1 Y - 2 Y - 3 Y - 4 Y - 5 Y - 6 Y - 7 Y - 8 Y - Y - 1! Y - 11 Y - 12 Y - 13 Y - 14 Y - 15
apac#ty ut#l#$at#on %&'"0 75 100 100 100 100 100 100 100 100 100 100 100 100 100
ales 1 23 )8 85 )! !! 1 54 )8 56 )2 5! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !!
Processed fish $fillet% 50&'00&000 "(&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000
Sesame seed oil 7 2& 00 0& 00 0 * 0&0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00
io , diesel oil 1&')5&000 1&)5"&250 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000
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Annex II
Projected #nco*e state*ents %+#rr'
Part#cularsProject Year
Y - 1 Y - 2 Y - 3 Y - 4 Y - 5 Y - 6 Y - 7 Y - 8 Y - Y - 1! Y - 11 Y - 12 Y - 13 Y - 14 Y - 15,eenue.
(ales 1 23 )8 85 )! !! 1 54 )8 56 )2 5! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !! 2 !6 )4 75 )! !!
# Processed fish $fillet% 50&'00&000 "(&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000 )'&000&000
# Sesame seed oil 7 2&0 00 &0 00 * 0& 00 0& 00 0 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00 1 20 &0 00 &0 00
# io , diesel oil 1&')5&000 1&)5"&250 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000 2&'75&000
/anufactur#n0 cost
# a! materials ) 5&5 0' &) 00 1 0" &) )1 &0 00 1 '2 &5 0) &0 00 1 '2 &5 0) &0 00 1 '2 &5 0) &0 00 1 '2 &5 0) &0 00 1 '2 &5 0) &0 00 1 '2 &5 0) &0 00 1 '2 &5 0) &0 00 1 '2 &5 0) &0 00 1 '2 &5 0) &0 00 1 '2 &5 0) &0 00 1 '2 &5 0) &0 00 1 '2 &5 0) &0 00 1 '2 &5 0) &0 00
# Direct labor 2&*('&000 2&*('&000 2&*('&000 (&110&0'0 (&2*"&"'2 (&'*'&''1 (&70'&107 (&*2"&(5' '&1"1&*(5 '&'11&"51 '&"7"&(50 '&*5"&*(1 5&25'&('7 5&5"*&"0) 5&*0(&7)'
# Factor- o.erhead 1(&"51&((" 1'&1*)&)(" 1'&)11&((" 1'&)70&(7" 1'&*(2&*5) 1'&***&2*" 15&0"*&"1( 15&1''&150 15&22(&15* 15&(0"&*0) 15&(*5&")2 15&')*&7)( 15&5)*&5(0 15&"*5&2"2 15&)07&((7
# /mortiation '*(&'17 '*(&'17 '*(&'17 '*(&'17 '*(&'17 '*(&'17 '*(&'17 '*(&'17 '*(&'17 '*(&'17 '*(&'17 '*(&'17 '*(&'17 '*(&'17 '*(&'17
Total *anufactur#n0 cost 1 !2 )5 83 )5 52 1 24 )5 !7 )2 52 1 6! )7 46 )7 52 1 6! ) 81 )8 32 1 61 )2 31 )! 17 1 61 )4 5 )1 53 1 61 )7 75 )1 37 1 62 )! 71 ) 2! 1 62 )3 86 )5 1! 1 62 )7 1 ) 76 1 63 )! 73 )4 4 1 63 )4 48 )1 31 1 63 )8 45 )2 4 1 64 )2 66 )2 86 1 64 )7 12 )5 38
ross Prof#t %loss' 21)3!1)448 3!)348)8 45)728)248 45)43)168 45)243)83 44)7)847 44)6)863 44)4!3)!8! 44)!88)4! 43)755)!24 43)4!1)551 43)!26)86 42)62)7!6 42)2!8)714 41)762)462
ess. /aret#n0 2&*0)&")2 (&15)&1"2 '&'')&7"2 '&5*5&0'2 '&7'*&*7* '&*1'&0)* 5&0)7&*22 5&272&057 5&'"7&110 5&"7(&7(' 5&)*2&"20 "&12'&502 "&(70&155 "&"(0&'05 "&*0"&12(
#nanc#al cost.
# nterest on in.estment loan 11&2)1&)"" 10&)70&)0) 10&'2(&'17 *&*("&')1 *&'0"&50' )&)2*&")( )&201&)7" 7&51)&57" "&77'&))0 5&*"5&'') 5&0)'&'"* '&125&"21 (&0)2&020 1&*'"&17' 70*&*(0
et prof#t %loss' efore tax 7)11!)!! 16)32!)!27 3!)856)!68 3!)61)644 31)!87)5!! 31)236)!75 31)41!)!65 31)612)447 31)846)5!! 32)115)843 32)424)461 32)776)746 33)177)531 33)632)135 34)146)4!8
Prof#t tax %3!&' - - - - - )37!)822 )423)!2! )483)734 )553)5! )634)753 )727)338 )833)!24 )53)25 1!)!8)64! 1!)243)23
et prof#t %loss' after tax 7)11!)!! 16)32!)!27 3!)856)!68 3!)61)644 31)!87)5!! 21)865)252 21)87)!46 22)128)713 22)22)55! 22)481)!! 22)67)123 22)43)722 23)224)272 23)542)44 23)!2)486
Accu*ulated prof#t 7 )11!) !! 23) 43!) 27 54 )286) 5 85) 248) 64! 116)336 )13 138)2! 1)31 16!)1 88)437 182) 317)15 ! 2!4)6!) 7!! 22 7)!! )7! 2 4)787) 13 272) 731) 635 25) 55)! 7 31) 48)4 !2 343)4! !)887
Annex IIIProjected cas flo state*ent %+#rr'
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Part#cularsPre -
9perat#n0Per#od
Project Year
Y - 1 Y - 2 Y - 3 Y - 4 Y - 5 Y - 6 Y - 7 Y - 8 Y - Y - 1! Y - 11 Y - 12 Y - 13 Y - 14 Y - 15
A(: I9; e0#nn#n0 cas alance %773)167' 5)136)765 27)53)774 62)417)431 1!1)164)732 12)54)1!1 167)86)!34 15)5)328 223)516)5!7 25!)5!3)328 2!4)332)234 23!)!55)587 255)!7)71 27)355 )44 3!2)82)718
eenue.
ash Sales 11(&552&**1 1'1&*'1&2(* 1)*&25'&*)5 1)*&25'&*)5 1)*&25'&*)5 1)*&25'&*)5 1)*&25'&*)5 1)*&25'&*)5 1)*&25'&*)5 1)*&25'&*)5 1)*&25'&*)5 1)*&25'&*)5 1)*&25'&*)5 1)*&25' &*)5 1)*&25'&*)5
ollection 10&((2&00* 12&*15&011 17&220&015 17&220&015 17&220&015 17&220&015 17&220&015 17&220&015 17&220&015 17&220&015 17&220&015 17&220&015 17&220&015 17&220&015
3!n fund 57&7)(&1'( , , , , , , , , , , , , , , ,
4oan from bank 1('&)27&((( , , , , , , , , , , , , , , ,
Total "as Inflo 12)61!)476 112)77)824 157)41!)!13 22)763)77! 268)82)431 3!7)63)732 336)42)1!1 374)344)!34 4!2)434)328 42)1)5!7 456)78)328 41!)8!7)234 436)53!)587 461)554)71 485)83! )44 5!)3!4)718
A(: 9Projected +alance (eet %+#rr'
Part#culars Pre - Project Year
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operat#n0per#od Y - 1 Y - 2 Y - 3 Y - 4 Y - 5 Y - 6 Y - 7 Y - 8 Y - Y - 1! Y - 11 Y - 12 Y - 13 Y - 14 Y - 15
((?T(
urrent Assets
ash $77(&1"7% 5&1("&7"5 27&5*(&77' "2&'17&'(1 101&1"'&7(2 12*&*5'&101 1"7&)"*&0(' 1*5&*5* &(2) 22(&51"&507 250&50(&(2) 20'&((2&2(' 2(0&055&5)7 25 5&07*&7*1 27*&(55&'*' (02&)2*&71) (25&''5&5*2
a! Materials.entor-
11&)75&""7 11&)75&""7 11&)75&""7 11&)75&""7 11&)75&""7 11&)75&""7 11&)75&""7 11&)75&""7 11&)75&""7 11&)75&""7 11&)75&""7 11&)75&""7 11&)75&""7 11&)75&""7 11&)75&""7 11&)75&""7
/ccounts ecei.able , 10&((2&00* 12&*15&011 17&220&015 17&220&015 17&220&015 17&220&015 17&220&015 17&220&015 17&220&015 17&220&015 17&220&015 17&220&015 17&220&015 17&220&015 17&220&015
otal "urrent Assets 11)1!2)5!! 27)344)441 52)384)452 1)513)113 13!)26!)414 15)!4)783 16)64)716 225)!55 )!1! 252)612)18 27)5)!1! 233)427)15 25)151)26 28 4)175)473 3!8)451)175 331)25)4!! 354)541)273
xed Assets
Machineries anduipments
57&1"*&""1 57&1"*&""1 57&1"*&""1 57&1"*&""1 57&1"*&""1 57&1"*&""1 57&1"*&""1 57&1"*&""1 57&1"*&""1 57&1"*&""1 11'&((*&(2( 11'&((*&(2( 11'&((*&(2( 11'&((*&(2( 11'&((*&(2( 11'&((*&(2(
/u6iliar- euipment5&)2'&1() 5&)2'&1() 5&)2'&1() 5&)2'&1() 5&)2'&1() 5&)2'&1() 5&)2'&1() 5&)2'&1() 5&)2'&1() 5&)2'&1() 11&"')&277 11&"')&277 11&"')&277 11&"')&277 11&"')&277 11&"')&277
3ffice euipment andrniture
1&000&000 1&000&000 1&000&000 1&000&000 1&000&000 2&000&000 2&000&000 2&000&000 2&000&000 2&000&000 (&000&000 (&000&000 (&000&000 (&000&000 (&000&000 (&000&000
8ehicles& trucks andortable euipment
)&55(&)10 )&55(&)10 )&55(&)10 )&55(&)10 )&55(&)10 17&107&"20 17&107&"20 17&107&"20 17&107&"20 17&107&"20 25&""1&'(0 25&""1&'(0 25&""1&'(0 25&""1&'(0 25&""1&'(0 25&""1&'(0
uilding andonstruction
101 &55*&11" 101&55* &11" 101&55*&11" 101&55*&11" 101&55*&11" 101&55*&11" 101&55*&11" 101&55*&11" 101&55*&11" 101&55*&11" 101&55*&11" 101&55*&11" 101&55*&11" 101&55*&11" 10 1&55*&11" 101&55*&11"
ess9 /ccumulated
epreciation
, 1(&2))&0*) 2"&57"&1*" (*&)"'&2*( 5(&152&(*1 ""&''0&')* 7*&72)&5)7 *(&01"&")' 10"&(0'&7)2 11*&5*2&))0 1(2&))0&*7) 1'"&1"*&07" 15*&'57&17( 172&7'5&271 1)"&0((&("* 1**&(21&'"7
et #xed Assets 174)1!6)726 16!)818)628 147)53!)53! 134)242)432 12!)54)334 117)22!)!47 1!3)31)4 !)64 3)851 77)355)7 53 64)!67)656 123)327)168 11!)!3)!7! 6)75!)72 83)462)874 7!)174)777 56)886)67
ter Assets
Proectmplementation e6pense
7&'01&250 7&'01&250 7&'01&250 7&'01&250 7&'01&250 7&'01&250 7&'01&250 7&'01&250 7&'01&250 7&'01&250 7&'01&250 7&'01&250 7&'01&250 7&'01&250 7&'01&250 7&'01&250
ess9 /ccumulated
mortiation
, '*(&'17 *)"&)(( 1&')0&250 1&*7(&""7 2&'"7&0)( 2&*"0&500 (&'5(&*17 (&*'7&((( '&''0&750 '&*('&1"7 5&'27&5)( 5&*21&000 "&'1'&'17 "&*07&)(( 7&'01&250
7)4!1)25! 6)!7)833 6)414)417 5)21)!!! 5)427)583 4)34)167 4)44!)75! 3)47)333 3)453)17 2)6!)5!! 2)467)!83 1)73)667 1)48!)25! 86)833 43)417 -
9TA A((?T( 12)61!)476 15)!7!)!2 2!6)32)3 231)676)545 256)642)331 281)2!3)6 3!5)337)415 31)646 )14 333)421)85 346)627)165 35)222)166 371)164)!!5 38 2)4!6)65 32)!!)883 4!2)53)53 411)427)52
A+IITI?(
"urrent #a#l#t#es
/ccounts pa-able, , , , , , *&(70&)22 *&'2(&020 *&')(&7(' *&55(&*50 *&"('&75( *&727&(() *&)((&02' *&*5(&25* 10&0)*&"'0 10&2'(&*2(
otal current l#a#l#t#es- - - - - - )37!)822 )423)!2! )483)734 )553)5! )634)753 )727)338 )833)!24 )53)25 1!)!8)64! 1!)243)23
on0 ter* #a#l#t#es
4oans pa-able1('&)27&((( 1(0&17"&)"0 125&115&(2* 11*&"0"&'07 11(&"10&5'* 107&0)'&715 **&*)2&05) *2&251&5*5 )(&)(7&)(2 7'&")0&(7( "'&71(&')1 5(&)"5&"11 '2&05)&)*( 2*&20)&57' 15&222&'0* $0%
otal lon0 ter*a#l#t#es
134)827)333 13!)176)86! 125)115)32 11)6!6)4!7 113)61!)54 1!7)!84)715 )82)!58 2)251)55 83)837)832 74)68!)373 64)713)481 53)865)611 42)!58)83 2)2!8)574 15)222)4! %!'
;?,( ?@
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9TA IA+IITI?( C@
Internal ,ates of ,eturn "alculat#on
Part#cularsPre -
operat#n0per#od
Project YearY - 1 Y - 2 Y - 3 Y - 4 Y - 5 Y - 6 Y - 7 Y - 8 Y - Y - 1! Y - 11 Y - 12 Y - 13 Y - 14 Y - 15
ccumulated ash Flo! $ 77 (& 1" 7% ' &( "( &5 ** ( 1& *5 7& (7 ( * '& (7 '&) 0' 1 *5 &5 (* &5( " ( 25 &'* (& "( 7 ' *( &( "2 &" 71 " )* &(2 1& ** * * 12 &) () &5 0" 1& 1" (& (' 1& )( ' 1 &( "7 &" 7' &0" ) 1& 5*7 &7 2* &"5 5 1& )5 2& )0 *& '' " 2 &1 (2 &1 "' &*' 0 2 &' (' &* *' &" 5) 2 &7 "0 &' '0& 25 0
P8 $712&5*"% '&7('&('" 2(&'(*&"77 ')&)"7&112 72&**7&)"* )"&'25&()0 102&)*'&500 110&702&5)) 11"&(7)&21" 120&211&'5" *0&(7(&1"7 *(&77*&015 *5&)((&*07 *"&7(2&101 *"&"'5&"1" *5&72"&5(1
ccumulated :P8 $ 71 2& 5* "% ' &0 21 &7 50 2 7& '" 1& '2 7 7 "& (2 )&5 (* 1 '* &( 2" &'0 * 2 (5 &75 1& 7) * ( () &" '" &2 )* ' '* &(' )& )7 7 5 "5 &7 27 &0 *' " )5 &*( )& 5' * 77 "& (11 &7 1" ) 70 &0 *0 &7( 1 * "5 &*2 '& "( ) 1 &0 "2 &" 5" &7( * 1 &1 5* &( 02 &( 5' 1 &2 55 &0 2)& )) 5
et accumulated cash flo! 2&7"0&''0&250
P8 1&255&02)&))5
5);"5<
Annex >I
Projected f#nanc#al rat#o %&'
Part#cularsProject Year
Y - 1 Y - 2 Y - 3 Y - 4 Y - 5 Y - 6 Y - 7 Y - 8 Y - Y - 1! Y - 11 Y - 12 Y - 13 Y - 14 Y - 15 (ales /ar0#n.
5D74
1!D54
14D4 15D!
!15D!6 15D13 15D21 15D31 15D42 15D55 15D7! 15D87 16D!7 16D2 16D54Pre,ta6 profit
:et sales
D ,eturn on Asset %,9A'. 13D32 12D! 11D!6 1!D23 D83 D48 D1 8D4 8D74 8D57 8D44 8D35 8D3!
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3D65 7D1 6Pre,ta6 profit
=ross assets
,eturn on ?Bu#ty.
12D312
5D1537D
27D63
21D73 12D56 11D22 1!D15 D28 8D57 7D7 7D46 7D!3 6D66 6D34:et profit after ta6
apital + eser.e
"urrent ,at#o.
- --
-- 2)1!1D8 2)388D35 2)663D64 2)26D53 2)422D77 2)664D15 2)8!D!1 3)!D!! 3)28D76 3)46!Durrent assets
urrent liabilities
,eturn on #nest*ent. 1
65D4237
D64717D7
72!D24
723D17 726D63 73!D67 735D38 74!D83 747D! 754D27 762D47 771D7 782D36 74D33Pre,ta6 profit
apital in.ested
=et ,at#o.
66D736
!D6451D63
44D27
38D!8 35D81 31D81 27D 24D3! 2!D7! 17D13 13D57 D7 6D2 2D4>otal debt
>otal assets
Annex >II
(u**ary of annual operat#n0 cost
o "ost Ite*sTotal Annual A*ount %+#rr'
Y - 1 Y - 2 Y - 3 Y - 4 Y - 5 Y - 6 Y - 7 Y - 8 Y - Y - 1! Y - 11 Y - 12 Y - 13 Y - 14 Y - 151,a /ater#als 85)5!4)8!! 1!6)881)!!! 142)5!8)!!! 142)5!8)!!! 142)5!8)!!! 142)5!8)!!! 142)5!8)!!! 142)5!8)!!! 142)5!8)!!! 142)5!8)!!! 142)5!8)!!! 142)5!8)!!! 142)5!8)!!! 142)5!8)!!! 142)5!8)!!!
2=#rect aor 2)34)!!! 2)34)!!! 2)34)!!! 3)11!)!4! 3)26)642 3)44)441 3)7!4)1!7 3)26)354 4)161)35 4)411)651 4)676)35! 4)56)31 5)254)347 5)56)6!8 5)!3)784
3actory 9er :ead 13)6 51) 336 14)1 8)8 36 1 4)8 11)3 36 14)87 !)3 76 14 )3 2)58 14) )26 15) !6)6 13 15) 144)1 5! 15) 223)1 5 1 5)3 !6)! 8 1 5)3 5)68 2 1 5)48) 783 1 5)58) 53! 15 )65) 262 15)8 !7) 337
Salaries of indirect labor *)'&000 *)'&000 *)'&000 1&0'(&0'0 1&105&"22 1&171&*"0 1&2'2&277 1&(1"&)1' 1&(*5&)2( 1&'7*&572 1&5")&('7 1&""2&''7 1&7"2&1*' 1&)"7&*2" 1&*)0&001
?tilities 1&2*0&000 1&"12&500 2&150&000 2&150&000 2&150&000 2&150&000 2&150&000 2&150&000 2&150&000 2&150&000 2&150&000 2&150&000 2&150&000 2&150&000 2&150&000
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Spare parts andmaintenance
, 225&000 (00&000 (00&000 (00&000 (00&000 (00&000 (00&000 (00&000 (00&000 (00&000 (00&000 (00&000 (00&000 (00&000
Depreciation ofmachineries @ building
11& (77& ((" 11& (77& ((" 11& (7 7& ((" 11& (7 7& ((" 11 &(7 7& ((" 11 &(7 7& ((" 11& (77& ((" 11& (77& ((" 11& (77& ((" 11& (7 7& (( " 11& (7 7& (( " 11& (77& (( " 11& (77& ((" 11 &(77& ((" 11& (77& (("
4/aret#n0 andAd*#n#strat#on "ost
2)!8)682 3)158)162 4)448)762 4)55)!42 4)74)7 4)14)!8 5)!87)22 5)272)!57 5)467)11! 5)673)734 5)82)62! 6)124)5!2 6)37!)155 6)63!)4!5 6)!6)123
Salaries of supportingstaff
*07&*20 1&1('&*00 2&())&000 2&5(1&2)0 2&")(&157 2&)''&1'" (&01'&7*5 (&1*5&")( (&()7&'2' (&5*0&""* (&)0"&10* '&0('&'7" '&27"&5'' '&5((&1(7 '&)05&125
3ffice supplies *0&000 112&500 150&000 15(&000 15"&0"0 15*&1)1 1"2&("5 1"5&"12 1")&*2' 172&(0( 175&7'* 17*&2"' 1)2&)'* 1)"&50" 1*0&2("
Depreciation of .ehiclesand furniture
1&*10&7"2 1&*10&7"2 1&*10&7"2 1&*10&7"2 1&*10&7"2 1&*10&7"2 1&*10&7"2 1&*10&7"2 1&*10&7"2 1&*10&7"2 1&*10&7"2 1&*10&7"2 1&*10&7"2 1&*10&7"2 1&*10&7"2
5A*ort#$at#on 43)417 43)417 43)417 43)417 43)417 43)417 43)417 43)417 43)417 43)417 43)417 43)417 43)417 43)417 43)417
Total 1!5)42)234 127)665)414 165)15)514 165)576)874 165)8!)6 166)4!)243 166)863)!5 167)343)77 167)853)62! 168)33)71! 168)66)!6 16)572)633 17!)215)44 17!)86)61 171)618)662
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>he operating costs ha.e been calculated for the -ear of operation !hen the designed capacit- is
e6pected to be utilied;
/ssumptions9
# >he operating cost computation is based on the data contained in the pre.ious section of
this report; >hese data include the product outputs& reuirement of labor& consumables&
spare parts& fuel& electric energ-& !ater& etc;
# /ll costs and normati.e .alues used in this cost estimates are based on the data
a.ailable on the current market and assumed to increase b- 5< e.er- -ear
# ost of electric energ- has been calculated based on the annual po!er reuirement and
the cost of irr 0;'1") per k!h& if the energ- suppl- is pro.ided from the e6ternal po!er
transmission line;
# A6penses for spare parts and maintenance during the operation of machineries are
assumed to be 2< of their cost;
- alculation of the depreciation charges ha.e been made on the basis t!ent- -ears is
assumed as an effecti.e ser.ice -ear for building& ten -ears for machineries @
euipments& fi.e -ears for .ehicles and furniture
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>he cost of purchase of pure blood is amortied o.er 5 -ears period;
Annex >III
oans ,epay*ent (cedule
Project YearPr#nc#pal
%+#rr'Interest
%+#rr'+alance
,educt#on %+#rr'+an oan %+#rr'
0 , , , 1('&)27&(((
1 15&*(2&((* 11&2)1&)"" '&"50&'7( 1(0&17"&)"0
2 15&*(2&((* 10&)70&)0) 5&0"1&5(1 125&115&(2*
( 15&*(2&((* 10&'2(&'17 5&50)&*22 11*&"0"&'07
' 15&*(2&((* *&*("&')1 5&**5&)5) 11(&"10&5'*
5 15&*(2&((* *&'0"&50' "&525&)(5 107&0)'&715
" 15&*(2&((* )&)2*&")( 7&102&"5" **&*)2&05)
7 15&*(2&((* )&201&)7" 7&7(0&'"( *2&251&5*5
) 15&*(2&((* 7&51)&57" )&'1(&7"( )(&)(7&)(2
* 15&*(2&((* "&77'&))0 *&157&'5* 7'&")0&(7(
10 15&*(2&((* 5&*"5&'') *&*""&)*1 "'&71(&')1
11 15&*(2&((* 5&0)'&'"* 10&)'7&)70 5(&)"5&"11
12 15&*(2&((* '&125&"21 11&)0"&71) '2&05)&)*(
1( 15&*(2&((* (&0)2&020 12&)50&(1* 2*&20)&57'
1' 15&*(2&((* 1&*'"&17' 1(&*)"&1"5 15&222&'0*
15 15&*(2&((* 70*&*(0 15&222&'0* $0%
Total 238)85)!86 1!4)157)753 134)827)333 $0%