| Abstract [eng] |
The economic evaluation of lighting infrastructure modernization investment projects is a complicated complex analysis of innovative solutions implemented in lighting infrastructure in order to achieve economic efficiency. When solving real-life problems in areas such as street lighting, the economic need for public investment is based on several arguments - the supply of public goods, market failure, lack of capital, and so on. From a practical point of view, public investments are acceptable if their social benefits outweigh the social implementation costs, so a cost-benefit analysis method is used to compare different project alternatives and justify the best project choice. This method is used to compare the socio - economic benefits of the investment in relation to the costs of implementing the project. The aim of the final work is to perform the economic evaluation of the alternatives of the street lighting infrastructure modernization investment project after analyzing the possibilities of Klaipeda city lighting infrastructure modernization. Tasks set in the work: 1. To perform the analysis of the current situation of Klaipėda city street lighting infrastructure and to name the problems; 2. To present the theoretical aspects of public investment, the factors promoting it and its significance for the country's economy; 3. To analyze the methods of economic evaluation and risk assessment of investment projects; 4. To present the course of research methodology; 5. To perform economic and risk assessment of possible alternatives of Klaipeda city street lighting investment project. In the theoretical part, the analysis of the current situation of Klaipėda city street lighting infrastructure is performed and the analysis of the problems is named. An overview of the theoretical aspects of public investment, the factors promoting it and its significance for the country's economy is presented. Methods of economic evaluation and risk assessment of investment projects are analyzed. The empirical part analyzes the scope of Klaipeda city street lighting infrastructure modernization project, possible activities. Possibilities for the implementation of investment projects are clarified and possible alternatives are evaluated. A comparison of financial indicators, economic investment project and risk assessment is performed. The most socio-economically beneficial alternative is selected. The results of the study confirmed that all projects are economically unprofitable and inefficient for all three alternatives. It must be understood that street lighting is a public service, so projects need to be seen through a socio-economic prism. During the evaluation, various project implementation alternatives were considered, from which the alternative “Modernization of Klaipėda city street lighting in stages - according to priority streets” was selected and singled out as the most appropriate socio-economic effect. The benefits to society from this project outweigh the financial benefits. |
