DETERMINING THE ECONOMIC EFFICIENCY OF PROJECTS ON TECHNICAL RE-EQUIPMENT OF INDUSTRIAL ENTERPRISES

In today's conditions, when the import substitution strategy and modernization of production, aimed at strengthening the competitiveness of domestic enterprises, are in the centre of the economic policy of the state, special attention belongs to the issues of technical re-equipment of enterprises providing improved productivity and reduced production costs. Technical re-equipment of enterprises means a range of measures to improve the technical and economic level of individual industries, shops, through the introduction of advanced equipment and technology, mechanization and automation of production, upgrading and replacement of obsolete and worn-out equipment with new and more productive. The aim of technical upgrading of existing industrial enterprises is to enhance their economic, industrial and technological capacities, to increase production capacity and manufacture competitive products while ensuring required quality, increased productivity, reduced material and production costs, improving other indicators of activities of the enterprise. Technical re-equipment is done on projects and budgets for individual objects or activities developed in the framework of an integrated program of restructuring and development and technical re-equipment of enterprises, usually without the extension of the production area. When planning technical re-equipment, a comprehensive program is developed, in which investment projects are systemically integrated which solve the tasks of retooling in separate industries, shops, stations and the enterprise as a whole. The projects are implemented through federal funds allocated within the federal target program (FTP), and at the expense of the funds of the integrated structure which includes the enterprise. Literature on investment analysis describes in some detail the procedure for determining the economic viability of new business projects, i.e. the so-called "projects from a scratch". At the same time, methodological questions of the feasibility of the investment projects' efficiency (especially small capital investments) to amend the existing production at existing enterprises, the so-called "change projects", are not developed enough. The article examines some characteristics of estimation of economic efficiency of projects to change production and property complexes aimed at reequipment of the production of existing enterprises.