THE EFFECTIVENESS OF INVESTMENTS IN TOLL ROADS USING THE EXAMPLE OF THE IRKUTSK REGION

ЭФФЕКТИВНОСТЬ ИНВЕСТИЦИЙ В ПЛАТНЫЕ АВТОМОБИЛЬНЫЕ ДОРОГИ НА ПРИМЕРЕ ИРКУТСКОЙ ОБЛАСТИ

Мамедова Ирина Алексеевна

студент группы ССЭм-23-1, Института архитектуры, строительства и дизайна, Иркутский национальный исследовательский технический университет,

РФ, г. Иркутск

Шадаева Лада Иннокентьевна

научный руководитель, канд. филол. наук, доц. кафедры иностранных языков №1, Иркутский национальный исследовательский технический университет,

РФ, г. Иркутск,

ABSTRACT

World practice shows that toll roads are very popular and involve high risks. The purpose of this article is to analyze the results of the study of the effectiveness of investments in toll roads on the example of the Irkutsk region. The work uses mathematical methods, models for assessing transport demand and methods for assessing the economic efficiency of investment projects. One of the key issues is the analysis of the main factors and parameters determining the feasibility of building toll roads. The result is not only the construction of the road and the estimate. But it is also possible that the business plan of the road may show the economic futility of their toll operation, in particular due to the small traffic flow. The roads will be operated as usual and owned by the state. Therefore, this work may be of interest to investors, designers and builders of paid object.

АННОТАЦИЯ

Мировая практика показывает, что платные дороги очень популярны и сопряжены с высокими рисками. Целью данной статьи является анализ эффективности инвестиций в платные дороги на примере Иркутской области. В работе использованы математические методы, модели оценки транспортного спроса и методы оценки экономической эффективности инвестиционных проектов. Одним из ключевых вопросов является анализ основных факторов и параметров, определяющих целесообразность строительства платных дорог. Результатом является не только строительство дороги, но и смета. Не исключено, что бизнес-план дорог может показать экономическую нецелесообразность их платной эксплуатации, в частности, из-за небольшого транспортного потока. Дороги будут эксплуатироваться в обычном режиме и принадлежать государству. Поэтому данная работа может быть интересна инвесторам, проектировщикам и строителям платных объектов.

Keywords: toll roads, calculating, construction, efficiency, finance, estimation.

Ключевые слова: платные дороги, расчет, строительство, эффективность, финансы, оценка.

World practice shows that investments in the construction of toll roads are associated with high financial risks, and investment projects for roads need careful study. Unfortunately, relatively little domestic experience in attracting private investment has not been brought to the attention of road workers. This article is designed to help investors, designers and builders consider constructing a toll road, so the article can serve as a business plan.

Currently, all expressways in Russia are mainly built with public funds. Thus, the main problem of road workers is the lack of funding for the industry. To solve this problem it is necessary to attract investment from private investors. Then one of the important sources of investment in the Russian road sector should be the attraction of private capital, which means the construction of toll roads and vehicles.

Russia allowed the construction of toll roads back in 1992 due to attempts at market reforms, a crisis in the country and a serious deficit in budgetary investment. In the 1990s, on the initiative of local authorities, in the hope of attracting additional funds from private investors for the construction of large transport facilities, many business plans were drawn up and their commercial and social advantages were analyzed.

It turned out that due to the unfavorable ratio of living standards and living standards, the project was unable to attract a significant part of the investments (only about 10-20%, which is unlikely to be enough to create and maintain the payment system). But even for such a small fraction of the value, Russian investors do not have the necessary capital (at least tens of millions of dollars).

The Irkutsk region is a large region with a large number of roads, but their condition leaves much to be desired. But thanks to the national project, which makes it possible to speed up the bringing of roads to standard condition, repair work on roads of regional and intermunicipal importance has already made it possible to repair 207 sections with a total length of 969 kilometers and 233 sections with a total length of 260.7 kilometers on local roads. The governor of the Irkutsk region emphasizes that the region will continue cooperation in this direction. Large facilities have already been put into operation on regional routes, including major repairs of the Irkutsk – Bolshoye Goloustnoye highway, which is one of three regional roads leading from Irkutsk to Lake Baikal.

What are the advantages of building toll roads?

1. The road surface is in excellent condition. It is monitored and repaired if necessary.

2. Several lanes for traffic in one direction create comfort, especially when driving for a long time. Due to multi-laning, the likelihood of traffic jams on busy sections of the roadway is reduced, and the average speed of a vehicle increases accordingly.

3. Developed infrastructure along the road - gas stations, snack bars and cafes.

4. Timely cleaning of asphalt during snowfalls increases safety for the car, driver and its passengers when traveling on such a road.

5. In case of emergency incidents, they are recorded by surveillance cameras and the special services are immediately called.

6. Saving transportation costs when traveling on a toll road or road facility due to less tire wear, reduced consumption of fuels and lubricants, reduced repair costs and costs for other items of transportation costs;

7. Saving time when transporting passengers and delivering goods, as well as increasing traffic safety and comfort;

8. Increasing environmental safety by reducing air pollution with fine dust.

Despite the number of positive aspects of toll roads, there are also disadvantages:

The main disadvantage of a commercial road is the price of travel on it. On some roads it ranges from 1 to 10 rubles for each kilometer traveled. If you use it often and a lot, you get an impressive amount.

Another drawback is the accumulation of queues of cars before entering and exiting the toll section. Such a “traffic jam” can negate all the advantages of fast driving along the paid route.

Too boring - A car trip on a toll road often turns into a dull trip along a faceless highway. No villages, no churches - just kilometer markers and an endless ribbon of bump stops. Sometimes this can be fraught with danger: such monotony can make the driver sleepy.

The state company Avtodor (full name - Russian Highways) is involved in toll highway projects in Russia. It is very often confused with Rosavtodor (Federal Road Agency), which also builds federal highways, but exclusively free. Money from tolls is used for the operation and repair of toll roads, as well as for the return of funds invested in the construction or reconstruction of roads by investors who, after the completion of the contracts, will transfer the roads to the state.

Income from the commercial use of toll road facilities is 5-10% of the total income, which is divided into two parts: proportional and disproportionate traffic intensity. The first part (4-9%) of revenue is received from commercial enterprises (cafes, gas stations, service stations, shops) located along the toll road, the size of which is proportional to the intensity of traffic on the road. The second part of the revenue (2-6%) is income from advertising, parking rentals and accommodation fees for other businesses located in the toll zone. This portion of the income is considered proportional to the length of the road structure. The estimated cost of the roadway was calculated, which came out to 9.5 million rubles, the cost does not include the installation of lighting and video cameras.

We determine one-time costs for organizing toll travel. These include:

• fees for opening and registering a public joint stock company (PJSC); - 62500 rub.
• fees collected for the rental of corporate office buildings on toll roads; -(approximate figure 200,000 rubles)
• cost of construction of the checkpoint;
• expenses for office equipment of public joint stock companies of toll road structures and toll collection enterprises, as well as expenses for installing equipment at checkpoints;
• the cost of equipment for the method of expanding the checkpoint at both ends of the toll section.

Table 1.

Costs of opening and registering a Public joint stock company

Toll roads can generate revenue from other areas of commercial operation:

-Advertising

-Commercial activity

-Vehicle transport service.

The calculations were made and on the picture you can see the structure of income from commercial use.

Table 2.

The structure of income from the commercial use of the toll road at the end of the first year of operation is characterized by the following data, %

Based on the calculation of the estimated cost for the construction of the roadway, a diagram of the income of the toll road was constructed.

Picture 3. Revenue structure of the toll road

To calculate the approximate cost of the road per 1 km, an estimate was calculated; the final values are presented in table № 4.

Table 4.

Final total values of the estimate for the construction of the toll road

Based on the calculation of the estimate, we can conclude that the construction of a toll road involves quite huge financial costs. So, for 1 km of road – 19,586,783 rubles. Most of which are occupied by material resources and delivery of goods to the construction site.

Despite the high capital intensity of toll roads, it can be said that the commercial attractiveness of their construction in Russia as a whole should not raise any doubts. Toll roads will not only save travel time on the road, but will also preserve the integrity of the vehicle due to high-quality road surfaces. In addition, attention should be paid to the economic development of the region, and the country as a whole, that it was possible to implement large infrastructure projects on the basis of public-private partnerships.

If we consider only the Irkutsk region and the effectiveness of the construction of toll roads in it, the opinion may be divided into two options. Toll roads are, first of all, high quality and fast. Second opinion: it is too expensive, both for the companies building and maintaining the road and for its users. Freight transport is very common in the Irkutsk region, as deliveries occur from different parts of the country. And for travel on toll roads by freight transport, this will cost a very tidy sum, therefore, freight transport will travel on public roads, and this is already a minus for users on toll roads.

In conclusion, if business plans for the construction of a toll road can show the economic futility of their toll operation, in particular due to the small traffic flow, then the roads will be operated as usual and owned by the state.

Список литературы:

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