| In the section | Articles |
| Title of the article | Economic Efficiency Estimation for Spatially Distributed Ferrous Metallurgy Projects |
| Pages | 7-28 |
| Author 1 | Tatiana Sergeevna Novikova Doctor of Sciences (Economics), Professor, Leading Researcher Institute of Economics and Industrial Engineering SB RAS 17 Akademika Lavrentieva Av., Novosibirsk, 630090, Russian Federation This email address is being protected from spambots. You need JavaScript enabled to view it. ORCID: 0000-0001-8636-5219 |
| Author 2 | Olga Igorevna Gulakova Candidate of Sciences (Economics), Senior Researcher Institute of Economics and Industrial Engineering SB RAS, 17 Akademika Lavrentieva Av., Novosibirsk, 630090, Russian Federation Associate Professor Novosibirsk State University 1 Pirogova St., Novosibirsk, 630090, Russian Federation This email address is being protected from spambots. You need JavaScript enabled to view it. ORCID: 0000-0001-5041-4795 |
| Author 3 | Sergey Pavlovich Petrov Candidate of Sciences (Economics), Associate Professor, Head of Department, Leading Researcher Institute of Economics and Industrial Engineering SB RAS, 17 Akademika Lavrentieva Av., Novosibirsk, 630090, Russian Federation This email address is being protected from spambots. You need JavaScript enabled to view it. ORCID: 0000-0002-6330-3602 |
| Abstract | This study develops a modern economic analysis methodology for a comprehensive evaluation of investment projects within the ferrous metallurgy sector. The developed methodology is designed quantitatively assess the impact of investment projects implemented in a specific territory and characterized by technological interdependence. It enables the measurement in monetary terms of the social, budgetary, and financial efficiency of investments in the development of the metallurgical complex simultaneously at the macroeconomic, regional, and microeconomic levels under various government support options. The developed methods for assessing economic efficiency take into account the project’s impact on society as a whole, arising beyond its institutional framework through interactions with related enterprises in the form of indirect and additional tax effects. The methodology was adapted for the example of the Amurstal metallurgical plant modernization project as part of the development of the Far Eastern Metallurgical Region. The calculation results demonstrate high economic efficiency indicators for the project, with a net present value of 23 751 million rubles at a discount rate of 17.8%. To identify key efficiency drivers, a scenario analysis was conducted, taking into account optimization of raw material supply logistics and various forms of government support. The most promising scenario in terms of long-term strategic impact is a supply chain modernization based on sourcing hot briquetted iron from the Kimkano-Sutarsky GOK instead of the geographically remote Lebedinsky GOK. The results demonstrate the high practical value of the developed methodology for substantiating strategic investment decisions |
| Code | 338.2+669 |
| JEL | R58, H43, L61 |
| DOI | https://dx.doi.org/10.14530/se.2026.2.007-028 |
| Keywords | economic efficiency, ferrous metallurgy, investment projects, indirect effects, government support, scenario analysis, Far Eastern Metallurgical Region |
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| For citation | Novikova T.S., Gulakova O.I., Petrov S.P. Economiñ Efficiency Estimation for Spatially Distributed Ferrous Metallurgy Projects. Prostranstvennaya Ekonomika = Spatial Economics, 2026, vol. 22, no. 2, pp. 7–28. https://dx.doi.org/10.14530/se.2026.2.007-028 (In Russian) |
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| Financing | This work was carried out as part of the research plan of the Institute of Economics and Industrial Engineering, Siberian Branch of the Russian Academy of Sciences (IEIE SB RAS), under Project 5.6.3.2. (FWZF-2024-0001) ‘Expert-Analytical, Organizational, and Methodological Components of the System for Indicative Planning of Scientific-Technological and Balanced Spatial Development of Russia in the Implementation of Large Investment Projects’ |
| Submitted | 26.01.2026 |
| Approved after reviewing | 29.04.2026 |
| Accepted for publication | 06.05.2026 |
| Available online | 30.06.2026 |