ABAINER TERRAZZO & CEMENT PRODUCT MANUFACTURING PLC

1. CIVIL REPORT
EXISTING BUILDING AND CIVIL WORKS COLLATERAL VALUATION
ITEM DESCRIPTIPN
1 Production Block
2 Guard House (G+1)
3 Fence work
4 Compound work
5 Consultancy Fee
Total
Source: technical report dated November 02, 2022

REMAING WORK
ITEM DESCRIPTIPN
1 Main production Block
2 Office Block, toilet and changing room
3 Guard house
4 Septic tank
Total

2. MECHANICAL REPORT
A. Machineries and equipment
TECHNICAL EVALUATION
Promoter ;-Abainer Terrazzo & Cement Product Manufacturing PLC
Total Acquisition Cost= 255, 292.09 USD and 4,679,999 Birr
Production Capacity = 2-4ton/hr
Total Power Consumption=230kw
SUPPLIERS: - SHANGHAI SHIBANG MACHINERY SALES CO.,ltd
P.I :- SS20220407041A & Date :- 07/06/2022

S/No. DESCRIPTION

SCM 800 Mill and Siemens Motor

Grinding Mill SCM800
Sound Proof Room 2.76*2.76*2m
Classifier (frequency Control)
Blower(inc.muffler)
Puls dust Collector
Air Damper
Output Screw Conveyor
Discharge Valve
Connecting Pipe
Hopper
Belt Feeder
Material Layer Controller
Screw Type Air Compressor
Hammer Crusher
 Bucket Elevator
Jaw Crusher
Electrical Control Cabinet
Total FOB Price
Paking and Sewing Machine
1 Valve Type Packing Machine
2 Sewing Machine
Total FOB Price
Total Acquisition Cost( mill plnt and packing machine )
Sub-Total
Bank Charges (3%)
Sea Freight (4%)
Marine Insurance
Port Handling (1% )& Unloading ,Custom Clearing & Forwarding ,Loc
,Loading
( 3% )
Erection And Commissioning (1.5%)
Total Acquisition Cost

B Spare Parts
Spare Parts
1 spare parts
Sub-Total
Total Acquisition Cost (spare part)
Sub-Total
Bank Charges (3%)
Sea Freight (4%)
Marine Insurance (1% )& Unloading ,Custom Clearing & Forwarding ,Loc
Port Handling ,Loading
( 3% )
Total Acquisition Cost

C Generator
Supplier:- MPMC Powertech Jiangsu Co.LTD
Ref. No. MJ22ABAI001 and Date :-07/04/2022
S/No. DESCRIPTION
Diesel Generator Alternator
1 Model (SS4LIS-E4(Stamford)
Total FOB Price
Total Acquisition Cost (generator )
Sub-Total
Bank Charges (3%)
Sea Freight (4%)
Marine Insurance (1% )
Port Handling ,Loading & Unloading ,Custom Clearing & Forwardin
Total Acquisition Cost

D Office Equipment and Accessories

Suppliers: WE3COM IMPORT& EXPORT
Invoice No. :- W/I/E/0124/14 & Date:- 18/12/2014

NO. DESCRIPTION

1 Excutive Table
2 Excutive Chair
3 Reception Desk
4 Gust Chair
5 Secretary & Accountant Chair
6 Secretary & Accountant Table
7 Locker
8 Filing Cabinate
9 Display Cabinate
Total
15%VAT
Grand Total

NO. DESCRIPTION
Desktop Computer( Model : 3080,
Generation : 10th,Ram,4GB,hard disk:
1 1TB )
2 Printer ( Brand: HP,
3 Photo copy Machine ( Brand :canon)
4 Fax Machine ( Brand :HP)
5 Scanner Machine ( Brand :canon)
6 UPS ( Brand :Unmount)
Laptop ( Model : 1165, Generation :
7 11th,Ram,8GB,hard disk: 1TB )
8 Binding Machine ( Brand :COMBO)
9 Extension Cable
Total
15%VAT
Grand Total

C. VEHICLES
Supplier: - Nyala Motors S.C.
Ref. No. NM/NMS/0852/22(SR) and Date: - Jun 13, 2022
S/No. Description
Nissan URVAN Mini-bus ,16 Fixed
set
Total price (All Duty
REMARK
The manufacturing year is not stated , it should be brand new models

Supplier: -SINOTRUK INTERNATIONAL

Ref. No. AF229715XS and Date :-10/06/2022
 S/No. DESCRIPTION

1 SINOTRUK HOWO 6*4

TOTAL DUTY FREE P

Suppliers: -Moenco
Inv. No. 14062 & Dtae :- 25/08/2022
No. Description
TOYOTA HILUX P/UP DOUBLE
1 CABIN,CODE 2c
Total Duty Free A.A Price

Supplier: -LEILUO CHEN

Ref. No. ZZZ 0466/2022 and Date :-10/06/2022
S/No. DESCRIPTION

1 Transformer
VAT15%
Total Price

EXCHANGE RATE AS AT 30/01/2022

1 USD = 54.541
T PRODUCT MANUFACTURING PLC

ESTIMATD VALUE (Birr)

5,024,728.97
226,203.52
546,848.63
214,707.44
135,280.99
6,147,769.55

UNIT AMOUNT
ETB 2,029,989.46
ETB 999,027.26
ETB 115,264.53
ETB 189,835.93
ETB 3,334,117.18

acturing PLC

TOTAL
MODEL/TYPE KW QTY. PRICE IN
(USD)
800 Mill and Siemens Motor
SCM800 75 1
2.76*2.76*2m 1
18.5 1
45 1
DMC120 1 68,007.00
1
219-3m 5.5 1
200 1.1 1
1
3.5m3 1 3,144.00
300*60*1.8m 1 2,196.00
1 457.00
LGY-2.8/8 15 1 3,776.00
PC400*600 18.5 1 7,788.00
 TH200*9.79M 3 1 6,540.00
PE400*600 30 1 16,854.00
8,718.00
117,480.00
king and Sewing Machine
4 1 7,590.00
3 1 3,400.00
al FOB Price 10,990.00
on Cost( mill plnt and packing machine )
Sub-Total 128,470.00
3,854.10
5,138.80
oading ,Custom Clearing & Forwarding ,Local Transport And Other Cost 1,284.70
3,854.10
(1.5%) 1,927.05
Total Acquisition Cost 144,528.75

Spare Parts
5% 6423.5
Sub-Total 6423.5
l Acquisition Cost (spare part)
Sub-Total 6,423.5
192.70
256.94
oading ,Custom Clearing & Forwarding ,Local Transport And Other Cost 64.24
192.70
Total Acquisition Cost 7,130.08

UNIT PRICE TOTAL

Engine Model Prime Power Qty.
(USD) PRICE (USD)

6LTAA9.5-GI(Cummins) 320KVA 1 25075 25,075

Total FOB Price 25,075
Total Acquisition Cost (generator )
Sub-Total 25,075
Bank Charges (3%) 752.25
Sea Freight (4%) 1,003.00
Marine Insurance (1% ) 250.75
& Unloading ,Custom Clearing & Forwarding ,Local Transport And Other Cost ( 3% ) 752.25
Total Acquisition Cost 27,833.25
014

Unit Price
SPECIFICATION/UNIT Qty.
(ETB) Total Price in (ETB)
T-191 1 45,000.00 45,000.00
x3-k9 1 20,000.00 20,000.00
2RT20.01 1 65,000.00 65,000.00
GC-01 4 16,000.00 64,000.00
LIN-03 3 9,000.00 27,000.00
CASPER 3 13,000.00 39,000.00
L-9 4 18,000.00 72,000.00
A-64M 3 14,000.00 42,000.00
CA-1 2 9,500.00 19,000.00
Total 393,000.00
5%VAT 58,950.00
rand Total 451,950.00

SPECIFICATION/UNIT Qty. Unit Price (ETB) Total Price in (ETB)

Dell,core i 3
4 73,913.00 295,652.17
107A 1 40,000.00 40,000.00
2206 1 82,405.65 82,405.65
130tn 1 54,346.00 54,346.00
120 1 31,731.00 31,731.00
1 15,000.00 15,000.00

1165 2 61,147.82 122,295.65

5100 1 25,000.00 25,000.00
1 2,500.00 2,500.00
Total 668,930.47
15%VAT 100,340.00
Grand Total 769,270.47

3, 2022
Engine capacity Unit Price
Model Engine Code Qty.
(CC) (ETB)

NV350 YD25 2488 1 3,499,999

Total price (All Duty,Tax and VAT Included)

stated , it should be brand new models

 MAKE OF THE UNIT PRICE
MODEL ENGINE QTY.
YEAR (USD)
WD615.46,371
ZZ1257S4641W 2021 2 37,900
HP,EUROII
TOTAL DUTY FREE PRICE AT A.A

Model Code Variant code HP CC Qty

GUN125L-DNFSXN 2E 149 2393 1

Total Duty Free A.A Price

Unit Price Total Price

Engine Model Prime Power Qty. (USD)
(ETB)
315/15kv 1 1,026,087 1,026,087
VAT15% 153,913
Total Price 1,180,000
 3%
4%
1%
3%
1.50%

(7,130)

3%
4%
31,499 1% ###
944.955 3%
1259.94
314.985
944.955
34,963
34,963.34

3%
4%
1% ###
3%
 58950

Total Price (ETB)

3,499,999
45,000.00
53.30
2,398,500.00

0.11
263,835.00
2,662,335.00
TOTAL PRICE
(USD)

75,800
179,492.09
75,800.00

Unit Price Total Price

(ETB) (ETB)

2,788,000 2,788,000
2,788,000
 ABAINER TERRAZZO & CEMENT PRODUCT MANUFACTU

Summery of fixed investment costs valuation

DESCRIPTION EXISTING
USD ETB
Building and construction 6,147,769.55
Sub total - 6,147,769.55
Machineries & Equipment
Sub total - -
spart part
Sub total - -
Generetor
Sub total - -
Electric Installation 335,780.01
Sub total - 335,780.01
Nissan Urvan Mini-Bus ,16 Fixed Set
Sinotruk Howo 6*4
Toyota Hilux P/Up Double Cabin,Code 2c
Sub total - -
Office furniture & equipments
Sub total - -
Grand Total - 6,483,550
ENT PRODUCT MANUFACTURING PLC

d investment costs valuation

PLANNEED Total investment cost
USD ETB (BIRR)
3,334,117.18 9,481,886.73
- 3,334,117.18 9,481,886.73
144,528.75 7,882,742.55 7,882,742.55
144,528.75 7,882,742.55 7,882,742.55
7,130.08 388,881.97 388,881.97
7,130.08 388,881.97 388,881.97
27,833.25 1,518,053.29 1,518,053.29
27,833.25 1,518,053.29 1,518,053.29
1,180,000.00 1,515,780.01
- 1,180,000.00 1,515,780.01
3,499,999.00 3,499,999.00
75,800.00 4,134,207.80 4,134,207.80
2,788,000.00 2,788,000.00
75,800.00 10,422,206.80 10,422,206.80
1,221,220.47 1,221,220.47
- 1,221,220.47 1,221,220.47
255,292 25,947,222 32,430,772
 ABAINER TERRAZZO & CEMENT PRODUCT MANUFACTURING PLC

1 Basic Assumptions

A. Source of the Assumption

Mechanical report of Technical team undertaken on 03/08/2022
DBE Raw data on micronized filler manufacturing and marketing ,May 2021
Feasibility study of the promoter Undertaken on May 2022
B. Planned product
Calciem carbonate
C. Parameters of the Assumption
Annual Working Days 270 Days
No. of shifts per day 1 Shift
Working Hours Per shift 8 Hours
3 Ton/ hr
24 Ton/Day
Total Production Capacity of machineries
6,480 Ton/ yr
6,480,000 Kg/ yr
production capacity of the machine is taken from mechanical report dated on 03/08/2022

2 Out put of the project

A. Production and Revenue at full utilization capacity
Annual
Annual Gross
Product types UOM Thickness (mm) production Unit Price (ETB)
Revenue
Calciam Carbonate kg 0.0 6,480,000 6.70 43,416,000 (4,493)
Thickness of the product is taken from promoters fesibility study.
Selling price of the product is taken from raw data May 2021 (feasibility)

B. Production and Revenue at different utilization capacity

Annual production & Project year
Discription UOM Revenue at full utilization 1 2 3 4 and above
capacity 50% 60% 70% 80%
Calciam Carbonate kg 6,480,000 3,240,000 3,888,000 4,536,000 5,184,000
Gross revenue ETB 43,416,000 21,708,000 26,049,600 30,391,200 34,732,800

3 costs of the project

3.1 Direct cost 1m3 =1480 kg
3.1.1 Raw material
A. Raw material amount and cost at full Utilization Capacity 3.04
Annual requirement
Type of Raw material Input-output ratio cost/M3 Annual input cost
kg/yr m3/yr 3.04
Marble chips 103% 6,674,400 4,510 4500 20,293,783.78 310
Input required to produce 1kg of Caco3 is 1.03kg of marble scraps: 110.0000
1m3 calcite (dolomite) stones will give 1480 kg of powder is taken from raw data on micronized filler manufacturing and marketing may 2021 420
Marble chips M3 is Birr 4,500 with vat on average 4.2
C. Raw material amount & Cost at different utilization capacity
Project Year
Annual input requirment
Type of Raw material UOM 1 2 3 4 & above
& Cost
50% 60% 70% 80%
Marble chips kg 6,674,400 3,337,200 4,004,640 4,672,080 5,339,520
Raw material cost ETB 20,293,784 10,146,892 12,176,270 14,205,649 16,235,027

D.Packing material amount & Cost at full utilization capacity

Amount of Bag
Annual packing
Type of Packing material size UOM swinned by 1kg Holding capacity (kg) Annual requirement Unit price (ETB)
cost
of yarn
PP bag 50*68cm piece 25 259,200 8.5 2,203,200
Jute yarn kg 1,000 259 47 12,182.40
Total cost 2,215,382
Holding capacity is taken from raw data on micronized filler manufacturing and marketing may 2021
on average 1kg of jute yarn is1200 meter. Since the commodity didn't provid the utilization rate of yarn the team assumed that 1.2 mt of jute yarn would be needed to swing one bag

E.Packing material amount & Cost at different utilization capacity

Project Year
Annual input requirment &
Type of Raw material UOM 1 2 3 4 & above
Cost
50% 60% 70% 80%
PP bag piece 2,203,200 1,101,600 1,321,920 1,542,240 1,762,560
Jute yarn kg 12,182 6,091 7,309 8,528 9,746
Packing material cost ETB 2,215,382 1,107,691 1,329,229 1,550,768 1,772,306
3.1.2 Utilities
A. Electric Power consuption at full utilization Capacity
Electric Power requirement per hour (KW) 230.0 Kwh
Working Days per annum 203 dys/year
working hour/day 8 hr/day
Annual Power requirement (Kw) 372,600 Kwh
Cost of KW 1.193 birr/Kwh
Service charge 53.57 birr/annum
Total Electric Power Cost(Birr) 444,565.37 birr/year
The electric power requirement of the machine 230kw is taken from technical report and other costs are taken from previously
appraised simillar projects

B. Cost of fuel, oil and lubricants at full utilization Capacity

Gererator power 320 KVA
Working Days per annum (25% of total working days 68 Days/yr
Total hour per year 540 hr/yr
Required feul per hour 44 Lt /Hr
Required feul per year 23,760.00 Lt /yr 44
Unit Cost per liter 67 birr/Lt
Annul fuel cost 1,591,920 birr/year
Oil and lubricante is assumed at 2% of fuel cost 31,838.40 birr/year
Total cost of fuel,oil and lubricant 1,623,758 birr/year

C. water Consumption at full utilization Capacity

Working Days per annum 270 day/year
working hour per day 8 hr/day
The machinery to be installed requires 20 m3/day
Annual water requirement 5,400.00 m3/year
Cost per m3 1.75 birr/m3
Service charge 54 birr/year
Annual
solid cost management
waste of water service (40% of total 9,504 birr/year
water consumption) 3,802 birr/year
Total Ccst of water Consumption 13,306 birr/year

water consumption rate soild wate management service charge rate taken cross cutting data of
the Bank dec, 2020 and the required amount of water assumed by team.

C. Cost of Electric power, fuel ,Oil, lubricant and water at different utilization capacity
Project Year
Description UOM Annual utility cost @ full 1 2 3 4 & above
utilization capacity 50% 60% 70% 80%
Electric Power cost ETB 444,565 222,283 266,739 311,196 355,652
Fuel, oil & lubricants cost ETB 1,623,758 811,879 974,255 1,136,631 1,299,007
Water cost ETB 13,306 6,653 7,983 9,314 10,644

3.2 In-direct cost

A. Wage and Salary
S/N Job position Qty Monthly salary Annual salary(ETB)
A. Admninstration
1 General Manager 1 10,000 120,000
2 Plant Manager 1 8,500 102,000
3 Secretary 1 2,500 30,000
4 Accountant 1 4,500 54,000
5 Sales man 1 3,500 42,000
6 Store man 1 2,500 30,000
7 Clerk 1 2,500 30,000
8 Guard 2 2,000 48,000
9 Janitor 1 2,000 24,000
B. Production -
1 Production Supervisor 1 8,500 102,000
2 Operators 2 7,500 180,000
3 Laborer 10 1,500 180,000
4 Technician 1 5,000 60,000
Total 24 1,002,000
Note: Wages and Salaries are assumed to increase annualy by 5%
 ABAINER TERRAZZO & CEMENT PRODUCT MANUFACTURING PLC

1 Basic Assumptions

A. Source of the Assumption

Mechanical report of Technical team undertaken on 03/08/2022
DBE Raw data on micronized filler manufacturing and marketing ,May 2021
Feasibility study of the promoter Undertaken on May 2022
B. Planned product
Calciem carbonate

B. Fuel cost of the vehicle

Fuel, Oil and Lubricants Cost
Total Fuel
Description Quantity KM/Year Lt / Km Requirements (Liters) Unit Cost per liter Total Cost
Nissan URVAN Mini-bus ,16
Fixed set 1 20,000 0.10 2,000 67.00 134,000
SINOTRUK HOWO 6*4 2 20,000 0.13 5,000 67.00 335,000
TOYOTA HILUX P/UP
DOUBLE CABIN,CODE 2c 1 20,000 0.07 1,429 67.00 95,714
Total Cost of Fuel 564,714
Oil and Lubricants (2% of
fuel cost) 11,294
Total Cost of Fuel, Oil and
Lubricants 576,009

C. Repair and maintainance

Repair &
Description Original Cost Repair & Maintainace rate
Maintainace Cost
Machineries & Equipment and
9,400,796 5% 470,039.79
Generetor

D. Insurance
Cost of
Description Types of insurance Insurance rate Insurance Cost
Machinery
Fire and Lightening
0.06% 19,458.46
All fixed asset Insurance 32,430,772
Earth quake 0.02% 4,864.62
Total Cost 24,323.08
E. Overhead costs
Telephone, post & internet: on average 0.12% of
26,050 31,259.52 36,469.44 41,679.36
annual sales
Travel and Perdiem ..1.27 % of Annual salary 12,725
Office supplie 0.01% of annual sales 2,171
Medical expense (5% of wage and salarie) 28,235.71
Stationary expense (0.2% of sales) 43,416
 ABAINER TERRAZZO & CEMENT PRODUCT MANUFACTURING PLC
Operating Cost Projection

Project Years
Description
1 2 3 4 5 6 7 8 9 10
A. Direct Costs
Raw material cost 10,146,891.9 12,176,270.3 14,205,648.6 16,235,027.0 16,235,027.0 16,235,027.0 16,235,027.0 16,235,027.0 16,235,027.0 16,235,027.0
PP bag 1,101,600.0 1,321,920.0 1,542,240.0 1,762,560.0 1,762,560.0 1,762,560.0 1,762,560.0 1,762,560.0 1,762,560.0 1,762,560.0
Jute yarn 6,091.2 7,309.4 8,527.7 9,745.9 9,745.9 9,745.9 9,745.9 9,745.9 9,745.9 9,745.9
Electric Power cost 222,282.7 266,739.2 311,195.8 355,652.3 355,652.3 355,652.3 355,652.3 355,652.3 355,652.3 355,652.3
Fuel, oil & lubricants cost 811,879.2 974,255.0 1,136,630.9 1,299,006.7 1,299,006.7 1,299,006.7 1,299,006.7 1,299,006.7 1,299,006.7 1,299,006.7
Water cost 6,652.8 7,983.4 9,313.9 10,644.5 10,644.5 10,644.5 10,644.5 10,644.5 10,644.5 10,644.5
Sub-total 12,295,397.8 14,754,477.3 17,213,556.9 19,672,636.4 19,672,636.4 19,672,636.4 19,672,636.4 19,672,636.4 19,672,636.4 19,672,636.4
Indirect Costs
Wage and Salary 1,002,000.0 1,052,100.0 1,104,705.0 1,159,940.3 1,217,937.3 1,278,834.1 1,342,775.8 1,409,914.6 1,480,410.4 1,554,430.9
Fuel cost 576,008.6 576,008.6 576,008.6 576,008.6 576,008.6 576,008.6 576,008.6 576,008.6 576,008.6 576,008.6
Repair and mantanance 470,039.8 470,039.8 470,039.8 470,039.8 470,039.8 470,039.8 470,039.8 470,039.8 470,039.8 470,039.8
Insurance 24,323.1 24,323.1 24,323.1 24,323.1 24,323.1 24,323.1 24,323.1 24,323.1 24,323.1 24,323.1
Telephone, post & internet: on
26,049.6 31,259.5 36,469.4 41,679.4 41,679.4 41,679.4 41,679.4 41,679.4 41,679.4 41,679.4
average 0.12% of annual sales
Travel and Perdiem ..1.27 % of
12,725.4 12,725.4 12,725.4 12,725.4 12,725.4 12,725.4 12,725.4 12,725.4 12,725.4 12,725.4
Annual salary
Office supplie 0.01% of annual
2,170.8 2,170.8 2,170.8 2,170.8 2,170.8 2,170.8 2,170.8 2,170.8 2,170.8 2,170.8
sales
Medical expense (5% of wage and
28,235.7 28,235.7 28,235.7 28,235.7 28,235.7 28,235.7 28,235.7 28,235.7 28,235.7 28,235.7
salarie)
Stationary expense (0.2% of sales) 43,416.0 26,302.5 27,617.6 28,998.5 30,448.4 31,970.9 33,569.4 35,247.9 37,010.3 38,860.8
Sub-total 2,184,969.0 2,223,165.4 2,282,295.4 2,344,121.5 2,403,568.4 2,465,987.7 2,531,527.9 2,600,345.2 2,672,603.3 2,748,474.4
Total 14,480,366.7 16,977,642.7 19,495,852.3 22,016,757.9 22,076,204.9 22,138,624.1 22,204,164.4 22,272,981.6 22,345,239.8 22,421,110.8
 ABAINER TERRAZZO & CEMENT PRODUCT MANUFACTURING PLC
Working Capital Determination

Valid Months for working Project Years

Description period in year
capitalheld cofficent 0 1 2 3 4 5 6 7
Direct Costs
Raw material cost 12 2 0.166666666666667 1,691,149 1,691,149 2,029,378 2,367,608 2,705,838 2,705,838 2,705,838 2,705,838
PP bag 12 2 0.166666666666667 15,300 15,300 18,360 21,420 24,480 24,480 24,480 24,480
Jute yarn 12 1 0.083333333333333 42 42 51 59 68 68 68 68
Electric Power cost 12 1 0.083333333333333 18,524 18,524
Fuel, oil & lubricants cost 12 4 0.333333333333333 22,552 22,552 27,063 31,573 36,084 36,084 36,084 36,084
Water cost 12 4 0.333333333333333 185 185 222 259 296 296 296 296
Sub-total 1,747,752 1,747,752 2,075,074 2,420,919 2,766,765 2,766,765 2,766,765 2,766,765
Indirect Costs 12
Wage and Salary 12 1 0.083333333333333 6,958 6,958 7,306 7,672 8,055 8,458 8,881 9,325
Repair and mantanance 12 1 0.083333333333333 3,264 3,264 3,264 3,264 3,264 3,264 3,264 3,264
Insurance 12 12 1 2,027 2,027 2,027 2,027 2,027 2,027 2,027 2,027
Telephone, post & internet: on average
12 6 0.5 1,085 1,085 1,302 1,520 1,737 1,737 1,737 1,737
0.12% of annual sales
Travel and Perdiem ..1.27 % of Annual
12 6 0.5 530 530 530 530 530 530 530 530
salary
Office supplie 0.01% of annual sales 12 12 1 181 181 181 181 181 181 181 181
Medical expense (5% of wage and
12 1 0.083333333333333 196 196 196 196 196 196 196 196
salarie)
Stationary expense (0.2% of sales) 12 1 0.083333333333333 302 302 183 192 201 211 222 233
Sub-total 14,544 14,544 14,990 15,581 16,191 16,604 17,038 17,493
Total working capital 1,762,295 1,762,295 2,090,063 2,436,500 2,782,956 2,783,369 2,783,802 2,784,258
Working capital Increament 12 - - 327,768 346,437 346,456 413 433 455
Existing working capital 12
Shortfall
EMENT PRODUCT MANUFACTURING PLC
ng Capital Determination

Project Years
8 9 10

2,705,838 2,705,838 2,705,838

24,480 24,480 24,480
68 68 68

36,084 36,084 36,084

296 296 296
2,766,765 2,766,765 2,766,765

9,791 10,281 10,795

3,264 3,264 3,264
2,027 2,027 2,027

1,737 1,737 1,737

530 530 530

181 181 181

196 196 196

245 257 270
17,971 18,473 18,999

2,784,736 2,785,237 2,785,764

478 502 527
1. electric poewer 230
 ABAINER TERRAZZO & CEMENT PRODUCT MANUFACTURING PLC
Investment cost
Sr.
Description Existing Planned Total Percentage
No.
1 Building and construction 6,147,770 3,334,117.18 9,481,887
2 Machineries & Equipment - 7,882,742.55 7,882,743
3 spart part 388,881.97 388,882
4 Generetor 1,518,053.29 1,518,053
91%
5 Electric Installation 335,780.01 1,180,000 1,515,780
6 Vehicles - 10,422,207 10,422,207
7 Office furniture & equipments - 1,221,220 1,221,220
Sub total 6,483,550 25,947,222 32,430,772
8 Pre-production Cost 500,555 500,555
9 Pre-production Interest 1,062,018 1,062,018 4%
Sub-total 500,555.35 1,062,017.69 1,562,573.04
10 Working Capital 1,762,295 1,762,295
5%
Sub-total 1,762,295 1,762,295
Total 6,984,105 28,771,535 35,755,640 100%

Break down of Investment cost

Sr.
Description Owner's Equity DBE Loan Total Value
No.
in kind in cash TOTAL
1 Building and construction 6,147,770 6,147,770 3,334,117 9,481,887
2 Machineries & Equipment - 7,882,743 7,882,743
3 spart part - 388,882 388,882
4 Generetor 1,518,053 1,518,053
5 Electric Installation 335,780 1,180,000 1,515,780 1,515,780
6 Vehicle - 10,422,207 10,422,207
7 Office furniture & equipments - 1,221,220 1,221,220
Sub total 6,483,550 1,180,000 7,663,550 24,767,222 32,430,772
8 Pre-production Cost 500,555 500,555 500,555
9 Pre-production Interest 1,062,018 1,062,018 1,062,018
Sub total 500,555 1,062,018 1,562,573 - 1,562,573
10 Working Capital 1,762,295 1,762,295
Sub total - 1,762,295 1,762,295
Total 6,984,105 2,242,018 9,226,123 26,529,517 35,755,640
Debt-equity ratio 25.8% 74.2% 100.0%
Project Implementation Plan
2023
Sr.no
Type of Activities April May June July August September
1 Loan Processing
Building and
construction
Procurement and
installation of
3
Machineries &
Equipment
Procurement of
4 Generator and
installation
Procurement raw
5
materials

6 Procurement of Vechicle

8 Procurement of Furniture

Recruitment of
9
Employee
Commencement of
10
Production
 2024
OctoberNovember December January February March
1. Equity Release Schedule
Purpose of Release Amount to be
Released
Equity Release Plan
(Birr)

Building and construction 6,147,770

Electric Installation 335,780
Existing investment
Pre-production Cost 500,555
Sub Total 6,984,105
Electric Installation
1,180,000.00

Pre-production Interest 1,062,018

Sub Total 2,242,018
Total 9,226,123
Equity to be Blocked in Cash 2,242,018

2. Loan Disbursement Schedule

Purpose of Disbursement Amount to be

Disbursed
Loan Disbursement Plan
(Birr)

Building and construction

1st
3,334,117.18
loan Disbursement

Sub-total 3,334,117.18
Procurement of machinery and
2nd Loan Disbursement equepment and spar part 8,271,624.52

Sub-total 8,271,625
Generetor

1,518,053
3rd Loan Disbursement

Sub-total 1,518,053
Procurement of Vechicle 10,422,207
4th Loan Disbursement Procurement of Furniture 1,221,220
Procurement raw materials 1,762,295
Sub-total 13,405,722
Total 26,529,517
-
-
 Balance in To be Months
Commitment Released
(Birr)
9,226,123

2,242,018 Existing -

To EEU When the loan is

registered and all a
condition fufiled
To DBE when due

Balance in Condition for Expected

Commitment To be Disbursement Disburseme
(Birr) Disbursed nt Month
26,529,517

After verification of
23,195,400 To contracter fully utilization of 1-Jun-23
equity

After verification of
14,923,776 To the supplier fully utilized of the 1-Jul-23
first disbursement

After verification of
13,405,722 To the supplier fully utilized of the 1-Aug-23
second disbursement

2,983,516 After verification of 1-Nov-23

1,762,295 To the supplier fully utilized of the 1-Dec-23
(0) third disbursement 1-Nov-23
Repayment Mode ………………..………… Quarterly
Commitment Charge ……...………..……… 0.5%
Interest Rate ……………...……………… 11.5%
Total pre operating interest and commitment charge amount
Disbursment commitment
Date Interest payment
amount charge

Jun-23 3,334,117.18 31,514.26 10,903

Jul-23 8,271,624.52 113,354.71 9,850
Aug-23 1,518,053 128,181.72 6,133
Sep-23 - 124,046.83 5,509
Oct-23 - 128,181.72 5,509
Nov-23 12,184,502 239,215.41 502
Dec-23 1,221,220 259,117.07 -
26,529,517.29 1,023,611.72 38,405.97
Pre-Operating interest and commitment charge 1,062,018
NB: Loan contract agreement is assumed to be signed on May 30, 2023 and the preoprating interest should be re
Loan Repayment Schedule
Total
Principal
Repayment Year Interest payment Outstanding
Repayment
Balance
2024/25 26,529,517
Grace Period Interest
762,724
(Jun,2024)
31-Jul 947,483 735,483 25,582,035
31-Oct 947,483 708,243 24,634,552
31-Jan 947,483 681,003 23,687,069
30-Apr 947,483 653,763 22,739,586
Sub-Total 3,789,931 2,778,493
2025/26
31-Jul 947,483 626,523 21,792,103
31-Oct 947,483 599,283 20,844,621
31-Jan 947,483 572,043 19,897,138
30-Apr 947,483 544,803 18,949,655
Sub-Total 3,789,931 2,342,651
2026/27
31-Jul 947,483 517,562 18,002,172
31-Oct 947,483 490,322 17,054,690
31-Jan 947,483 463,082 16,107,207
30-Apr 947,483 435,842 15,159,724
Sub-Total 3,789,931 1,906,809
2027/28
31-Jul 947,483 408,602 14,212,241
31-Oct 947,483 381,362 13,264,759
31-Jan 947,483 354,122 12,317,276
30-Apr 947,483 326,882 11,369,793
Sub-Total 3,789,931 1,470,967
2028/29
31-Jul 947,483 299,641 10,422,310
31-Oct 947,483 272,401 9,474,828
31-Jan 947,483 245,161 8,527,345
30-Apr 947,483 217,921 7,579,862
Sub-Total 3,789,931 1,035,125
2029/30
31-Jul 947,483 190,681 6,632,379
31-Oct 947,483 163,441 5,684,897
31-Jan 947,483 136,201 4,737,414
30-Apr 947,483 108,961 3,789,931
Sub-Total 3,789,931 599,283
2030/31
31-Jul 947,483 81,720 2,842,448
31-Oct 947,483 54,480 1,894,966
31-Jan 947,483 27,240 947,483
30-Apr 947,483 - -
Sub-Total 3,789,931 163,441
Grand Total 26,529,517 10,296,769

- `
-
 Commitment Outstanding
balance Balance
26,529,517
23,195,400 3,334,117
14,923,776 11,605,742
13,405,722 13,123,795
13,405,722 13,123,795
13,405,722 13,123,795
1,221,220 25,308,297
26,529,517

preoprating interest should be repayed every month

3-Dec
 ABAINER TERRAZZO & CEMENT PRODUCT MANUFACTURING PLC
Profit/Loss Projection
Project Years
Description
1 2 3 4 5 6 7 8 9 10
Revenue 21,708,000 26,049,600 30,391,200 34,732,800 34,732,800 34,732,800 34,732,800 34,732,800 34,732,800 34,732,800
Less: Operating Costs 14,480,367 16,977,643 19,495,852 22,016,758 22,076,205 22,138,624 22,204,164 22,272,982 22,345,240 22,421,111
Gross profit 7,227,633 9,071,957 10,895,348 12,716,042 12,656,595 12,594,176 12,528,636 12,459,818 12,387,560 12,311,689
Less: Depreciation 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133
Profit Before Interest &
3,934,501 5,778,825 7,602,215 9,422,909 9,363,462 9,301,043 9,235,503 9,166,686 9,094,428 9,018,556
Tax
Less: Interest 2,778,493 2,342,651 1,906,809 1,470,967 1,035,125 599,283 163,441
Profit Before Tax 1,156,007 3,436,173 5,695,406 7,951,942 8,328,338 8,701,760 9,072,062 9,166,686 9,094,428 9,018,556
Less: Profit Tax (30%) 346,802 1,030,852 1,708,622 2,385,583 2,498,501 2,610,528 2,721,619 2,750,006 2,728,328 2,705,567
Net Profit 809,205 2,405,321 3,986,784 5,566,360 5,829,836 6,091,232 6,350,443 6,416,680 6,366,099 6,312,990
 ABAINER TERRAZZO & CEMENT PRODUCT MANUFACTURING PLC
Depreciation Schedule
1. Depreciation

Percentage Project Years

Sr. Original Depreciation
Description of Original
No. Value* (Birr) Annually
Value 1 2 3 4 5 6 7 8 9 10
A. Depreciation
1 Building and construction 9,481,887 10% 948,189 8,533,698 7,585,509 6,637,321 5,689,132 4,740,943 3,792,755 2,844,566 1,896,377 948,189 -
2 Machineries & Equipment 7,882,743 10% 788,274 7,094,468 6,306,194 5,517,920 4,729,646 3,941,371 3,153,097 2,364,823 1,576,549 788,274 -
3 spart part 388,882 10% 38,888 349,994 311,106 272,217 233,329 194,441 155,553 116,665 77,776 38,888 -
4 Generetor 1,518,053 10% 151,805 1,366,248 1,214,443 1,062,637 910,832 759,027 607,221 455,416 303,611 151,805 -
5 Electric Installation 1,515,780 10% 151,578 1,364,202 1,212,624 1,061,046 909,468 757,890 606,312 454,734 303,156 151,578 -
6 Vehicle 10,422,207 10% 1,042,221 9,379,986 8,337,765 7,295,545 6,253,324 5,211,103 4,168,883 3,126,662 2,084,441 1,042,221 0.00
7 Office furniture & equipments 1,221,220 10% 122,122 1,099,098 976,976 854,854 732,732 610,610 488,488 366,366 244,244 122,122 -
Sub-total 32,430,772 3,243,077 29,187,695 25,944,617 22,701,540 19,458,463 16,215,386 12,972,309 9,729,232 6,486,154 3,243,077 0
B. Amortaization
8 Pre-production Cost 500,555 10% 50,056 450,500 400,444 350,389 300,333 250,278 200,222 150,167 100,111 50,056 -
9 Pre-production Interest 1,062,018 - 1,062,018 1,062,018 1,062,018 1,062,018 1,062,018 1,062,018 1,062,018 1,062,018 1,062,018 1,062,018
Sub Total 1,562,573 50,056 1,512,518 1,462,462 1,412,406 1,362,351 1,312,295 1,262,240 1,212,184 1,162,129 1,112,073 1,062,018
Total 33,993,345 3,293,133 30,700,212 27,407,079 24,113,947 20,820,814 17,527,681 14,234,549 10,941,416 7,648,283 4,355,150 1,062,018
Depreciation Cost Per Annum 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133
 ABAINER TERRAZZO & CEMENT PRODUCT MANUFACTURING PLC
Cash Flow Projection
Project Years
Description
0 1 2 3 4 5 6 7 8 9 10
Cash Inflows
Owner's Equity 9,226,123
Loan 26,529,517
Net Profit 809,205 2,405,321 3,986,784 5,566,360 5,829,836 6,091,232 6,350,443 6,416,680 6,366,099 6,312,990
Depreciation 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133 3,293,133
Total Cash Inflows 35,755,640 4,102,338 5,698,454 7,279,917 8,859,492 9,122,969 9,384,365 9,643,576 9,709,813 9,659,232 9,606,122
Cash out Flows
Total Fixed Assets 32,430,772
Pre-operating Interest & Cost 1,562,573
Working Capital 1,762,295
Increase in Working Capital - 327,768 346,437 346,456 413 433 455 478 502 527
Loan Repayment 3,789,931 3,789,931 3,789,931 3,789,931 3,789,931 3,789,931 3,789,931
Withdrawal (25%) 202,301 601,330 996,696 1,391,590 1,457,459 1,522,808 1,587,611 1,604,170 1,591,525 1,578,247
Total Cash Outflows 35,755,640 3,992,232 4,719,030 5,133,064 5,527,977 5,247,803 5,313,173 5,377,997 1,604,648 1,592,027 1,578,774
Net Cash Flow - 110,106 979,425 2,146,853 3,331,516 3,875,166 4,071,192 4,265,579 8,105,165 8,067,205 8,027,348
Cumulative Cash Balance 110,106 1,089,530 3,236,383 6,567,898 10,443,064 14,514,257 18,779,836 26,885,001 34,952,206 42,979,554
Retained Earning 606,904 1,803,991 2,990,088 4,174,770 4,372,377 4,568,424 4,762,833 4,812,510 4,774,574 4,734,742
Cumulative Retained Earning 606,904 2,410,895 5,400,983 9,575,753 13,948,130 18,516,554 23,279,387 28,091,897 32,866,471 37,601,213
 ABAINER TERRAZZO & CEMENT PRODUCT MANUFACTURING PLC
Balance Sheet Projection
Description
0 1 2 3 4 5 6 7 8 9 10
A. ASSETS
Current Assets
Cash 0 110,106 1,089,530 3,236,383 6,567,898 10,443,064 14,514,257 18,779,836 26,885,001 34,952,206 42,979,554
Inventory 1,762,295 1,762,295 2,090,063 2,436,500 2,782,956 2,783,369 2,783,802 2,784,258 2,784,736 2,785,237 2,785,764
Total C. Assets 1,762,295 1,872,401 3,179,593 5,672,883 9,350,855 13,226,433 17,298,059 21,564,094 29,669,736 37,737,443 45,765,318
Fixed Assets
Building and construction 9,481,887 8,533,698 7,585,509 6,637,321 5,689,132 4,740,943 3,792,755 2,844,566 1,896,377 948,189 -
Machineries & Equipment 7,882,743 7,094,468 6,306,194 5,517,920 4,729,646 3,941,371 3,153,097 2,364,823 1,576,549 788,274 -
spart part 388,882 349,994 311,106 272,217 233,329 194,441 155,553 116,665 77,776 38,888 -
Generetor 1,518,053 1,366,248 1,214,443 1,062,637 910,832 759,027 607,221 455,416 303,611 151,805 -
Electric Installation 1,515,780 1,364,202 1,212,624 1,061,046 909,468 757,890 606,312 454,734 303,156 151,578 -
Vehicle 10,422,207 9,379,986 8,337,765 7,295,545 6,253,324 5,211,103 4,168,883 3,126,662 2,084,441 1,042,221 0
Office furniture & equipments 1,221,220 1,099,098 976,976 854,854 732,732 610,610 488,488 366,366 244,244 122,122 (0)

Total Fixed Assets 32,430,772 29,187,695 25,944,617 22,701,540 19,458,463 16,215,386 12,972,309 9,729,232 6,486,154 3,243,077 0
Intangible Asset
Pre-production Cost 500,555 450,500 400,444 350,389 300,333 250,278 200,222 150,167 100,111 50,056 (0)
Pre-Production Interest 1,062,018 1,062,018 1,062,018 1,062,018 1,062,018 1,062,018 1,062,018 1,062,018 1,062,018 1,062,018 1,062,018
Total Intangible Assets 1,562,573 1,512,518 1,462,462 1,412,406 1,362,351 1,312,295 1,262,240 1,212,184 1,162,129 1,112,073 1,062,018
TOTAL ASSETS 35,755,640 32,572,613 30,586,673 29,786,830 30,171,669 30,754,115 31,532,608 32,505,509 37,318,019 42,092,594 46,827,336
B. LIABILITY
DBE Loan 26,529,517 22,739,586 18,949,655 15,159,724 11,369,793 7,579,862 3,789,931 - - - -
Total Liability 26,529,517 22,739,586 18,949,655 15,159,724 11,369,793 7,579,862 3,789,931 - - - -
C. CAPITAL
Equity contribution 9,226,123 9,226,123 9,226,123 9,226,123 9,226,123 9,226,123 9,226,123 9,226,123 9,226,123 9,226,123 9,226,123
Retained earning 606,904 2,410,895 5,400,983 9,575,753 13,948,130 18,516,554 23,279,387 28,091,897 32,866,471 37,601,213
Total Capital 9,226,123 9,833,026 11,637,018 14,627,106 18,801,875 23,174,253 27,742,677 32,505,509 37,318,019 42,092,594 46,827,336
TOTAL LIABILITY & CAPITAL 35,755,640 32,572,613 30,586,673 29,786,830 30,171,669 30,754,115 31,532,608 32,505,509 37,318,019 42,092,594 46,827,336
 ABAINER TERRAZZO & CEMENT PRODUCT MANUFACTURING PLC
Calcualtion of Financial Internal Rate of Return

Total Cost
Working Capital Fixed Asset Operating Net Benefit Before Net Benefit After
Year Revenue Total Benefits Initial Inv't. Replacement Total Costs Profit Tax Including
Recovery Recovery Costs Tax Tax
Profit Tax
0 - - 35,755,640 - - 35,755,640 - 35,755,640 (35,755,640) (35,755,640)
1 21,708,000 21,708,000 - 14,480,367 14,480,367 346,802 14,827,169 7,227,633 6,880,831
2 26,049,600 26,049,600 - 16,977,643 16,977,643 1,030,852 18,008,495 9,071,957 8,041,105
3 30,391,200 30,391,200 - 19,495,852 19,495,852 1,708,622 21,204,474 10,895,348 9,186,726
4 34,732,800 34,732,800 - 22,016,758 22,016,758 2,385,583 24,402,341 12,716,042 10,330,459
5 34,732,800 34,732,800 - 22,076,205 22,076,205 2,498,501 24,574,706 12,656,595 10,158,094
6 34,732,800 34,732,800 - 22,138,624 22,138,624 2,610,528 24,749,152 12,594,176 9,983,648
7 34,732,800 34,732,800 - 22,204,164 22,204,164 2,721,619 24,925,783 12,528,636 9,807,017
8 34,732,800 34,732,800 - 22,272,982 22,272,982 2,750,006 25,022,987 12,459,818 9,709,813
9 34,732,800 34,732,800 - 22,345,240 22,345,240 2,728,328 25,073,568 12,387,560 9,659,232
10 34,732,800 2,785,764 0 37,518,564 - 22,421,111 22,421,111 2,705,567 25,126,678 15,097,453 12,391,886
27% 22%
IRR Before Tax 26.7% NPV Before Tax 25,835,433 25,835,433 15,897,014
IRR After Tax 21.6% NPV After Tax 15,897,014

ABAINER TERRAZZO & CEMENT PRODUCT MANUFACTURING PLC

Sensitivity Test
If Revenue Decreases by 10%

Total Cost
Working Capital Fixed Asset Operating Net Benefit Before Net Benefit After
Year Revenue Total Benefits Initial Inv't. Replacement Total Costs Profit Tax Including
Recovery Recovery Costs Tax Tax
Profit Tax
0 - - - - 35,755,640 - - 35,755,640 - 35,755,640 (35,755,640) (35,755,640)
1 19,537,200 - - 19,537,200 - - 14,480,367 14,480,367 (355,177) 14,125,189 5,056,833 5,412,011
2 23,444,640 - - 23,444,640 - - 16,977,643 16,977,643 290,925 17,268,567 6,466,997 6,176,073
3 27,352,080 - - 27,352,080 - - 19,495,852 19,495,852 929,700 20,425,552 7,856,228 6,926,528
4 31,259,520 - - 31,259,520 - - 22,016,758 22,016,758 1,567,532 23,584,290 9,242,762 7,675,230
5 31,259,520 - - 31,259,520 - - 22,076,205 22,076,205 1,699,270 23,775,475 9,183,315 7,484,045
6 31,259,520 - - 31,259,520 - - 22,138,624 22,138,624 1,829,968 23,968,592 9,120,896 7,290,928
7 31,259,520 - - 31,259,520 - - 22,204,164 22,204,164 1,959,574 24,163,738 9,055,356 7,095,782
8 31,259,520 - - 31,259,520 - - 22,272,982 22,272,982 1,992,692 24,265,674 8,986,538 6,993,846
9 31,259,520 - - 31,259,520 - - 22,345,240 22,345,240 1,967,402 24,312,641 8,914,280 6,946,879
10 31,259,520 2,785,764 0 34,045,284 - - 22,421,111 22,421,111 1,940,847 24,361,958 11,624,173 9,683,327
17.7% 14.1%
IRR Before Tax 17.7% NPV Before Tax 16,709,718 16,709,718 9,357,119
IRR After Tax 14.1% NPV After Tax 9,357,119
 ABAINER TERRAZZO & CEMENT PRODUCT MANUFACTURING PLC
Sensitivity Test
If Operating Costs Increases by 10%

Total Cost
Working Capital Fixed Asset Operating Net Benefit Before Net Benefit After
Year Revenue Total Benefits Initial Inv't. Replacement Total Costs Profit Tax Including
Recovery Recovery Costs Tax Tax
Profit Tax
0 - - - - 35,755,640 - - 35,755,640 - 35,755,640 (35,755,640) (35,755,640)
1 21,708,000 - - 21,708,000 - - 15,928,403 15,928,403 (102,210) 15,826,193 5,779,597 5,881,807
2 26,049,600 - - 26,049,600 - - 18,675,407 18,675,407 608,443 19,283,850 7,374,193 6,765,750
3 30,391,200 - - 30,391,200 - - 21,445,438 21,445,438 1,311,037 22,756,475 8,945,762 7,634,725
4 34,732,800 - - 34,732,800 - - 24,218,434 24,218,434 2,012,593 26,231,027 10,514,366 8,501,773
5 34,732,800 - - 34,732,800 - - 24,283,825 24,283,825 2,142,251 26,426,076 10,448,975 8,306,724
6 34,732,800 - - 34,732,800 - - 24,352,487 24,352,487 2,270,764 26,623,251 10,380,313 8,109,549
7 34,732,800 - - 34,732,800 - - 24,424,581 24,424,581 2,398,076 26,822,657 10,308,219 7,910,143
8 34,732,800 - - 34,732,800 - - 24,500,280 24,500,280 2,428,786 26,929,065 10,232,520 7,803,735
9 34,732,800 - - 34,732,800 - - 24,579,764 24,579,764 2,400,966 26,980,730 10,153,036 7,752,070
10 34,732,800 2,785,764 0 37,518,564 - - 24,663,222 24,663,222 2,371,756 27,034,978 12,855,342 10,483,586
21.0% 16.6%
IRR Before Tax 21.0% NPV Before Tax 23,453,039 23,453,039 13,740,277
IRR After Tax 16.6% NPV After Tax 13,740,277

ABAINER TERRAZZO & CEMENT PRODUCT MANUFACTURING PLC

Sensitivity Test
If Investment Costs Increases by 10%

Total Cost
Working Capital Fixed Asset Operating Net Benefit Before Net Benefit After
Year Revenue Total Benefits Initial Inv't. Replacement Total Costs Profit Tax Including
Recovery Recovery Costs Tax Tax
Profit Tax
0 - - - - 39,331,204 - - 39,331,204 - 39,331,204 (39,331,204) (39,331,204)
1 21,708,000 - - 21,708,000 - - 14,480,367 14,480,367 289,343 14,769,710 7,227,633 6,938,290
2 26,049,600 - - 26,049,600 - - 16,977,643 16,977,643 1,087,401 18,065,044 9,071,957 7,984,556
3 30,391,200 - - 30,391,200 - - 19,495,852 19,495,852 1,878,132 21,373,985 10,895,348 9,017,215
4 34,732,800 - - 34,732,800 - - 22,016,758 22,016,758 2,667,920 24,684,678 12,716,042 10,048,122
5 34,732,800 - - 34,732,800 - - 22,076,205 22,076,205 2,799,658 24,875,863 12,656,595 9,856,937
6 34,732,800 - - 34,732,800 - - 22,138,624 22,138,624 2,930,356 25,068,981 12,594,176 9,663,819
7 34,732,800 - - 34,732,800 - - 22,204,164 22,204,164 3,059,962 25,264,126 12,528,636 9,468,674
8 34,732,800 - - 34,732,800 - - 22,272,982 22,272,982 3,093,080 25,366,062 12,459,818 9,366,738
9 34,732,800 - - 34,732,800 - - 22,345,240 22,345,240 3,067,790 25,413,030 12,387,560 9,319,770
10 34,732,800 2,785,764 0 37,518,564 - - 22,421,111 22,421,111 3,041,235 25,462,346 15,097,453 12,056,218
23.9% 18.5%
IRR Before Tax 23.9% NPV Before Tax 32,318,830 32,318,830 19,046,646
IRR After Tax 18.5% NPV After Tax 19,046,646
 ABAINER TERRAZZO & CEMENT PRODUCT MANUFACTURING PLC
I. Project Investment

Description Amount Percentage

Fixed Investment Costs 32,430,772 91%
Pre-production Expenditure 1,562,573 4%
Working Capital 1,762,295 5%
Total 35,755,640 100%

II. Source of fund

Description Amount D/E Ratio

Debt-DBE Loan 26,529,517 74%
Equity 9,226,123 26%
Total Investment Cost 35,755,640 100%

III. Expected Financial results

Description Year-1 Year-10

Sales Revenue 21,708,000 34,732,800
Profit (Loss) 809,205 5,648,008
Cumulative Cash Balance 110,106 42,979,554

IV. Net present value

NPV Before Tax = 25,835,433
NPV After Tax= 15,897,014

V. Internal Rate of Return

FIRR before Tax = 27%
FIRR after Tax = 22%

VI. Sensitivity Analysis

Alternative Scenarios IRR Before Tax IRR After Tax

Revenue decreased by 10% 18% 14%

Operating costs increased by 10% 21% 17%

Investment costs increased by 10% 24% 18%

Sr. NDescriptions Requested Amount (Birr)
Equity Loan
1 Land Lease 500000 0
2 Building & Construction 47552691.3 327674
3 Electrical Installation Work 2510037.4 0
4 Machineries & Equipments 60663610 287756786
5 Auxilaries Equipment 0 9918944.2
6 Vehicles 0 71674925
7 Borehole 5428500 0
8 Office Furniture 3080198.5 0
9 Work Shop Equipment 0 1774000
10 Working Capital 0 68955387.4
11 Project Management 1750000 0
12 Pre-production Costs 2455937 0
13 Pre-production Interest 22509260 0
Total 146450234 440407717
mount (Birr) Proposed Amount (Birr) Variation (Birr)
Total Equity Loan Total Equity Loan Total
500000 54450 0 54450 -445550 0 -445550
47880365.3 47917247 0 47917247 364555.97 -327674 36881.973
2510037.4 7882857.2 0 7882857.2 5372819.8 0 5372819.8
348420396 42017194 332856202 374873397 -18646416 45099416 26453001
9918944.2 0 41304486 41304486 0 31385542 31385542
71674925 0 49835000 49835000 0 -21839925 -21839925
5428500 5186022.75 0 5186022.75 -242477.25 0 -242477.25
3080198.5 0 1730812 1730812 -3080198.5 1730812 -1349386.5
1774000 0 1774000 1774000 0 -0.018 -0.018
68955387.4 0 23292933 23292933 0 -45662454 -45662454
1750000 0 0 0 -1750000 0 -1750000
2455937 2455937 0 2455937 0 0 0
22509260 44750769 0 44750769 22241509 0 22241509
586857951 150264477 450793433 601057911 3814243.1 10385717 14199960
2,104.00 5,000.00 10,520,000.00 0% 51.0%
2,014.00 10,070,000.00 0% 48.8%
11.00 55,000.00 0% 0.3%
4,129.00 20,645,000.00
Year (E.C) Soap (tons) Paper (ton) Paint ( 1000 litter)
2005 84,900 117,544 19,558
20006 90,959 118,793 33,127
2007 117,453 11,200 52,049
2008 5,250,812 21,555 22,995
2009 852,333 42,692 47,776

Year (G.C) Imported quantity in ton

2016 14,926
2017 15,290
2018 12,873
2019 10,221
2020 10,551
Plastic footwear ( pair) Foam cub
20,879,303 352,262
18,545,442 294,954
28,711,002 823,884
38,390,723 2,108,423
88,142,811 3,233,295