INVESTOR SEQUENCE IN BUSINESS OPPORTUNITIES FOR THE DEVELOPMENT OF A SUGAR FACTORY AS A BIOREFINERY

Abstract

Introduction:
The paper presents the results of the evaluation of the investment risk of the business proposals considered in the productive chain of a sugar company in its development in the biorefinery concept.
Objective:
To determine the least risky order of execution to carry out the necessary economic investments foreseen in the development of a sugar factory as a biorefinery, so as to gradually grow its business volumes.
Materials and methods:
The researchers employ methods of economic risk analysis, considering the mathematical expectation and the coefficient of variation of each of the investments required by the business opportunities, for different possible scenarios.
Results and discussion:
The investment order that is economically less risky, implies realizing first the business opportunity recognized with code 2, secondly the one registered with code 1, then the one referred to code 4 and finally the one identified with code 3.
Conclusions:
It is feasible to decide the order of lowest investment risk in a productive chain in a sugar company that is transformed into a biorefinery, using dynamic indicators and economic risk analysis.