Financial Assessment Model for Energy Streams: Evidence From the Middle East

Introduction

The ISMSI holds a prominent role in the economic cycle of any nation. In Iran, the dependence of the economic cycle of the country to ISMSI is 98% in comparison with large industries that its proportion is around 2% in this regard (Singh et al., 2016). The project identification step is the first step of any industrial project before it goes to the next levels of assessment like screening. According to enacted rules of EIA, the whole inventory of availability of industrial projects must be listed as materials & energy streams, land area required for industrial projects individually, plus an inventory of facilities and equipment implemented (Lohani et al., 1997). In this case, the Iranian evaluator team of the in-charge organizations took the assessment and tabulated the initial data for Iranian industrial projects. This research only used the collected data of the evaluator team for the first year of running industries before complete constructing them and data were processed to find the efficiency score.

There is no difference between guidelines for handling industrial projects in lots of nations in the EIA plan. The concept and procedure are the same depending on an inventory of the availability of projects. The importance of projects in itself and the environment depends on the properties of projects. The environmental impact pertains to pollutants dissipated from project ambient and mitigation of defined environmental impacts to impede culminating emissions. By the screening step of the project identification is sorted out the energy and materials streams and is listed whole facilities and equipment accommodated in the project ambient. On the other hand, experts can manage the time to make a list of whole properties of the project which underpin the content of financial, environmental, and economical assessments and pave the way towards modeling based on an inventory of properties and decision-making theory. Lots of criteria can be sorted out to assess financial, and environmental aspects. The variables or criteria proceed the projects towards decision-making science and configure the matrix of decision based on a variety of models developed. If the projects move ahead by a completed review in an uncertain situation decision theory brings MCDM models to solve the challenges raised. The prominent organizations that participated in the EIA plan of projects are industries organization, environment protection agency, World Bank, European Development Bank, Asian Development Bank, etc. (Lohani et al., 1997).

DEA is an important decision-making instrument with a strong base in economic sciences consisting of a variety of introduced variables to assess the performance of projects. Concerning this fact that a wide range of DEA models was recently introduced and developed but all of them follow the same purpose to find the efficiency score of alternatives and discover the way to offer some improvement points for escalating the performance of assessed alternatives (Zurano-Cervello et al., 2018).