ABSTRACT
An evaluation of the project’s effectiveness and selection of appropriate sources of financing are essential stages of investment decision-making process. These issues are particularly substantial in infrastructure projects, including the structure of High Speed Railways. In such projects it is necessary to adapt the methodologies to specific features of infrastructure investments, mainly concerning their capital intensiveness and a long time of structure and use. In the present chapter, considering achievements of economic studies and requirements of entities co-financing the investments from public means, methodological guidelines of the financial and economic assessment were presented. This evaluation should answer to 2 key questions, i.e. whether the project is worth co-financing and whether the project needs co-financing.
Considering studies that have been taken in Poland for years, results of financial and economic evaluation of the structure of the first high speed railway i.e. Warszawa–Łódź–Poznań/Wrocław were presented. Presented conclusions of the financial evaluation confirm that the implementation of this investment requires support from public funds. The evaluation of the economic effectiveness shows that supporting the structure of this line from public means will give social and economic effects appropriate involved resources. Travel time savings, reducing cost of private cars and road traffic accidents and limiting the negative impact on the environment, including reduction of toxic substances emission, greenhouse gases and noise will be the main benefits of building such a line.
