AccScience Publishing / DP / Online First / DOI: 10.36922/DP025320036
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Investment projects in extractive industries: The role of engineer-to-order machinery

Danylo Cherevatskyi1* ,  Viktor Artemov1
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1 Department for Strategic Development of the Fuel and Energy Sector, Institute of Industrial Economics, National Academy of Sciences of Ukraine, Kyiv, Ukraine
DP, 025320036 https://doi.org/10.36922/DP025320036
Received: 5 August 2025 | Revised: 9 November 2025 | Accepted: 12 November 2025 | Published online: 25 November 2025
© 2025 by the Author(s). This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution -Noncommercial 4.0 International License (CC-by the license) ( https://creativecommons.org/licenses/by-nc/4.0/ )
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Abstract

Investment decisions in extractive industries increasingly depend on the technological configuration of engineer-to-order (ETO) machinery. This study explores the role of ETO projects in reshaping investment logic within extractive industries. To strengthen conceptual framing, we explicitly distinguished between primary and secondary ETO within the multi-project investment structure. Special attention was given to secondary ETO—the adaptation of standardized equipment to specific geological conditions—which emerges as a critical component of multi-project investment strategies. We clarified that the novelty of the approach lies in treating secondary ETO as an embedded, corrective investment rather than a standalone engineering decision. In addition, we quantitatively assessed the impact of ETO-related expenditures within multi-project investment, using the net present value indicator. This study introduced a model that comprises both the base serial equipment and a custom ETO component, enabling the achievement of the designed performance parameters. To analyze sensitivity, we employed the Box–Wilson experimental design method. Results showed that ETO costs had no significant influence on the response function (i.e., the production volume required to reach breakeven), whereas the most critical factors were the marginal revenue and the project duration. Theoretically, this study reconceptualizes ETO not as an isolated manufacturing decision but as a functional component within broader investment planning. These results reinforce the conceptual distinction between primary and secondary ETO by demonstrating that corrective engineering adaptations embedded in multi-project structures do not alter the financial breakeven logic.

Graphical abstract
Keywords
Engineer-to-order
Mechanical engineering
Large companies
Investment
Multi-project
Extractive industries
Funding
None.
Conflict of interest
The authors declare that they have no competing interests.
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