Based on the analysis of financial condition, the methodology of assessing the economic efficiency of the reconstruction of sintering production of OJSC "Magnitogorsk Iron and Steel Works", which allows using the criterion of flexibility in the development of the enterprise. The assessment of the effectiveness of the implemented investment project by the traditional methodology allowed to establish the payback period; net discounted income; the return on investment index; the internal rate of return. In addition to these it is proposed to calculate a number of coefficients characterizing the activities of other subdivisions of the metallurgical plant.