A multiobjective metaheuristic approach to location of petrol stations by the capital budgeting model

Location of a chain of petrol stations in Poland is considered. The problem is formulated in terms of capital budgeting model. To evaluate different possible solutions three conflicting criteria express the present and future profit as well as the environmental impact. To solve the problem a two stage procedure is proposed. In the first stage a multiobjective metaheuristic technique is applied. It generates an approximation of the Pareto solutions set. In the second stage, the decision maker selects the best compromise among these solutions guided by an interactive multiobjective procedure.