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Cost estimating for chemical engineering plant design

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·         Cost estimating advice

·         Chapter 9 in  Perry's Chemical Engineers' Handbook (library at Ref 660.2021 C517)  Includes capital costs for several plants, equations for some equipment, etc.

·         Oil & Gas Journal (search plant costs, chemical prices, Nelson-Farrar refinery construction index, refinery operating costs)

·         Quizzes, glossary, equipment cost estimator

·         “Handbook of Petrochemicals Production Processes,” Robert A. Meyers, editor, McGraw-Hill (2005), 665.538 H236.  Requirements for capital investment, raw materials and utilities for many common petrochemicals.

Chemicals, raw materials and products:  CAUTION:  Prices for laboratory quantities are much higher than for the commercial quantities that you would use for plant design economic calculations.  Don't use the costs of raw materials and products given in the text.  If you search the internet, use “price” rather than “cost.” 

Utilities costs

Lower costs than those found below may be negotiated with local suppliers when large quantities are to be used.  To obtain the costs per GJ required by  CAPCOST, it is necessary to use the higher heating value (HHV), which is also known as “Energy content,” “Btu content,” “Heating value,” and “Calorific Value.”  Basically, it is the heat of combustion with liquid water as the product.  For natural gas the HHV depends on composition, and is approximately 1030 Btu/ft3 (at 30 Torr and 60oF).  Fuel oil #2 is about 140,000 Btu/gal and bituminous coal is ~30 MJ/kg.  See Conversion factors between energy units. 

 Waste treatment costs

Wages and benefits

Equipment sizing:  Before the cost of equipment can be estimated its size must be determined.  Similarly, the utilities requirements must be calculated.  Note that HYSYS/UniSim uses inappropriate default values when the units are first entered, e.g. tower diameter and heat exchanger area.  Do not use these default values for cost estimation.

Equipment and capital investment

·         “Richardson Process Plant Construction Cost Estimating Standards: The Richardson Rapid System,” Cost Data On Line, Inc. (CD & www.costdataonline.com)(2009). Excellent source of cost estimating methods.  1999 edition in the Clarkson Library at Ref 692.5 R522p

·         Separation cost versus concentration (Sherwood plots)

Calculation of NPV, DCFRR and payback period. 

 

Clarkson University's Department of Chemical and Biomolecular Engineering 

 

Disclaimer: The material on this page is intended for instructional purposes by Clarkson University students only.  Neither Clarkson University nor Professor Wilcox is responsible for problems caused by using this information.

 

W.R. Wilcox.  Last updated September 15, 2012.

 

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