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Equipment Sizing and Capital Cost Estimation

PRODUCT and PROCESS DESIGNLECTURE 06 Warren D. Seider, University of Pennsylvania1 Equipment Sizing and Capital Cost EstimationWarren D. SeiderUniversity of PennsylvaniaPhiladelphia, PennsylvaniaEquipment Sizing and Capital Cost Estimation2 Selection of Topics - depends on previous exposure to process economicsCan begin with cost accounting gives a goodview of corporate finances and considerationswhen evaluating a potential limited time begin with Equipment Sizing and Capital cost Estimation . Again, coverage depends on previous exposure to Sizing of:Pressure vessels, heat exchangers, pumps,compressors, etc.

Equipment Sizing and Capital Cost Estimation 20 See Section 16.7 (SSL, 2004)–Equipment Sizing and Capital Cost Estimation Using The Aspen Icarus Process Evaluator (IPE) Course Notes (SSL, 2004)–Aspen Icarus Process Evaluator (IPE) –Equipment Sizing and Costing Using ASPEN PLUS to Initiate Evaluation.

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Transcription of Equipment Sizing and Capital Cost Estimation

1 PRODUCT and PROCESS DESIGNLECTURE 06 Warren D. Seider, University of Pennsylvania1 Equipment Sizing and Capital Cost EstimationWarren D. SeiderUniversity of PennsylvaniaPhiladelphia, PennsylvaniaEquipment Sizing and Capital Cost Estimation2 Selection of Topics - depends on previous exposure to process economicsCan begin with cost accounting gives a goodview of corporate finances and considerationswhen evaluating a potential limited time begin with Equipment Sizing and Capital cost Estimation . Again, coverage depends on previous exposure to Sizing of:Pressure vessels, heat exchangers, pumps,compressors, etc.

2 PRODUCT and PROCESS DESIGNLECTURE 06 Warren D. Seider, University of Pennsylvania2 Equipment Sizing and Capital Cost Estimation3 Many sources on selection and Sizing of many kinds of equipmentUlrich, G. D., and P. T. Vasudevan,Chemical Engineering Process Design & Economics: A Practical Guide, Second Edition, , M. S., K. D. Timmerhaus, and R. West, Plant Design and Economics for Chemical Engineers, Fifth Edition, McGraw-Hill, , H. J., and E. T. Luckiewicz, Practical Process Engineering, XIMIX, Philadelphia, PA, , R., R. C. Bailie, W. B. Whiting, and J. A. Shaeiwitz, Analysis, Synthesis, and Design of Chemical Processes, Second Edition, Prentice-Hall, 2003.

3 Seider, W. D., J. D. Seader, and D. R. Lewin, Product and Process Design Principles: Synthesis, Analysis, and Evaluation, Second Edition, Wiley, 2004. Equipment Sizing and Capital Cost Estimation4 One Popular Option Distillation Complex4'2'10'RefluxPumpDistillatecwCond enserReflux Accumulator(horiz. process vessel)Column(vertical processvessel)ReboilerSteamCondensateBot toms ProductReboiler PumpFeedPRODUCT and PROCESS DESIGNLECTURE 06 Warren D. Seider, University of Pennsylvania3 Equipment Sizing and Capital Cost Estimation5 Shell-and-Tube Heat ExchangerTH,outTC,outTC,inTH,inLMTUAQ =LMTUQA = Equipment Sizing and Capital Cost Estimation6 Purchase Costs Shell-and-tube Heat ExchangersPRODUCT and PROCESS DESIGNLECTURE 06 Warren D.

4 Seider, University of Pennsylvania4 Equipment Sizing and Capital Cost Estimation7[] []{}2exp ln( ) ln( )BCAA= +[] []{}2exp ln( ) ln( )BCAA= +[] []{}2exp ln( ) ln( )BCAA= +[] []{}2exp ln( ) ln( )BCAA= +Floating HeadFixed HeadU-tubeKettle VaporizerEquipment Sizing and Capital Cost Estimation8 PPM L BCFFFC=Purchase CostPressure factorMaterials factorTube-length correctionPRODUCT and PROCESS DESIGNLECTURE 06 Warren D. Seider, University of Pennsylvania5 Equipment Sizing and Capital Cost Estimation9 Material of construction Shell/Tube a in Eq. ( ) b in Eq.

5 ( ) Carbon steel/Carbon steel Carbon steel/Brass Carbon steel/Stainless steel Carbon steel/Monel Carbon steel/Titanium Carbon steel/Cr-Mo steel Cr-Mo steel/Cr-Mo steel Stainless steel/Stainless steel Monel/Monel Titanium/Titanium Materials of Construction Factors, FM, for Shell-and-Tube Heat Exchangers100bMAFa =+ Equipment Sizing and Capital Cost Estimation10 Pressure =+ + psiaTube-length Correction FactorTube length, ft FL 8 12 16 20 PRODUCT and PROCESS DESIGNLECTURE 06 Warren D. Seider, University of Pennsylvania6 Equipment Sizing and Capital Cost Estimation11 Cost IndexesEquipment Sizing and Capital Cost Estimation12 Bare Module Cost Heat Exchanger Table (SSL, 2004)PRODUCT and PROCESS DESIGNLECTURE 06 Warren D.

6 Seider, University of Pennsylvania7 Equipment Sizing and Capital Cost Estimation13 Bare Module Factors - Table (SSL, 2004) Equipment Sizing and Capital Cost Estimation14 Total Capital Investment Table (SSL, 2004)PRODUCT and PROCESS DESIGNLECTURE 06 Warren D. Seider, University of Pennsylvania8 Equipment Sizing and Capital Cost Estimation15 Cost EquationsSSL (2004) Purchase Cost Equationsfor numerous process units see Table for other equipmentitems. Available literature sources back to 1960 consulted. After determining a suitable Equipment size factor,all of the cost data were plotted.

7 When a wide spread in the data was evident, which was not uncommon, an attempt was made to assessthe validity of the data by comparison with costs ofsimilar Equipment . When the validity could not be determined, the datawere averaged. In some cases, cost data were obtained from Sizing and Capital Cost Estimation16 Table contains cost equations for:Agitators, autoclaves, crystallizers, dryers, dust collectors, evaporators, fired heaters, heat exchangers, liquid-liquidextractors, membrane separations, mixers, turbines, screens,size enlargers, size reducers, solid-liquid separators, solidshandling systems, storage tanks, vacuum systems, waste-water and PROCESS DESIGNLECTURE 06 Warren D.

8 Seider, University of Pennsylvania9 Equipment Sizing and Capital Cost Estimation17 Aspen Icarus Process Evaluator (IPE)Extends results of process simulationsGenerates rigorous size estimates for processingequipment and estimates costs based upon extensivedataPerforms preliminary mechanical designsEstimates purchase and installation costs, indirect costs,the total Capital investment, the engineering-procurement-construction schedule, and profitability analysisEquipment Sizing and Capital Cost Estimation18 Aspen IPE uses five key steps1. Simulation results are loadedinto Aspen Process simulation units are mappedinto more descriptivemodels of process units and associated plant bulks includinginstallation items, such as piping, instrumentation, paint, Equipment items are sizedand re-sizedwhen Capital costs, operating costs, and the total investment are evaluatedfor a Results are presented to be reviewed, with modificationsas necessary.

9 PRODUCT and PROCESS DESIGNLECTURE 06 Warren D. Seider, University of Pennsylvania10 Equipment Sizing and Capital Cost Estimation19 Aspen IPE FeaturesNumerous default design basis parameters are built in foruse in rigorous Equipment - Sizing routines for many Equipment module factors are notused. Extensive data are usedto estimate the costs of materials, labor, and constructionequipment based upon detailed design calculations for foundations, platforms, piping, instrumentation, electrical connections,insulation, painting, .. Equipment Sizing and Capital Cost Estimation20 SeeSection (SSL, 2004) Equipment Sizing and Capital Cost Estimation Using The Aspen IcarusProcess Evaluator (IPE)Course notes (SSL, 2004) Aspen Icarus Process Evaluator (IPE) Equipment Sizing and costing UsingASPEN PLUS to Initiate Evaluation.