Cost Assessment for final year project
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FIXED CAPITAL INVESTEMENT Distributive factors for bulk materials-gas processes (1) COMPRESSOR Direct cost USD Purchased cost(PC 742930 Settling cost 20% of PC 148586 Bulk installation Foundation: Material cost = M 6% of PC 44575.8 Labor cost = LC 133% of MC 59285.81 Sructural steel: Material cost = M 5% of PC 37146.5 Labor cost = LC 50% of MC 18573.25 Buildings: Material cost = M 3% of PC 22287.9 Labor cost = LC 100% of MC 22287.9 Insulation: Material cost = M 2% of PC 14858.6 Labor cost = LC 150% of MC 22287.9 Instruments: Material cost = M 7% of PC 52005.1 Labor cost = LC 75% of MC 39003.83 Electrical: Material cost = M 6% of PC 44575.8 Labor cost = LC 40% of MC 17830.32 Pipng: Material cost = M 40% of PC 297172 Labor cost = LC 50% of MC 148586 Land 1% of TCC 29717.2 Yard improvements 2% of TCC 59434.4 Indirct cost: Engg and sup cost 10% of TCC 297172 Contractors fee 2%of TCC 59434.4 Contingency 8% of TCC 237737.6 Maintenance 4% of TCC 118868.8 Total catpital co 2534357
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this files contains the method for cost assessment for the final year project: design of flare gas recovery system.payback period is also calculated.
Transcript of Cost Assessment for final year project
FIXED CAPITAL INVESTEMENT
Distributive factors for bulk materials-gas processes
(1) COMPRESSOR
Direct cost USD Purchased cost(PC) 742930Settling cost 20% of PC 148586Bulk installation:Foundation:
Material cost = MC 6% of PC 44575.8Labor cost = LC 133% of MC 59285.81
Sructural steel:Material cost = MC 5% of PC 37146.5Labor cost = LC 50% of MC 18573.25
Buildings:Material cost = MC 3% of PC 22287.9Labor cost = LC 100% of MC 22287.9
Insulation:Material cost = MC 2% of PC 14858.6Labor cost = LC 150% of MC 22287.9
Instruments:Material cost = MC 7% of PC 52005.1Labor cost = LC 75% of MC 39003.83
Electrical:Material cost = MC 6% of PC 44575.8Labor cost = LC 40% of MC 17830.32
Pipng:Material cost = MC 40% of PC 297172Labor cost = LC 50% of MC 148586
Land 1% of TCC 29717.2Yard improvements 2% of TCC 59434.4
Indirct cost:Engg and sup cost 10% of TCC 297172Contractors fee 2%of TCC 59434.4Contingency 8% of TCC 237737.6Maintenance 4% of TCC 118868.8
Total catpital cost 2534357
Distributive factors for bulk materials-gas processes
(2) SERVICE LIQUID SEPARATOR
Direct cost USD Purchased cost(PC) 17550Settling cost 20% of PC 3510Bulk installation:Foundation:
Material cost = MC 6% of PC 1053Labor cost = LC 133% of MC 1400.49
Sructural steel:Material cost = MC 5% of PC 877.5Labor cost = LC 50% of MC 438.75
Buildings:Material cost = MC 3% of PC 526.5Labor cost = LC 100% of MC 526.5
Insulation:Material cost = MC 2% of PC 351Labor cost = LC 150% of MC 526.5
Instruments:Material cost = MC 7% of PC 1228.5Labor cost = LC 75% of MC 921.375
Electrical:Material cost = MC 6% of PC 1053Labor cost = LC 40% of MC 421.2
Pipng:Material cost = MC 40% of PC 7020Labor cost = LC 50% of MC 3510
Land 1% of TCC 702Yard improvements 2% of TCC 1404
Indirct cost:Engg and sup cost 10% of TCC 7020Contractors fee 2%of TCC 1404Contingency 8% of TCC 5616Maintenance 4% of TCC 2808
Total catpital cost 59868.32
Distributive factors for bulk materials-gas processes
(3) ABSORBER
Direct cost USD Purchased cost(PC) 96100Settling cost 20% of PC 19220Bulk installation:Foundation:
Material cost = MC 6% of PC 5766Labor cost = LC 133% of MC 7668.78
Sructural steel:Material cost = MC 5% of PC 4805Labor cost = LC 50% of MC 2402.5
Buildings:Material cost = MC 3% of PC 2883Labor cost = LC 100% of MC 2883
Insulation:Material cost = MC 2% of PC 1922Labor cost = LC 150% of MC 2883
Instruments:Material cost = MC 7% of PC 6727Labor cost = LC 75% of MC 5045.25
Electrical:Material cost = MC 6% of PC 5766Labor cost = LC 40% of MC 2306.4
Pipng:Material cost = MC 40% of PC 38440Labor cost = LC 50% of MC 19220
Land 1% of TCC 3844Yard improvements 2% of TCC 7688
Indirct cost:Engg and sup cost 10% of TCC 38440Contractors fee 2%of TCC 7688Contingency 8% of TCC 30752Maintenance 4% of TCC 15376
Total catpital cost 327825.9
Distributive factors for bulk materials-liquid processes
(4) FLASH DRUM
Direct cost USD Purchased cost(PC) 16026Settling cost 20% of PC 3205.2Bulk installation:Foundation:
Material cost = MC 6% of PC 961.56Labor cost = LC 133% of MC 1278.875
Sructural steel:Material cost = MC 5% of PC 801.3Labor cost = LC 50% of MC 400.65
Buildings:Material cost = MC 3% of PC 480.78Labor cost = LC 100% of MC 480.78
Insulation:Material cost = MC 2% of PC 320.52Labor cost = LC 150% of MC 480.78
Instruments:Material cost = MC 7% of PC 1121.82Labor cost = LC 75% of MC 841.365
Electrical:Material cost = MC 6% of PC 961.56Labor cost = LC 40% of MC 384.624
Pipng:Material cost = MC 40% of PC 6410.4Labor cost = LC 50% of MC 3205.2
Land 1% of TCC 641.04Yard improvements 2% of TCC 1282.08
Indirct cost:Engg and sup cost 10% of TCC 6410.4Contractors fee 2%of TCC 1282.08Contingency 8% of TCC 5128.32Maintenance 4% of TCC 2564.16
Total catpital cost 54669.49
Distributive factors for bulk materials-liquid processes
(5) RICH/LEAN EXCHANGER
Direct cost USD Purchased cost(PC) 39000Settling cost 20% of PC 7800Bulk installation:Foundation:
Material cost = MC 6% of PC 2340Labor cost = LC 133% of MC 3112.2
Sructural steel:Material cost = MC 5% of PC 1950Labor cost = LC 50% of MC 975
Buildings:Material cost = MC 3% of PC 1170Labor cost = LC 100% of MC 1170
Insulation:Material cost = MC 2% of PC 780Labor cost = LC 150% of MC 1170
Instruments:Material cost = MC 7% of PC 2730Labor cost = LC 75% of MC 2047.5
Electrical:Material cost = MC 6% of PC 2340Labor cost = LC 40% of MC 936
Pipng:Material cost = MC 40% of PC 15600Labor cost = LC 50% of MC 7800
Land 1% of TCC 1560Yard improvements 2% of TCC 3120
Indirct cost:Engg and sup cost 10% of TCC 15600Contractors fee 2%of TCC 3120Contingency 8% of TCC 12480Maintenance 4% of TCC 6240
Total catpital cost 133040.7
Distributive factors for bulk materials-liquid processes
(6) STRIPPER
Direct cost USD Purchased cost(PC) 178300Settling cost 20% of PC 35660Bulk installation:Foundation:
Material cost = MC 6% of PC 10698Labor cost = LC 133% of MC 14228.34
Sructural steel:Material cost = MC 5% of PC 8915Labor cost = LC 50% of MC 4457.5
Buildings:Material cost = MC 3% of PC 5349Labor cost = LC 100% of MC 5349
Insulation:Material cost = MC 2% of PC 3566Labor cost = LC 150% of MC 5349
Instruments:Material cost = MC 7% of PC 12481Labor cost = LC 75% of MC 9360.75
Electrical:Material cost = MC 6% of PC 10698Labor cost = LC 40% of MC 4279.2
Pipng:Material cost = MC 40% of PC 71320Labor cost = LC 50% of MC 35660
Land 1% of TCC 7132Yard improvements 2% of TCC 14264
Indirct cost:Engg and sup cost 10% of TCC 71320Contractors fee 2%of TCC 14264Contingency 8% of TCC 57056Maintenance 4% of TCC 28528
Total catpital cost 608234.8
Distributive factors for bulk materials-liquid processes
(7) SURGE TANK
Direct cost USD Purchased cost(PC) 15500Settling cost 20% of PC 3100Bulk installation:Foundation:
Material cost = MC 6% of PC 930Labor cost = LC 133% of MC 1236.9
Sructural steel:Material cost = MC 5% of PC 775Labor cost = LC 50% of MC 387.5
Buildings:Material cost = MC 3% of PC 465Labor cost = LC 100% of MC 465
Insulation:Material cost = MC 2% of PC 310Labor cost = LC 150% of MC 465
Instruments:Material cost = MC 7% of PC 1085Labor cost = LC 75% of MC 813.75
Electrical:Material cost = MC 6% of PC 930Labor cost = LC 40% of MC 372
Pipng:Material cost = MC 40% of PC 6200Labor cost = LC 50% of MC 3100
Land 1% of TCC 620Yard improvements 2% of TCC 1240
Indirct cost:Engg and sup cost 10% of TCC 6200Contractors fee 2%of TCC 1240Contingency 8% of TCC 4960Maintenance 4% of TCC 2480
Total catpital cost 52875.15
Distributive factors for bulk materials-liquid processes
(8) MAIN AMINE PUMP
Direct cost USD Purchased cost(PC) 4360Settling cost 10% of PC 436Bulk installation:Foundation:
Material cost = MC 6% of PC 261.6Labor cost = LC 133% of MC 347.928
Sructural steel:Material cost = MC 5% of PC 218Labor cost = LC 50% of MC 109
Buildings:Material cost = MC 3% of PC 130.8Labor cost = LC 100% of MC 130.8
Insulation:Material cost = MC 2% of PC 87.2Labor cost = LC 150% of MC 130.8
Instruments:Material cost = MC 7% of PC 305.2Labor cost = LC 75% of MC 228.9
Electrical:Material cost = MC 6% of PC 261.6Labor cost = LC 40% of MC 104.64
Pipng:Material cost = MC 40% of PC 1744Labor cost = LC 50% of MC 872
Land 1% of TCC 174.4Yard improvements 2% of TCC 348.8
Indirct cost:Engg and sup cost 10% of TCC 1744Contractors fee 2%of TCC 348.8Contingency 8% of TCC 1395.2Maintenance 4% of TCC 697.6
Total catpital cost 14437.27
Distributive factors for bulk materials-liquid processes
(8) BOOSTER PUMP
Direct cost USD Purchased cost(PC) 4360Settling cost 10% of PC 436Bulk installation:Foundation:
Material cost = MC 6% of PC 261.6Labor cost = LC 133% of MC 347.928
Sructural steel:Material cost = MC 5% of PC 218Labor cost = LC 50% of MC 109
Buildings:Material cost = MC 3% of PC 130.8Labor cost = LC 100% of MC 130.8
Insulation:Material cost = MC 2% of PC 87.2Labor cost = LC 150% of MC 130.8
Instruments:Material cost = MC 7% of PC 305.2Labor cost = LC 75% of MC 228.9
Electrical:Material cost = MC 6% of PC 261.6Labor cost = LC 40% of MC 104.64
Pipng:Material cost = MC 40% of PC 1744Labor cost = LC 50% of MC 872
Land 1% of TCC 174.4Yard improvements 2% of TCC 348.8
Indirct cost:Engg and sup cost 10% of TCC 1744Contractors fee 2%of TCC 348.8Contingency 8% of TCC 1395.2Maintenance 4% of TCC 697.6
Total catpital cost 14437.27
Distributive factors for bulk materials-liquid processes
(9) AMINE COOLER
Direct cost USD Purchased cost(PC) 37260Settling cost 20% of PC 7452Bulk installation:Foundation:
Material cost = MC 6% of PC 2235.6Labor cost = LC 133% of MC 2973.348
Sructural steel:Material cost = MC 5% of PC 1863Labor cost = LC 50% of MC 931.5
Buildings:Material cost = MC 3% of PC 1117.8Labor cost = LC 100% of MC 1117.8
Insulation:Material cost = MC 2% of PC 745.2Labor cost = LC 150% of MC 1117.8
Instruments:Material cost = MC 7% of PC 2608.2Labor cost = LC 75% of MC 1956.15
Electrical:Material cost = MC 6% of PC 2235.6Labor cost = LC 40% of MC 894.24
Pipng:Material cost = MC 40% of PC 14904Labor cost = LC 50% of MC 7452
Land 1% of TCC 1490.4Yard improvements 2% of TCC 2980.8
Indirct cost:Engg and sup cost 10% of TCC 14904Contractors fee 2%of TCC 2980.8Contingency 8% of TCC 11923.2Maintenance 4% of TCC 5961.6
Total catpital cost 127105
Distributive factors for bulk materials-liquid processes
(10) SERVICE LIQUID COOLER
Direct cost USD Purchased cost(PC) 16530Settling cost 20% of PC 3306Bulk installation:Foundation:
Material cost = MC 6% of PC 991.8Labor cost = LC 133% of MC 1319.094
Sructural steel:Material cost = MC 5% of PC 826.5Labor cost = LC 50% of MC 413.25
Buildings:Material cost = MC 3% of PC 495.9Labor cost = LC 100% of MC 495.9
Insulation:Material cost = MC 2% of PC 330.6Labor cost = LC 150% of MC 495.9
Instruments:Material cost = MC 7% of PC 1157.1Labor cost = LC 75% of MC 867.825
Electrical:Material cost = MC 6% of PC 991.8Labor cost = LC 40% of MC 396.72
Pipng:Material cost = MC 40% of PC 6612Labor cost = LC 50% of MC 3306
Land 1% of TCC 661.2Yard improvements 2% of TCC 1322.4
Indirct cost:Engg and sup cost 10% of TCC 6612Contractors fee 2%of TCC 1322.4Contingency 8% of TCC 5289.6Maintenance 4% of TCC 2644.8
Total catpital cost 56388.79
Distributive factors for bulk materials-liquid processes
(11) REBOILER
Direct cost USD Purchased cost(PC) 39000Settling cost 20% of PC 7800Bulk installation:Foundation:
Material cost = MC 6% of PC 2340Labor cost = LC 133% of MC 3112.2
Sructural steel:Material cost = MC 5% of PC 1950Labor cost = LC 50% of MC 975
Buildings:Material cost = MC 3% of PC 1170Labor cost = LC 100% of MC 1170
Insulation:Material cost = MC 2% of PC 780Labor cost = LC 150% of MC 1170
Instruments:Material cost = MC 7% of PC 2730Labor cost = LC 75% of MC 2047.5
Electrical:Material cost = MC 6% of PC 2340Labor cost = LC 40% of MC 936
Pipng:Material cost = MC 40% of PC 15600Labor cost = LC 50% of MC 7800
Land 1% of TCC 1560Yard improvements 2% of TCC 3120
Indirct cost:Engg and sup cost 10% of TCC 15600Contractors fee 2%of TCC 3120Contingency 8% of TCC 12480Maintenance 4% of TCC 6240
Total catpital cost 133040.7
Distributive factors for bulk materials-gas processes
(12) REFLUX CONDENSOR
Direct cost USD Purchased cost(PC) 26000Settling cost 20% of PC 5200Bulk installation:Foundation:
Material cost = MC 6% of PC 1560Labor cost = LC 133% of MC 2074.8
Sructural steel:Material cost = MC 5% of PC 1300Labor cost = LC 50% of MC 650
Buildings:Material cost = MC 3% of PC 780Labor cost = LC 100% of MC 780
Insulation:Material cost = MC 2% of PC 520Labor cost = LC 150% of MC 780
Instruments:Material cost = MC 7% of PC 1820Labor cost = LC 75% of MC 1365
Electrical:Material cost = MC 6% of PC 1560Labor cost = LC 40% of MC 624
Pipng:Material cost = MC 40% of PC 10400Labor cost = LC 50% of MC 5200
Land 1% of TCC 1040Yard improvements 2% of TCC 2080
Indirct cost:Engg and sup cost 10% of TCC 10400Contractors fee 2%of TCC 2080Contingency 8% of TCC 8320Maintenance 4% of TCC 4160
Total catpital cost 88693.8
Distributive factors for bulk materials-liquid processes
(13) REFLUX DRUM
Direct cost USD Purchased cost(PC) 14800Settling cost 20% of PC 2960Bulk installation:Foundation:
Material cost = MC 6% of PC 888Labor cost = LC 133% of MC 1181.04
Sructural steel:Material cost = MC 5% of PC 740Labor cost = LC 50% of MC 370
Buildings:Material cost = MC 3% of PC 444Labor cost = LC 100% of MC 444
Insulation:Material cost = MC 2% of PC 296Labor cost = LC 150% of MC 444
Instruments:Material cost = MC 7% of PC 1036Labor cost = LC 75% of MC 777
Electrical:Material cost = MC 6% of PC 888Labor cost = LC 40% of MC 355.2
Pipng:Material cost = MC 40% of PC 5920Labor cost = LC 50% of MC 2960
Land 1% of TCC 592Yard improvements 2% of TCC 1184
Indirct cost:Engg and sup cost 10% of TCC 5920Contractors fee 2%of TCC 1184Contingency 8% of TCC 4736Maintenance 4% of TCC 2368
Total catpital cost 50487.24
Distributive factors for bulk materials-g liquid processes
(14) CARBON FILTER
Direct cost USD Purchased cost(PC) 10000Settling cost 15% of PC 1500Bulk installation:Foundation:
Material cost = MC 6% of PC 600Labor cost = LC 133% of MC 798
Sructural steel:Material cost = MC 5% of PC 500Labor cost = LC 50% of MC 250
Buildings:Material cost = MC 3% of PC 300Labor cost = LC 100% of MC 300
Insulation:Material cost = MC 2% of PC 200Labor cost = LC 150% of MC 300
Instruments:Material cost = MC 7% of PC 700Labor cost = LC 75% of MC 525
Electrical:Material cost = MC 6% of PC 600Labor cost = LC 40% of MC 240
Pipng:Material cost = MC 40% of PC 4000Labor cost = LC 50% of MC 2000
Land 1% of TCC 400Yard improvements 2% of TCC 800
Indirct cost:Engg and sup cost 10% of TCC 4000Contractors fee 2%of TCC 800Contingency 8% of TCC 3200Maintenance 4% of TCC 1600
Total catpital cost 33613
(15) COST OF MDEA
Unit cost of MDEA 8 USD/galVolume required 200 gallonTotal cost of MDEA 1600 USD
OPERATING COST
OPERATING COST FOR COMPRESSOR
Compressor power 652 KWCompressor power in joules/hr 2347200000 J/hrPower required per day 56332800000 JUnits consumed per day 15648 KWhCost of electricity 0.1622 USD/KWhCost per day 2538.1056 USDCost per year 847727.2704 USD/yr
OPERATING COST FOR BOOSTER PUMP
Pump power 7 hpPump power in joule/hr 18799200 J/hrPower required per day 451180800 JUnits consumed per day 125.328 KWhCost of electricity 0.1622 USD/KWhCost per day 20.3282016 USD/dayCost per year 6789.6193344 USD/yr
OPERATING COST OF REBOILER
Reboiler power 1400 kwCondensor Power in J/hr 5040000000 J/hrPower required per day 120960000000J/dayUnits consumed per day 33600 kwhElectricity cost per unit 0.1622 USD/unitElectricity cost per day 5449.92 USD/dayElectricity cost per year 1820273.28 USD/yr
OPERATING COST OF SERVICE LIQUID COOLER
Mass flow rate of cooling water 21000 Kg/hrMass flow per day 504000 Kg/dayCost of sea cooling water 0.002 USD/kgCost per day 1008 USD/dayCost of cooling water per year 336672 USD/yr
MDEA MAKEUP COST
Makeup rate for MDEA 0.128 Kg/hrMakeup rate for MDEA per day 3.072 kg/dayCost of MDEA 2 USD/kgCost of MDEA per day 6.144 USD/dayCost of MDEA per year 2052.096 USD/yr
OPERATING COST FOR AMINE AIR COOLER
Power for air cooler 220 KWPower for air cooler in J/hr 792000000 J/hrPower required per day 19008000000 J/dayUnits consumed per day 5280 KWhElectricity cost per unit 0.1622 USD/KWhElectricity cost per day 856.416 USD/dayElectricity cost per year 286042.944 USD/yr
OPERATING COST FOR CONDENSOR
Condensor power 500 KWCondensor Power in J/hr 1800000000 J/hrPower required per day 43200000000 J/dayUnits consumed per day 12000 KWhElectricity cost per unit 0.1622 USD/KWhElectricity cost per day 1946.4 USD/dayElectricity cost per year 650097.6 USD/yr
LABOR COST
USD/year PKR/YearGeneral plant manager 100000 10477000Administrative assistant 45000 4714650Secretary/Receptionist 25000 2619250Shift superintendent 75000 7857750Support operator 45000 4714650
TOTAL COST 290000 30383300
FUEL GAS REVENUE
Gas price for industries in 2015 by OGRA Rs 600/MMBTU
Heating value of recovered gas 573667 KJ/KmolMolar density of recovered gas 0.204 Kmol/m3Heating value in KJ/m3 117028 KJ/m3Heat content of 1ft3 gas 3143 BTUMass flow rate of recovered gas 5711 kg/hrMass density of recovered gas 3.87 Kg/m3vol flow rate 1475.711 m3/hrVol flow rate of recovered gas 52074 ft3/hrRecovered BTUs 164 MMBTU/hrRevenue per day 2400000 (PKR)/dayRevenue per day 22907.32 USD/dayRevenue per year 7651045 USD/yrRevenue per year 8.02E+08 Rs./yr
SUMMARY
COST USD PKRFIXED CAPITAL COST 4290675 4.5E+08OPERATING COST/YEAR 4239655 4.44E+08TOTAL CAPITAL COST/YEAR 8530329 8.94E+08REVENUE 7651045 8.02E+08AVERAGE PROFIT 3411390 3.57E+08
MONTHS YEARPAYBACK PERIOD 24.00417 2.000348
