How to estimate the equipment cost?

Question

How to estimate the equipment cost?

Jimmy SHU (Student)

(OP)

5 Mar 21 10:58

Hello, friends！
I have completed 2 sets of process simulations using Aspen Plus. I want to estimate the cost of the heat exchangers, pumps, compressors, distillation towers and other equipment that appear in the process.
However, I read a lot of literature and found that the formula they used was more complicated, and the calculated equipment price had a small gap with the real price.
I am currently in the conceptual design stage, so I want to use the aspen simulation results to estimate the approximate equipment price roughly.
I hope you can recommend some articles or books, thank you very much!

LittleInch (Petroleum) · Answer 1 · 2021-03-05 12:14:29

PLease do not post in more than one forum.

All your other posts will be lagged for deletion.

Remember - More details = better answers
Also: If you get a response it's polite to respond to it.

Jimmy SHU (Student) · Answer 2 · 2021-03-05 12:34:11

Quote (LittleInch)

Thanks for the suggestion. I am not familiar with this BBS and I am sorry for the inconvenience caused.

LittleInch (Petroleum) · Answer 3 · 2021-03-05 13:05:20

You really need to engage with an estimator.

They often have access to proprietary books and updated information on process plant.

You need really to define your estimate requirements and many people use the definitions of the AACE in terms of accuracy and variation. A "rough" price is very indeterminate. +/- 50% or +/-20%?? Both are "rough" prices....

Alternatively obtain budget prices from one or two vendors of the large cost items.

Remember - More details = better answers
Also: If you get a response it's polite to respond to it.

Jimmy SHU (Student) · Answer 4 · 2021-03-05 13:39:22

Thanks LittleInch. Its night now in China, I will go to sleep. Tomorrow I will update some details about my question.
:)

EdStainless (Materials) · Answer 5 · 2021-03-05 14:20:05

If these are known processes you can reach out to Intratec.us
They provide block process diagrams, equipment estimates and production cost estimates; all for a price.

= = = = = = = = = = = = = = = = = = = =
P.E. Metallurgy, consulting work welcomed

MC2015 (Chemical) · Answer 6 · 2021-03-05 15:39:44

You can invoke the ASPEN Economics Analyzer

Jimmy SHU (Student) · Answer 7 · 2021-03-06 00:37:53

Quote (EdStainless)

Thanks for your suggestion. I will contact with them.

Jimmy SHU (Student) · Answer 8 · 2021-03-06 00:42:42

Quote (MC2015)

I have used AEA to estimate, but this tool can only give calculation results, no calculation formula and process. I want to try to calculate the equipment cost manually using formulas and parameters.

Jimmy SHU (Student) · Answer 9 · 2021-03-06 01:01:29

Quote (LittleInch)

Good morning, I will add my question.
I have used Aspen Plus to complete the process simulation and obtained the simulation results of tower height, tower diameter, heat exchange area, etc. Therefore, I hope to use these simulation results to estimate the equipment cost roughly. It is not required to be very meticulous, such as adding labor costs, depreciation costs, etc., but hope that each device has a simple calculation formula, and there are several parameters related to conditions such as temperature and pressure.

Jimmy SHU (Student) · Answer 10 · 2021-03-06 08:45:59

Update question: Now I have found a way to estimate towers, pumps, compressors, heat exchangers and other equipment. But how should the cost of the reactor be estimated? Thank you!:)

pierreick (Chemical) · Answer 11 · 2021-03-07 11:44:28

Hi,
I've been working 10 years in China , quite easy to get multiple quotes for equipment . The main difficulty is to find the right supplier .
Other possibility is to work with engineering companies who have large data base ( TCC is the first coming to my mind) .
For reactor you need to be more specific about the metallurgy : CS , SS ,alloys or glass lined .
In China you have many reputable companies for glass lined reactors ( De dietrich, Pfaudler and local brands ), for steel you need to approach local manufacturers .
Good luck
Pierre

Jimmy SHU (Student) · Answer 12 · 2021-03-08 00:35:28

Quote (pierreick)

Hello, I am currently writing my master's thesis, not already working. Therefore, I do not want to spend money on professional equipment cost analysis. I used Aspen simulation results to complete cost estimates for towers, tanks, pumps, compressors, and heat exchangers. Thank you for your reply and wish you a happy life.

miningman (Mining) · Answer 13 · 2021-03-11 01:39:38

This site specifically excludes student posting. Please take your queries elsewhere

adammal44 (Nuclear) · Answer 14 · 2021-04-13 17:21:52

If you are polite and friendly, some companies will give you a small amount of help relative to costing, even though you're just a student. It's worth reaching out to them.

Jimmy SHU (Student) · Answer 15 · 2021-04-14 13:32:54

Quote (adammal44)

Thanks for your advice. I have estimated the cost of production unit, and I'm waiting for the check of my professor.

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How to estimate the equipment cost?