Cost estimation using seamless data flow from Process Simulation Models to Cost Estimation tools.
In feasibility studies, economic evaluation is an extremely important factor. Aspen Process Economic Analyzer (APEA) automatically reads equipment and stream information from simulation models built in Aspen Plus® or Aspen HYSYS®, and performs automatic equipment sizing.
Based on this sizing information, it calculates the costs required for project economic evaluation, including equipment purchase costs, construction costs, labor costs, and maintenance costs.
Furthermore, APEA allows for flexible modifications, such as adding or removing equipment and fine-tuning equipment materials.
For example, auxiliary systems that may have been omitted in the simulation—such as cooling towers or steam generation boilers—can be added to enable a more realistic estimation of total plant costs.
Cost comparisons between processes can also be performed quickly.
This allows for rapid evaluation of different process options, making it a highly effective tool for capital investment decision-making. Even in cases where a simulation model is not available, cost estimation can still be carried out by directly entering equipment lists and process specifications.
Improve accuracy of Construction Cost Estimation with Aspen OptiPlant® 3D Layout
By utilizing Aspen OptiPlant® 3D Layout, it is possible to improve the accuracy of bulk cost estimation—such as piping and structural steel—within APEA construction cost evaluations.
Simulation models created in Aspen Plus® and other tools can be imported, and AI is used to automatically generate a 3D plant layout with automated piping routing. This allows for both visual and quantitative understanding of piping lengths, equipment spacing, and structural placement, enabling more realistic material quantity estimation.
Aspen OptiPlant® serves as a powerful tool to enhance the accuracy of bulk material evaluations, which has traditionally been difficult with conventional estimation methods, thereby increasing the reliability of capital investment decisions.
In addition to plant cost estimation, we also offer custom development of Excel-based techno-economic analysis (TEA) tools.
Based on the results from APEA and process simulations, we calculate construction costs, raw material and utility costs, and product manufacturing costs—supporting more practical and informed decision-making.
If you’re looking to visualize costs and plan your next move, or understand the economic impact of process changes, please don’t hesitate to contact us.
Our engineers, well-versed in economic evaluation, are ready to provide strong support tailored to your needs.
