These notes are prepared to provide a step-by-step procedure for estimation of thetotal capital investment using the Aspen Icarus Process Evaluator (Aspen IPE). AspenIPE is a software system provided by Aspen Technology, Inc., for economic evaluationof process designs. It determines the capital expenditure, operating costs, and theprofitability of proposed designs. Aspen IPE has an automatic, electronic
which links to process simulation programs. It is used to: (1) extend the results of process simulation, (2) generate rigorous size and cost estimates for processingequipment, (3) perform preliminary mechanical designs, and (4) estimate purchase andinstallation costs, indirect costs, the total capital investment, the engineering-procurement-construction planning schedule, and profitability analyses.Aspen IPE usually begins with the results of a simulation from one of the majorprocess simulators (e.g., ASPEN PLUS, HYSYS, CHEMCAD, and PRO/II), it beingnoted that users can, alternatively, provide equipment specifications and requestinvestment analysis without using the process simulators. In these notes, only resultsfrom ASPEN PLUS are used to initiate Aspen IPE evaluations and only capital costestimation is emphasized. Readers should refer to the
Aspen IPE User’s Guide
menu of Aspen IPE) for detailed instructions, explanations,and for improvements in new versions of the software system.These notes are organized as follows:1.
Instructions are provided to prepare an ASPEN PLUS simulation for use withAspen IPE.2.
A depropanizer example is provided to illustrate the use of Aspen IPE. Thedepropanizer is a distillation tower to recover propane and lighter speciesfrom a normal-paraffins stream, as shown in Figure 1. The simulationflowsheet and selected results are shown in Appendix I and in the multimediatutorial on the Wiley web site associated with this book (
Flash and Distillation
). Also, a copy of the file,RADFRAC.bkp, is provided in the ASPEN folder on the Wiley web site.3.
Additional features of Aspen IPE are introduced for a more complete process,the monochlorobenzene (MCB) separation process, which is discussed inSections 5.4 of the textbook (Seider et al., 2009). A copy of the simulationfile, MCB.bkp, is provided in the ASPEN folder on the Wiley web site.After completing these notes, to practice estimating capital costs using AspenIPE, you may wish to solve Exercises 22.4 and 23.21 in the textbook.In these notes, all of the calculations were carried out using Aspen IPE, Version2006.0, with the design and cost basis date being the First Quarter 2006.