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COSTING AND PROJECT EVALUATION
6.12. REFERENCES
ALLEN, D. H. (1991) Economic Evaluation of Projects, 3rd edn (Institution of Chemical Engineers,
London).
ANON. (2004) Process Engineering (Mar) 85. UK and international cost indices.
BECHTEL, L. B. (1960) Chem. Eng., NY 67 (Feb. 22nd) 127. Estimate working capital needs.
BRENNAN, D. (1998) Process Industry Economics (Institution of Chemical Engineers, London).
CHAUVEL,A., FOURNIER,G.and RAIMBAULT, C. (2003) Process Economic Evaluation (Technip).
CMR (2004) Chemical Marketing Reporter (Reed business information).
ECN (2004) European Chemical News (Reed business information).
ESTRUP, C. (1972) Brit. Chem. Eng. Proc. Tech. 17, 213. The history of the six-tenths rule in capital cost
estimation.
GARRETT, D. E. (1989) Chemical Engineering Economics (Van Norstrand Reinhold).
GUTHRIE, K. M. (1969) Chem. Eng., NY 76 (March 24th) 114. Capital cost estimating.
GUTHRIE, K. M. (1970) Chem. Eng., NY 77 (June 15th) 140. Capital and operating costs for 54 processes.
(Note: correction Dec. 14th, 7).
GUTHRIE, K. M. (1974) Process Plant Estimating, Evaluation, and Control (Craftsman books).
HALL,R. S., MATLEY,J. and MCNAUGHTON, J. (1982) Chem.Eng.,NY 89 (April 5th) 80. Current cost of process
equipment.
HAPPLE,J. and JORDAN, D. G. (1975) Chemical Process Economics, 2nd edn (Marcel Dekker).
HOLLAND,F. A.,WATSON, F.A.and WILKINSON, J. K. (1983) Introduction to Process Economics 2nd edn
(Wiley).
ICHEME (2000) Guide to Capital Cost Estimation, 4th edn (Institution of Chemical Engineers, London).
LANG, H. J. (1948) Chem. Eng., NY 55 (June) 112. Simplified approach to preliminary cost estimates.
LYDA, T. B. (1972) Chem. Eng., NY 79 (Sept. 18th) 182. How much working capital will the new project need?
PAGE, J. S. (1984) Conceptual Cost Estimating (Gulf).
PETERS,M. S., TIMMERHAUS,K. D.and WEST, R. E. (2003) Plant Design and Economics, 5th edn (McGraw-
Hill).
PIKULIK,A. and DIAZ, H. E. (1977) Chem. Eng., NY 84 (Oct. 10th) 106. Cost estimating for major process
equipment.
PUROHIT, G. P. (1983) Chem. Eng., NY 90 (Aug. 22nd) 56. Estimating the cost of heat exchangers.
SCOTT, R. (1978) Eng. and Proc. Econ., 3 105. Working capital and its estimation for project evaluation.
TAYLOR, J. H. (1977) Eng. and Proc. Econ. 2, 259. The process step scoring method for making quick capital
estimates.
ULRICH, G. D. (1984) A Guide to Chemical Engineering Process Design and Economics (Wiley).
VALLE-RIESTRA, J. F. (1983) Project Evaluation in the Chemical Process Industries (McGraw-Hill).
WESSEL, H. E. (1952) Chem. Eng., NY 59 (July) 209. New graph correlates operating labor data for chemical
processes.
WILSON, G. T. (1971) Brit. Chem. Eng. 16 931. Capital investment for chemical plant.

6.13. NOMENCLATURE

Dimensions
in MT £ or $
A Year in which cost is known (equation 6.1) T
B Year in which cost is to be estimated (equation 6.1) T
C Cost constant in equation 6.7 Ł
Ce Purchased equipment cost £ or $
Cf Fixed capital cost £ or $
C 1 Capital cost of plant 1 £ or $
C 2 Capital cost of plant 2 £ or $
f L Lang factors (equation 6.3)
f 1 ... f 9 Capital cost factors (Table 6.1)
N Number of significant processing steps
n Capital cost index in equation 6.4
Q Plant capacity MT 1
S Equipment size unit in equation 6.4 Ł