Economic Analysis in Aspen HYSYS

[@drkaleemphd]

Dr. Zaman you elaborated effectively. Great help Thankyou very Much

[@uyendao816]

Thanks Dr. Sajid for the informative lesson 👏

[@suhelahmad373]

Great Work Dr Zaman, it helped alot. If possible please send me this Hsys file.

[@drzamansajid]

I am glad it helped. Sure, please email me, and I can reply with the attachment of the HYSYS file.

[@suniside2600]

Hello Dr. Zaman, thanks for this good example, I have one question though, how do you change the dollar rate to the current naira rate we use in Nigeria, also if the all products produced are calculated into the sales, what happens to the products that are flared which are not sold, would you also put a price for it, or you just zero price for it?

[@drzamansajid]

Thank you. Yes, you can use Naira. You need to know its conversion rate to the US dollars. Under Economics, click on Cost Option, then click on the Currency tab and enter the currency symbol and conversion factor. Doing this, all background calculations will be in US dollars, but the results will be displayed in Naira. I am unable to understand your second question. We do not produce anything waste. All products, including waste products, have some financial value. A waste or side product of your plant may be the actual raw material for some other products. I hope this helps.

[@tahirbashir4142]

Thank you very much, sir for this helpful video. But is there a similar video that treats Economic analyzer for Aspen plus sir as I need it for my design project. Thank you sir

[@dohaelrhoul3849]

Dear Dr.Zaman, Thank you for the video, it's very helpful. What should we do if an equipment does not exist in the APEA library? In my case, I am simulating an electrolysis process and I don't know how to include the electrolyzer in the economic alnalysis.

[@drzamansajid]

I am glad it is helpful. To answer your question, you can design equipment in HYSYS, choose a similar unit in the APEA library to the one you need, and provide an engineering design allowance of 10% (a recommended value for a new process in the APEA manual) design changes. If your process is unique and unproven, the engineering design allowance is 15%. Please read the APEA manual; if you do not have it or cannot find it, email me, and I will share it. I hope this helps.

[@dohaelrhoul3849]

@@drzamansajid Thank you 😊

[@dohaelrhoul3849]

​@@drzamansajid Dear Dr. Zaman, I got the following error "stress for shell material is zero " during the evaluation of some heat exchangers. How can we solve it please?

[@drzamansajid]

@@dohaelrhoul3849 Please email me your HYSYS file. I cannot comment or guide you until I see your simulation.

[@ragilpriyanto8793]

Thank you Dr. Sajid for the lecture. If I want to edit the excell spreadsheet (in this case i want to add some project cost componen e.g. offsite facilities CAPEX or add VAT), will the result generate automatically ( in this case for NPV, IRR)? I assume that excell spreadsheets are linked function.

[@drzamansajid]

Yes, Excel spreadsheets are linked, but please ensure you have the right formula and use the correct cell for your data editing. Good Luck!

[@syedejazhaider2996]

Hi, thanks for your video. normally a stream contains multiple components (reactor effluent), how to define price of each component in that case as aspen offers to define stream price only!

[@drzamansajid]

You cannot define the prices of each component in a stream due to obvious reasons. What I would do is compute process economics based on each individual component. That way, you can see which component has the highest/lowest associated cost.

[@syedejazhaider2996]

@@drzamansajid Thanks for your reply. How to compute economics based on individual components? I put a component separator at the reactor downstream which separates all the components in multiple streams. Then I calculated the cost of each stream which is basically the component cost. Is this the correct way or is there any better way to calculate the component costs? Thanks

[@drzamansajid]

@@syedejazhaider2996 Interestinng point. Please email me, and we will meet on Zoom and discuss.

[@ignacio1853]

"ERROR> 'HE - 6' THICKNESS CALCULATED EXCEEDS 25 PCT OF PORT DIAMETER Thickness CALC: 6.250 INCHES" , ERROR> 'GC - 2' INLET TEMPERATURE IS OUT OF RANGE , how can i fix this errors?

[@drzamansajid]

Your questions have their answers in them. Please read your questions and you will find how to fix them.

[@nazarbekmukhamed1125]

Can you, please, explain if it is possible to change the plant location? Even if you choose different template (Chinese/EU metric), it gives Plant Location: North America.

[@drzamansajid]

Yes, you can change plant location.

[@nazarbekmukhamed1125]

@@drzamansajid Can you, please, say, how it can be done?

[@drzamansajid]

@@nazarbekmukhamed1125 I do not have HYSYS with me at the moment, so I cannot show you. Please watch my video on HYSYS trouble shooting; it will give you an idea.

[@ayauwuloveday7294]

Very good