Table 3.

Equations decsribing the economic parameters [30].

$$CAPEX=\sum Purchasedequipment+Equipmentsetting+Piping+Civil+Steel+Instrumentation+Electrical+Insulation+Paint+Contractfees+Generalandadministrativeoverheads+Contingencies$$ (7)

$$Workingcapital=\frac{5\%ofCAPEX}{lifetime}$$ (8)

$$OPEX=\sum Feedstocks+Operatingcharges+Labourcharges+maintenancecost+Plantoverhead+Generalandadmistrativeoverheads$$ (9)

$$Subtotaloperatingexpenses=\sum Operatingcharges+Labourcharges+maintenancecost+Plantoverhead$$ (10)

$$Labourcharges=\left(OperatorspershiftXOperatorcharges\right)+\left(supervisorspershiftXSupervisorcharges\right)$$ (11)

$$Operatingcharges=\frac{25\%oflabourcharges}{Period}$$ (12)

$$Plantoverhead=\frac{50\%oflabourchargesandmaintenance}{Period}$$ (13)

$$Generalandadministrativecost=\frac{8\%ofsubtotaloperatingcost}{Period}$$ (14)

$$Returnoninvestment(\%)=\frac{Netprofit}{CAPEX}$$ (15)

$$Paybackperiod\left(years\right)=\frac{CAPEX}{Cashinflow}$$ (16)

$$Minimumsellingprice\left(\frac{USD}{kg}\right)=\frac{CAPEX+\sum _1^{lifespan}{(Opex\left(1+DiscountRate\right)}^{-lifespan})}{\sum _1^{lifespan}{(fuelyield\left(1+DiscountRate\right)}^{-lifespan})}$$ (17)

$${Cost}_{design}={Cost}_{base}\bullet {\left(\frac{{Capacity}_{design}}{{Capacity}_{base}}\right)}^{scalingfactor}\bullet Installingfactor$$ (18)

$${Cost}_{design,{USD}_{2019}}={Cost}_{design,{USD}_i}\bullet \left(\frac{{CEPCI}_{2019}}{{CEPCI}_i}\right)$$ (19)