Real option framework for equipment wise expansion of modular plants applied to the design of a continuous multiproduct plant

摘要

As market demand forecasts will become more uncertain in the future it is necessary to develop new methods for plant design. New technologies allow combining the flexibility of a batch plant with the efficiency of a continuous production. To gain even more economic benefit intensified equipment is often designed as a module. The usage of equipment modules allows an easily and efficient increase of capacity. In this way a plant expansion close to the market is possible.