Feasibility Study for Production of Anhydrous Alcohol from Corn

摘要

The feasibility of establishing a facility to produce fuel grade alcohol from corn to be located within an existing soybean processing plant in Mexico, Missouri has been studied. The alcohol producing industries, technical literature, various available process technologies, and industry consultants were surveyed. A process consisting of dry milling corn, continuous cooking, batch fermentation and azeotropic distillation was selected as the most suitable technique for the MFA's venture. It was determined that a production rate of 6288 bushels of corn per day yielding 5,200,000 gallons per year of fuel grade ethanol plus the capability to up grade an additional 500,000 gallons per year of low grade alcohol from off-site production facilities was the best design for the space and facilities available within the existing Mexico, Missouri soybean plant while economically utilizing existing buildings and plant area to the best advantage. A factored estimate of expected capital costs for the gasohol demonstration plant was made based on surveys of the plant site and furnished plant drawings, approximate prices for major items of process equipment and estimated construction and erection costs. This cost, with a plus or minus 20% accuracy, was determined to be $8,852,000.00. Revenues were estimated based on the selling price of 200 proof fuel grade alcohol and distillers dried grains with solubles (DDGS). A number of cases were reviewed to demonstrate the sensitivity of plant operating income to various prices for corn, alcohol and DDGS and to assess the effect of inflation over the useful life of the plant. Based on the estimated plant cost and the various cases of operating income, an economic analysis was performed employing a profitability index criterion of discounted cash flow to determine an interest rate of return on the plant investment. (ERA citation 07:013961)