Conducted by BatStateU
, Started on 2017 -
Completed on 2017
Completed
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The possibility of producing materials, chemicals, and fuels from biomass has a long history. Agriculture around the world produces a great deal of waste as a byproduct, and it is increasingly realized that agricultural residues and wood waste can serve as raw materials for production of numerous industrial and non-food consumer products. One of the most common agricultural waste in the country comes from the corn industry, specifically corn cobs. PhilFural Inc. will utilize 70,000 kg of corn cobs per day. It is approximately 8.48% of the total corn cobs production in Cagayan Valley and will be producing 8153.73 kg/day of furfuryl alcohol. The plant will operate 24 hours a day. For a total of 320 working days, the plant will be producing 2,609,195.01 kg per year of furfuryl alcohol accounting to about 12.00% of the local market share of furfuryl alcohol. An increase in production level is expected to increase as feedstock increases or as the plant utilize other capacity increasing technologies. PhilFural Inc. will operate in the year of 2021 for a period of 20 years. To assure that the capital investments are valuable, the unit process must be reevaluated and refined as the operation grows and progresses. The plant will have a total investment of 600,397,613.23 pesos, 75% coming from the shareholders while the remaining 25% will be availed as a loan from a commercial bank having an interest of 15% amortized for ten years. The pricing of the raw materials was based on the current market. Financial studies of the design estimated a payback period of 4.12 years with a percentage Return on Investment (ROI) of 26%. Based on the consideration of the engineering socio – economic, technical and financial aspects of the design, the project is achievable, beneficial and profitable.