Economic Evaluation and Techno-Economic Sensitivity Analysis of a Mass Integrated Shrimp Biorefinery in North Colombia
Antonio Zuorro, Kariana Andrea Moreno-Sader, Ángel Darío González-Delgado
Abstract
The high freshwater consumption requirements in shrimp biorefinery approaches represents one of the major drawbacks of implementing these technologies within the shrimp processing industry. This also affects the costs associated with the plant operation, and consequently, the overall economic performance of the project. The application of mass integration tools such as water pinch analysis can reduce frewshwater consumption by up to 80%, contributing to shrimp biorefinery sustainability. In this work, the economic evaluation and the techno-economic sensitivity analysis for a mass integrated approach for shrimp biorefinery were performed to determine the economic feasibility of the project when located in the North-Colombia region and to identify the critical techno-economic variables affecting the profitability of the process. The integrated approach designed to process 4113.09 tons of fresh shrimp in Colombia reaches a return on investment (%ROI) at 65.88% and a net present value (NPV) at 10.40 MM USD. The process supports decreases of up to 28% in capacity of production and increases of 12% and 11% in the cost of raw materials and variable operating costs without incurring losses, respectively. These findings suggest that the proposed design of the water recycling network coupled to a shrimp biorefinery approach is attractive from an economic point of view.