Computational model for a Belgian chemical engineering plant cost index

Most of the plant cost indices provided in literature are focussed on the US industries, nor are they immediately applicable for other countries. This paper describes how one of these indices can be used to develop a cost index for a non-US country. The method is illustrated developing a cost index for chemical process plants in Europe, more specifically in Belgium. The index obtained is tested thoroughly and compared with the well-known Chemical Engineering Plant Cost Index and with some European industrial cases. The paper also investigates the impact of the cost index on some management ratios currently used in a Belgian multinational company.