University Of Tasmania

File(s) under permanent embargo

Process design and probabilistic economic risk analysis of bio-diesel production

journal contribution
posted on 2023-05-19, 10:19 authored by Sajid, Z, Zhang, Y, Faisal KhanFaisal Khan
Process design and economic risk analysis were performed for a biodiesel production plant having an annual production capacity of 45,000 tonne of biodiesel using inedible Jatropha oil as the biomass feedstock. Five major economic factors associated with the cost were computed and analyzed. These included total capital investment, fixed cost, variable cost, annual operating cost and total cost. Probabilistic cost estimation was performed to analyze the variability in the cost data. Among all other cost elements, raw material cost was found to be the most significant variable affecting the economic viability of biodiesel production system. Probabilistic risk estimation showed that, even using the published cost data, the estimated total risk was 50% uncertain. The study also showed that by incorporating environmental benefits of biodiesel burning, the benefit to risk ratio increased.


Publication title

Sustainable Production and Consumption








Australian Maritime College


Elsevier B.V.

Place of publication

The Netherlands

Rights statement

Copyright 2015 The Institution of Chemical Engineers.

Repository Status

  • Restricted

Socio-economic Objectives

Biomass processing