Detailed Feasibility Report and its Preparation in Steel Sector...

Detailed Feasibility Report and its Preparation in Steel Sector A feasibility study aims to objectively and rationally uncover the strengths and weaknesses of a proposed project, opportunities and threats present in the environment, the resources needed to carry through, and ultimately the prospects for success. In its simplest terms, the two criteria to judge feasibility are cost needed and the value to be attained. A well-designed feasibility study provides a background for the project, a description of the project, accounting statements, technical details, and financial data. Generally, feasibility study includes technical development and project implementation. It evaluates the project’s potential for success and hence, perceived objectivity is an important factor in the credibility of the feasibility study for potential investors and lending institutions. It is necessary, therefore, that the feasibility study is conducted with an objective, unbiased approach to provide information upon which decisions can be based. Feasibility report is a base document for a steel project for the decision making with respect to investment in the project. Depending of the stage of the project, when the feasibility report is made, it is known as pre-feasibility report (PFR), feasibility report (FR), or detailed feasibility report (DFR). It is obvious that DFR is more accurate than FR both in technical aspect or financial analysis aspect. PFR study is a preliminary study undertaken to determine, analyze, and select the best alternative among several alternatives, both technically and financially. It is difficult and it takes time if each of the alternatives is studied deeply. Hence, shortcut method deems acceptable in the early stage is used to determine minor components of investment and production cost. If the selected alternative is considered feasible, then normally the study at the FR or DFR is taken up to get deeper analysis of the selected project scenario. Technically...

Project Monitoring

Project Monitoring Project monitoring is an integral part of the project management. It provides understanding of the progress of the project so that appropriate corrective actions can be taken when the performance deviates significantly from the planned path. It consists of regular systematic collection and analysis of information to track the progress of the project implementation against pre-set targets and objectives. It is an important management tool which, if used properly, provides continuous feedback on the project implementation progress as well assists in the identification of potential successes and constraints to facilitate timely decisions. Effective monitoring of the project is a critical element of good project management. It supports informed and timely decision making by the management and provides accountability for achieving results. It is a key part of project cycle management. It is to be built into the project at the planning stage. It is not an ‘add on’ tool which can be used during mid-way of the project implementation. On the other hand, it is to be woven throughout the project. Project monitoring clarifies project objectives, links activities and their resources to objectives, translates objectives into performance indicators and sets targets, routinely collects data on these indicators, compares actual results with targets, and reports progress to the management and alerts the management about the problems which frequently gets cropped up during the implementation of the project. It provides information to the management whether the project is proceeding as per schedule relative to the targets or there is time over run in the project implementation. It also focuses, in particular, on the efficiency and the use of resources during the project implementation. It provides support to the management in its efforts to complete the project in time and within the budget. Project monitoring...

Romelt Process for Ironmaking Mar20

Romelt Process for Ironmaking...

Romelt Process for Ironmaking Romelt process for ironmaking is a smelting reduction process for the production of hot metal (liquid iron). The process has been developed by The National University of Science & Technology ‘MISiS’, Russia (formerly known as Moscow Institute of Steel and Alloys). The development work of the process started in 1978 when a group of ‘MISiS’ scientists led by Vladimir Roments began working on designing of this process. The first patent in Russia was obtained in 1979. A pilot production plant having a hearth area of 20 sq m and with a capacity 40,000 tons of hot metal per year was commissioned in 1985 at the Novolipetsk Iron and Steel Works (NLMK). The pilot plant was designed by Moscow Gipromez. The design of the reliable Vanyukov’s furnace was taken as the prototype for this new method of manufacturing hot metal. The process was tested and mastered at this pilot plant between 1985 and 1998. During this period forty-one campaigns were carried out, each of which included startup and slowdown, with full tapping of hot metal and slag from the furnace. More than 40,000 tons of hot metal was produced in the pilot plant during this period and used further in basic oxygen furnace (BOF) for steelmaking. The first industrial plant for hot metal production based on Romelt technology is being built at Myanmar. The plant has been designed by Leningrad Gipromez and being supplied by Tyazpromexport, a subsidiary of Rostec. This plant has a capacity of 200,000 tons per year and is based on the processing of iron ore without its beneficiation from Pang Pet ore deposit. Pang Pet ore deposits have Fe content of up to 29 %. The plant will use non-coking coal from Kye Thee coal fields. The...

Technical Drawings and their Types...

Technical Drawings and their Types Technical drawings are also known as ‘engineering drawings’. They are means of communications and convey technical information of plant and equipment. They describe three-dimensional objects through the medium of two-dimensional paper. The process of producing technical drawings, and the skill of producing those, is often referred to as ‘drafting’. Technical drawing is normally accepted as legal document and is frequently being used for regulatory approvals. Technical drawings are most frequently used to establish engineering requirements. They describe typical applications and minimum content requirements. They are standardized tools of graphical language which avoid verbal exchanges. They are used and understood by the technical personnel speaking different languages and belonging to different countries and cultures. Technical drawings are prepared in such a way that they convey complete information of the plant and equipment clearly and concisely. They often contain more than just a graphic representation of the subject. They also contain dimensions, notes and specifications. Clarity is the essential aspect of the technical drawings. They normally represent two dimension view of the object though some drawings also provide three dimensional views. They are prepared either manually or with the aid of computer. They are generally prepared or printed in standard size of paper. Except a few category of drawings (e.g. process flow diagrams, control diagrams, piping and instruments diagrams, and single line diagrams etc.), all the drawings are normally prepared in plan and different section views usually to the scale in order to provide complete information of the drawing object. Often help of standardized symbols are taken in the drawing for depicting certain equipments or instruments. Those informations which cannot be given in the plan and sections view such as material specification, tolerances, and bill of materials etc. are normally given in a...

Cost Benefit Analysis...

Cost Benefit Analysis Cost benefit analysis (CBA) is a tool which is used for the determination of the worth of a project, programme or policy. Its principles and practice are well established and widely used. Organizational management normally uses this tool to appraise a project before taking an investment decision. The decision to conduct a CBA for the project alternatives and the manner in which it is to be conducted is usually taken since it helps the management in making judgments and appraising available options. CBA is a systematic approach for the estimation of the strengths and weaknesses of alternatives and is used to determine options which provide the best approach to achieve benefits from the project. It is the comparison of costs and benefits of the project to decide whether it can be undertaken. In CBA both the tangible and intangible costs as well as tangible and intangible benefits are considered. CBA is a term that refers both to (i) a formal discipline used to help appraise, or assess, the case for a project, which itself is a process known as project appraisal, and (ii) an informal approach to making decisions. Under both definitions the process involves, whether explicitly or implicitly, weighing the total expected costs against the total expected benefits of the project or its alternatives in order to choose the best option. The idea of this economic accounting originated with Jules Dupuit, a French engineer whose 1848 article is still worth reading. The British economist, Alfred Marshall, formulated some of the formal concepts which are at the foundation of CBA. But the practical development of CBA came in 1936 when the regulatory act required US Corps of Engineers to take up only those projects for the improvement of the waterway system...