Abstract
Abstract This work proposes an optimization model for planning operations, capacity expansion,and other process retrofitting for a chemical process network considering uncertainties in products prices and demands, and also considering environmental impact. The formulated MILP is a bi-criterion problem such that the first objective function is to maximize the net present value (NPV) and the second objective function is to minimize the total environmental impact forthe chemical process network. Multiple scenarios are incorporated to account for uncertainties in products prices and demands. The bi-criterion problem is solved using the epsilon constraint method. The model is tested with an industrial scale chemical network to illustrate the advantages of using an integrated approach for this planning problem.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
