PKT, as a petrochemical company with high potential hazards, prioritizes emergency preparedness and response by complying with regulations and standards. In addition to serving its own needs, PKT’s fire and rescue department also provides emergency services to four neighboring companies through an annual fee cooperation scheme. To enhance the emergency response services, PKT conducted an evaluation and identified the need for an additional fire truck unit with up-to-date technology. To determine the most suitable option, PKT is considering purchasing or renting the new fire truck units. A financial modeling analysis was conducted using income from health and safety services. The financial feasibility analysis, considering parameters such as NPV, IRR, and discounted payback period, resulted in a feasible outcome. The Purchase option exhibited better economic value, with a predicted NPV of Rp. 569,276,495, an IRR of 11.56% (higher than the discount rate of 10.5%), and a discounted payback period of 9.35 years. Sensitivity analysis, using tornado and spider charts, revealed that the annual fee from clients or joint venture companies had the most significant impact on the project’s financial performance, followed by manpower costs. A 20% increase in annual fees led to a significant increase in NPV Rp. 6,639,013,466, while a 20% decrease resulted in a significant decrease in NPV (−Rp. 5,500,460,477). Similarly, a 20% increase in manpower costs resulted in a decreased NPV of Rp. −3,500,609,667. Based on the sensitivity analysis, the two significant factors influencing the purchase option were identified as the annual fee and manpower cost. Recommendations that are also put forward for this study are identification to anticipate increases in labor costs and to keep manpower costs under control. The increase in manpower costs must be accompanied by an increase in income. Exploring opportunities to attract additional clients, particularly companies in the industrial complex that do not yet have an agreement with PKT, is also advised. By implementing these recommendations and ensuring cost control, PKT can optimize its emergency response services and maintain a financially viable operation.
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