How do owners choose the technology for new chemical projects?
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How do owners choose the technology for new chemical projects? What indicators are used for evaluation and judgment?
Brief response (principles for determining technical solutions): 1. Advanced and practical – Being advanced is relative and depends on the time period and stage; however, it should at least represent the leading level in the industry and be the dominant technology in that field. Practicality means low technical risks and alignment with the actual conditions of the project. 2. Reliable and secure. 3. Experience in industrial applications – this is crucial; technologies that lack such industrial application experience are generally not considered in order to reduce investment risks. 4. There is no best technology; only the one that is most suitable for oneself.
1. Technological maturity 2. Cost-benefit of the technical approach 3. Technological advancement