Documentos de Académico
Documentos de Profesional
Documentos de Cultura
Report Assignment 5
GROUP 23
GROUP PERSONNEL:
AHMAD HAMIDI (1306446370)
ASTRINI PRADYASTI (1306370404)
CHAIRANI SHAFIRA U. (1306370732)
IMAM TAUFIQ R. (1306370612)
MARIA ULFA (1306370625)
RADEN RIDZKI ADITYA (1306370530)
ii Universitas Indonesia
history data that we got from ITM Power. We can project hydrogen price in 2020
by making a graph and find its trend line. Based on the graph, we got hydrogen
price in 2020 is $ 7.64. Because oxygen is also a commodity product, we will
determine oxygen price by benchmarking with the market and project the price to
the year when we are ready to begin our production. We got oxygen price in 2020
is $7.33.
MARR is the minimum rate of return of a project a company is willing to
accept before starting the project, given its risk and the opportunity cost of
forgoing other projects. The value of MARR is 7.2%. On the first year of cash
flow, we do not have any capital, so in order to start the business, we need to loan
from institution like bank. We need at least $ 47,933,574 for our first capital. we
do some research about loan system in Indonesia called Cash Collateral. We
chose Bank Mandiri with interest rate is 2% higher than mortgage interest rate.
For the design of this plant, we will be used 65% equity loan from bank and 35%
from investor.
Rate of Investment (ROI) is the annual profit generated by one unit of
capital invested. The ROI obtained from this plant is 25.40%. From the ROI
calculation, we can see that our plant is attractive to investor because it has rate of
investment value that is high than WACC. Payback Period is the duration (in
year) of an investment will be returned. Payback Period can also be seen from the
plot of graph between the net profit by the time (year), so we can obtain the
payback period for this plant is 6.78years.
Internal Rate of Return (IRR) is a measure of the maximum interest rate
paid on a project and still break even at the end of the project life. We obtain IRR
of 15.86% from our power-to-gas plant. If we compare the IRR with MARR
(15.86% (IRR) > 7.2% (MARR)), the difference is quite high (8.69%). This
means that our plant is attractive to investor.
Net Present Value (NPV) shows the net benefit received by a project over
the life of the project at a certain interest rate. A project can be counted as feasible
if the NPV>0, which means that the project is profitable. By MARR 7.2%, we
obtained NPV $49,294,031.
iv Universitas Indonesia
v
v Universitas Indonesia
LIST OF FIGURE
Figure 1.1 Chemical Engineering Plant Cost Index (CEPCI) Graphic ................... 2
Figure 1.2 Graph for calculating separator FOB cost ............................................. 6
Figure 1.3 Direct Cost Breakdown........................................................................ 19
Figure 1.4 Indirect Cost Breakdown ..................................................................... 20
Figure 1.5 Capital Cost Breakdown ...................................................................... 20
Figure 2.1 Cost Breakdown................................................................................... 34
Figure 3.1 Hydrogen Price .................................................................................... 36
Figure 3.2 Oxygen Price ....................................................................................... 37
Figure 3.3 Before and After Tax Cash Flow ......................................................... 42
Figure 3.4 Payback Period .................................................................................... 44
vi Universitas Indonesia
vii
LIST OF TABLE
1 Universitas Indonesia
2
700
y = 15.095x - 29780
600
500
400
300
200
100
0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
By extrapolating the data and graphic, we can get a cost index value of
711.9 on 2020, as stated in Table 1.2 .
Table 1.2 Chemical Engineerings Plant Cost Index Projection
Year CEPCI
2013 606.2
2014 621.3
2015 636.4
2016 651.5
2017 666.6
2018 681.7
2019 696.8
2020 711.9
This projection of Chemical Engineerings Plant Cost Index will be used for
the equipment cost prediction because the equipment will be purchased in 2020.
In estimating equipment cost, we use index value to estimating price at present
time, the equation is:
= ( )
Universitas Indonesia
3
b. Pump
To calculate the pump cost, the formula that will be using is below
(Seider, 2003).
= ()0.5
= exp[9.2951 0.6019[ln()] + 0.0519[ln()]2 ]
=
Universitas Indonesia
4
Where S is the size factor, Q is the flow rate in gpm, H is the pump head in
feet, FM is a material and FT is pump-type factor. The cost is:
Table 1.4 Purchase Equipment Cost For Pump
Total Price Total Price
Pump Quantity Price/Unit
(IDR) ($)
P-101 1 58,850,000 58,850,000 4,527
P-102 1 49,780,000 49,780,000 3,829
P-103 1 43,590,000 43,590,000 3,353
P-104 1 22,840,000 22,840,000 1,757
P-105 1 22,860,000 22,860,000 1,758
P-106 1 24,290,000 24,290,000 1,868
P-107 1 45,060,000 45,060,000 3,466
P-108 1 53,140,000 53,140,000 4,088
Total 320,410,000 24,647
(source: Seider, 2003)
c. Compressor
In our plant there are 2 compressor. The equation for tank process is shown
below,
= exp{7.2223 + (0.8[()]}
=
Where:
PC = Power (hp)
FM = Compressor Material (SS =2.5)
FD = Compressor type
The cost is:
Table 1.5 Purchase Equipment Cost For Compressor
Tank Quantity Price/Unit Total Price Total Price
(IDR) ($)
C-101 1 621,610,000 621,610,000 51,801
C-102 1 982,200,000 982,200,000 81,850
Total 1,603,810,000 133,651
(source: Seider, 2003)
d. Heat Exchanger
To calculate the purchased cost of this equipment, the formula is
below (Seider, 2003).
= exp{11.967 0.8709[ln(A)] + 0.09005[ln(A)]2 }
Universitas Indonesia
5
= + ( )
100
2
= 0.9803 + 0.018 ( ) + 0.0017 ( )
100 100
=
Where A is the tube outside surface area in ft2, FM is material factor with a
and b value is according to the material, FL is tube length correction and
FP is the pressure factor. The cost is:
Table 1.6 Purchase Equipment Cost For Heat Exchanger
Tank Quantity Price/Unit Total Price Total Price
(IDR) ($)
E-101 1 461,720,000 461,720,000 38,477
E-102 1 783,510,000 783,510,000 65,293
E-103 1 693,200,000 693,200,000 57,767
E-104 1 475,010,000 475,010,000 39,584
E-105 1 238,190,000 238,190,000 19,849
Total 2,651,630,000 220,969
(source: Seider, 2003)
e. Separator
We also use SSL book (2003) for calculating separator Purchaseds Cost.
For separators purchased cost is based from diameter, height, material factor. So
that by using all of that factor we can calculate the price from the graph as below
Universitas Indonesia
6
Universitas Indonesia
7
Universitas Indonesia
8
B Pump
1 P-101 1 58,850,000 58,850,000 2000 394 3.47 368,980,000 28,383
2 P-102 1 49,780,000 49,780,000 2000 394 3.47 312,110,000 24,008
3 P-103 1 43,590,000 43,590,000 2000 394 3.47 273,300,000 21,023
4 P-104 1 22,840,000 22,840,000 2000 394 3.47 143,210,000 11,016
5 P-105 1 22,860,000 22,860,000 2000 394 3.47 143,330,000 11,025
6 P-106 1 24,290,000 24,290,000 2000 394 3.47 152,300,000 11,715
7 P-107 1 45,060,000 45,060,000 2000 394 3.47 282,520,000 21,732
8 P-108 1 53,140,000 53,140,000 2000 394 3.47 333,180,000 25,629
C Compressor
1 C-101 1 621,610,000 621,610,000 2000 444.2 3.24 3,227,780,000 248,291
2 C-102 1 982,200,000 982,200,000 2000 394 3.24 5,750,000,000 442,308
Universitas Indonesia
9
E SEPARATOR
1 V-102 1 24,000,000 24,000,000 2004 448 4.15 158,280,000 12,175
F Electrolyzer
1 T-101 1 20,700,000,000 20,700,000,000 2010 550.8 1 26,754,420,000 2,058,032
G PLTS
1 Solar pv modul 30114 4,350,000 130,995,900,000 2020 711,9 1 130,995,900,000 10,076,608
2 Solar surge 1883 15,936,000 30,007,488,000 2020 711,9 1 30,007,488,000 2,308,268
controller
3 Baterries bank 3480 30,960,000 107,740,800,000 2020 711,9 1 107,740,800,000 8,287,754
4 Inverter 1 40200000 40,200,000 2020 711,9 1 40,200,000 3,092
Universitas Indonesia
10
Universitas Indonesia
11
In addition to the site development, we also consider the land cost of our
plant. In Bontang the land cost is IDR 150,000,- every m2 .The total area we need
for our plant is 10 hectare.
Table 1.15 Land Cost
Type Price/Unit Quantity Total Price Total Price
(IDR/m2) (m2) (IDR) (US$)
Land 115,000 100,000 11,500,000,000 884,620
Universitas Indonesia
12
Maintenance 300
230.8 69,240
Clinic 100 230.8 23,080
Mosque 100 230.8 23,080
Canteen 100 230.8 23,080
Parking Lot 500 10.5 5250
Fire Station 150 230.8 34,620
Truck Parking Area 500 10.5 5,250
Garden 1,300 10.5 13,650
Production Room 2000 230.8 461,600
Total 843,490
Universitas Indonesia
13
Price/unit
No Supporting Equipment Quantity Price ($)
($)
1 Computers 5 167 833
2 Facsimiles machine 2 80 159
Photocopy, scanner, and
3 2 833 1,667
printer machine
4 Office stationary 1 167 167
5 Clock 5 2 8
6 Table 6 33 200
7 Chair 12 21 250
8 Filling cabinet 1 100 100
9 Laboratory set 1 500 500
10 Sofa 5 100 500
11 CCTV 4 49 194
12 Meeting room set 2 125 250
13 White board 7 38 263
14 Pantry utensils 3 250 750
15 Dispenser 3 11 33
16 PPE 1 292 292
17 Neon lamps 17 3 43
18 Recycle bin 3 3 8
19 Air conditioner 1 PK 6 333 2,000
20 Telephone 3 17 50
21 Television 5 92 458
Total 8,724
Universitas Indonesia
14
Supervision
Total 2,155,014
Universitas Indonesia
15
Total 3,729,065
Total 745,813
Universitas Indonesia
16
Additional cost consist of royalties cost, plant startup cost, distribution cost
and others. Estimate royalties cost is equal to 2% of CTDC and plant startup cost is
equal to 10% of CTDC.
Table 1.25 Royalties Cost
Component Cost (US$)
Royalties Cost 725,227
Total 725,227
Universitas Indonesia
17
Total 7,170,613
Universitas Indonesia
18
Universitas Indonesia
1.14. Cost Breakdown
Capital cost breakdown consisted of direct cost breakdown, indirect cost
breakdown, total capital cost breakdown. The direct cost breakdown is shown in
Figure 1.3
4.39% 3.16%
0.09% 0.06%
Total Bare-Module Cost
Cost of Bulk Material
Site Development Cost
Building Cost
Offsite Facilities Cost
92.29%
As we can see in Figure 1.3, the major component that have high
contribution in direct cost is total bare module cost which is the equipment cost
following by the site development cost. Because we are power to gas plant which
uses photovoltaic cell as the energy source, we need an area of 10 ha to build our
plant, where 9 ha of it is for PV cell and 1 ha for plant building. Because of that,
the total bare modul of our plant is significantly high compare to other cost due to
its expenxsive equipments cost.
19 Universitas Indonesia
8%
23%
Engineering and Supervision
Construction Expenses
As we can see in Figure 1.4, the major component that have high
contribution in indirect cost is the contingencies and construction expenses.
Because there might be error in design calculation that should be added to the
capital cost. The capital cost breakdown is shown in Figure 1.5 below
15%
Totac Direct Cost
9%
Total Indirect Cost
As we can see in Figure 1.5 , the major component that have high
contribution in capital cost is direct cost because equipment cost is really
expensive to invest.
20 Universitas Indonesia
BAB II
OPERATING COST
21 Universitas Indonesia
22
Universitas Indonesia
23
Universitas Indonesia
24
Universitas Indonesia
25
Universitas Indonesia
26
Universitas Indonesia
27
Universitas Indonesia
28
Universitas Indonesia
29
Universitas Indonesia
30
Universitas Indonesia
31
Universitas Indonesia
32
b. Distribution cost
From assignment 1, we have decided that our plant will supply nationwide demand. The distribution means will use FedEx with
Bulker ship where the cost estimation is listed below
Table 2.12 Distribution Cost
Distance Cost Driver Cost Cost Cost
Product Route Capacity
(km) (USD/km) (USD) (USD/week) (USD/year)
Pontianak
Hydrogen Pelabuhan 5208 kg/week 23.40 0.09 15.04 17.15 823.15
Pontianak
Pontianak (Jl.
Pembaruan
Oxygen 5904 kg/day 24.8 0.09 15.04 120.93 5,804.46
Jl. Putri Dara
Hitam)
Total 6,627.61
Universitas Indonesia
33
Universitas Indonesia
34
Utility Direct and Indirect Salary Fixed Cost Distribution Cost Other Cost
15.63%
45.83% 13.72%
24.63%
0.19%
Figure 2.1 Cost Breakdown
From the cost breakdown above, we can see that the variable are most
widely affected operational cost is other cost with 45.83% The second biggest
variable is fixed cost with 24.63%. The third biggest variable is utility with
15.63%. The other cost consist of patent royalty, CSR, and R&D. R&D calculated
by 1% of TCI, patent royalty and CSR calculated by 2& and 5% of revenue,it is
affected the value of our operational cost.
Universitas Indonesia
CHAPTER 3
PROFITABILITY ANALYSIS
From the data above, we can project hydrogen price in 2020 by making a
graph and it is shown in Figure 3.1. Based on the graph, hydrogen price in 2020
will be $ 7.64.
35 Universitas Indonesia
36
12.00
10.00
6.00
4.00
2.00
0.00
2010 2012 2014 2016 2018 2020 2022 2024 2026
Year
From the data above, we can project oxygen price in 2020 by making a
graph and trend line. It is shown in Figure 3.2. Based on the graph, oxygen price
in 2020 will be $ 7.33.
Universitas Indonesia
37
7.00
6.00
y = 0.4x - 800.67
4.00
3.00
2.00
1.00
0.00
2014 2014 2015 2015 2016 2016 2017
Year
Value of risk free rate in Indonesia based on Market Risk Premia is 7.26%
and value of risk premium is 2.15%. Beta value for green and renewable energy is
1.62. With these values, we can calculate equity rate which is 10.74%.
Equity Rate = 7.26% + (2.15% 1.62) = 10.7%
We will use only 1 bank for loan using system called Cash Collateral in Bank
Mandiri. With this system, we can loan in bank with maximum 90% TCI. But, to
have WACC higher than bank interest rate, we will only use 65% bank loan.
Universitas Indonesia
38
This WACC or MARR should be higher than deposit rate of the bank. The
reason is that we have to ensure the investor that they will get more profit to
invest their money to our plant than save their money in bank. The value of
WACC or MARR is 7.2% which will be used to determine the NPV (Net Present
Value).
3.2.1 Equity
On the first year of cash flow, we do not have any capital, so in order to
start the business, we need to loan from institution like bank. We need at least $
47,933,574 for our first capital. In building a plant, the most important factor that
will be reviewed is whether the plant is profitable or not. Owners can invest a
whole, but it will be very risky if something happens when the plant is still in the
active period. To reduce risk, we do some research about loan system in Indonesia
called Cash Collateral. We chose Bank Mandiri with interest rate is 2% higher
than mortgage interest rate. Mortgage interest rate for foreign exchange is in range
of 3.5-6.5%. We took the median number which is 5%, so interest rate in Bank
Mandiri is 7%. The higher the interest, investors will be more interested in
investing, but investors are constrained by the interest rate bank loan. However,
for the design of this plant, we will be used 65% equity loan from bank and 35%
from investor. So the cost per year can be counted and can be seen in tables
below.
Table 3.3 Bank Mandiri Equity
Year Bank Loan ($) Annual Loan Paid ($) Loan Paid with
Interest ($) Interest ($)
0 31,156,824 0 0 0
1 31,156,824 2,180,978 3,894,603 6,075,581
2 27,262,221 1,908,355 3,894,603 5,802,958
3 23,367,618 1,635,733 3,894,603 5,530,336
4 19,473,015 1,363,111 3,894,603 5,257,714
5 15,578,412 1,090,489 3,894,603 4,985,092
Universitas Indonesia
39
Universitas Indonesia
40
3.2.2 Depreciation
Depreciation is the reduction in value of an asset. The method used to
depreciation an asset is a way to account the decreasing value of the asset to the
owner and to represent the diminishing value of capital funds invented in it.
Salvage value is the estimated trade-in or market value at the end of the assets
useful life. The salvage value (S) expressed as an estimated amount or as a
percentage of the first cost, may be positive, zero, or negative due to dismantling
and carry-away cost. The equation used to calculate depreciation is declining
balance method.
= (1 )
= 1 (1 )1
where dmax is maximum depreciation ratio, dt is depreciation rate for t-year, BVt is
book value for t-year, and t is year of depreciation.
Universitas Indonesia
41
Universitas Indonesia
42
20,000,000
10,000,000
0
0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30
Cash Flow ($)
-10,000,000
-40,000,000
-50,000,000
-60,000,000
Year
For after tax cash flow, this cash flow is calculated with tax. The income
tax we assumed is 25% after depreciation. Because it is after tax, the cash flow
will have the lower cumulative income, this after tax cash flow is used for
calculating the profitability analysis, such as ROI, IRR, BEP, and Payback Period.
Universitas Indonesia
43
Universitas Indonesia
44
250,000,000
200,000,000
100,000,000
50,000,000
0
0 5 10 15 20 25 30 35
-50,000,000
-100,000,000
Year
Universitas Indonesia
45
with the value of i is the IRR. Calculating cash flow, we obtain IRR of 15.86%
from our power-to-gas plant. If we compare the IRR with MARR (15.86% (IRR)
> 7.2% (MARR)), the difference is quite high (8.69%). This means that our plant
is attractive to investor.
Universitas Indonesia
46
From the table above, we can see that if we change price of hydrogen until
$3/kg the result show that we still can get NPV>0.
Universitas Indonesia
47
Based on the table above, we can see that even if we decrease PV cost
until its reach 100%, which is mean theres no PV plant and well use electricity,
the NPV we obtained is still minus (-4,943,606 and payback period 14.91 years.
Universitas Indonesia
48
IRR becomes higher. While photovoltaic plant and equipment cost have inversely
proportional correlation with IRR, when photovoltaic power plant and equipment
cost decreases, the percentage IRR obtained is higher. Figure 3.4 shows sensitivity
graph of IRR for hydrogen price, photovoltaic plant and equipment cost.
4.50%
4.00%
3.50%
3.00%
1.00%
0.50%
0.00%
-60 -40 -20 0 20 40
The graphic shows that the decreases cost of PV Plant has higher raise to
IRR. The increases of Hydrogen for about 5% have higher value while the
increases of PV Plant and equipment has close IRR value.
b. NPV Sensitivity Analysis
The change of price can give an impact for NPV. NPV and price of hydrogen
are directly proportional, when the price of hydrogen higher, the NPV becomes
higher. While photovoltaic plant and equipment cost have inversely proportional
correlation with NPV, when photovoltaic power plant and equipment cost
decreases, the percentage NPV obtained is higher. Figure 3.5 shows sensitivity
graph of NPV for hydrogen price, photovoltaic plant and equipment cost.
Universitas Indonesia
49
0
-60 -40 -20 0 20 40
-5,000,000
-10,000,000
-15,000,000
NPV Hydrogen
-20,000,000
NPV PV Plant
-25,000,000
NPV Equipment
-30,000,000
-35,000,000
-40,000,000
-45,000,000
The graphic shows that the decreases cost of PV Plant has higher raise to
NPV, but the value of NPV still negative. The increases of Hydrogen price raise
the value of NPV, but still require a major increase to generate a positive NPV.
Universitas Indonesia
50
30.00
25.00
20.00
PP Hydrogen
15.00
PP PV Plant
10.00 PP Equipment
5.00
0.00
-60 -40 -20 0 20 40
d. Strategy
The sensitivity analysis shows that the change in price up to 100% still has
negative NPV value. This shows that based on economic analysis principle, the
project is not eligible to run, because the project is not economically viable. But in
terms of interests, our factory can provide the solution of non-renewable energy.
Fossil fuels are the dominant source of electrical energy, while fossil fuel is a
major contributor to greenhouse gases and contribute to global warming. In
UNFC Climate Change, Indonesia set a target of achieving a 29% reduction in
emissions by 2030 and at least 23% of energy coming from renewable sources by
2025. So the use of solar has an important role as a renewable energy.
In addition, the manufacture of hydrogen is currently using natural gas,
which when viewed in the long term, these resources are non-renewable natural
resources that will be depleted over time so that other alternatives needed to
produce hydrogen. Therefore, our factory provides solutions to these problems
Universitas Indonesia
51
where the system uses renewable energy from solar and produces hydrogen as a
product.
Based on these considerations, to run our factories, full support from the
government is needed. The plant has a public benefit in the long term, so this
plant should be a government project in the framework of new renewable energy
and energy conservation.
Universitas Indonesia
CHAPTER 4
CONCLUSION
In this section we will conclude all of the report for economic analysis of
our plant, we have done some research towards capital investment, operating cost,
utility, marketing cost and distribution cost.
From the information that weve been processed, we can conclude :
1. The capital investment (CAPEX) for our product is $ 47,933,575.
Meanwhile, operating cost consists of manufacturing cost and general
expenses. The total operating cost (OPEX) in our project is $2,242,896
2. The price of hydrogen is US$ 6.55/kg and price of oxygen is US$ 3.00/kg.
3. ROI for our company is 38.62%.
4. The payback period of our company is 25.64 year.
5. The BEP of our company are 6,130 ton hydrogen and 48,569 ton oxygen.
6. IRR of our company 1.27%. NPV, or Net Present value of our product
with MARR 10.8% the calculation result is -$38,646,075.
52 Universitas Indonesia
REFERENCE
53 Universitas Indonesia
APPENDIX
Depreciation
Main Equipment Depreciation (Year 1-5)
Equipment Qty Initial Year 1 Year 2 Year 3 Year 4 Year 5
Value ($) Depreciation SV Depreciation SV Depreciation SV Depreciation SV Depreciation SV
S-101 1 30,849 3,085 27,764 2,776 24,988 2,499 22,489 2,249 20,240 2,024 18,216
S-102 1 23,823 2,382 21,441 2,144 19,297 1,930 17,367 1,737 15,630 1,563 14,067
S-103 2 4,106 411 3,696 370 3,326 333 2,993 299 2,694 269 2,425
S-104 1 23,717 2,372 21,345 2,135 19,211 1,921 17,290 1,729 15,561 1,556 14,005
S-105 1 18,581 1,858 16,723 1,672 15,050 1,505 13,545 1,355 12,191 1,219 10,972
P-101 1 28,383 2,838 25,545 2,554 22,990 2,299 20,691 2,069 18,622 1,862 16,760
P-102 1 24,008 2,401 21,608 2,161 19,447 1,945 17,502 1,750 15,752 1,575 14,177
P-103 1 21,023 2,102 18,921 1,892 17,029 1,703 15,326 1,533 13,793 1,379 12,414
P-104 1 11,016 1,102 9,915 991 8,923 892 8,031 803 7,228 723 6,505
P-105 1 11,025 1,103 9,923 992 8,931 893 8,038 804 7,234 723 6,510
P-106 1 11,715 1,172 10,544 1,054 9,489 949 8,541 854 7,686 769 6,918
P-107 1 21,732 2,173 19,559 1,956 17,603 1,760 15,843 1,584 14,259 1,426 12,833
P-108 1 25,629 2,563 23,066 2,307 20,760 2,076 18,684 1,868 16,815 1,682 15,134
C-101 1 248,291 24,829 223,462 22,346 201,116 20,112 181,004 18,100 162,904 16,290 146,613
C-102 1 442,308 44,231 398,077 39,808 358,269 35,827 322,442 32,244 290,198 29,020 261,178
E-101 1 203,432 20,343 183,088 18,309 164,780 16,478 148,302 14,830 133,471 13,347 120,124
E-102 1 345,210 34,521 310,689 31,069 279,620 27,962 251,658 25,166 226,492 22,649 203,843
E-103 1 305,420 30,542 274,878 27,488 247,390 24,739 222,651 22,265 200,386 20,039 180,347
E-104 1 209,287 20,929 188,358 18,836 169,522 16,952 152,570 15,257 137,313 13,731 123,582
54 Universitas Indonesia
55
Universitas Indonesia
56
Universitas Indonesia
57
Universitas Indonesia
58
Universitas Indonesia
59
Universitas Indonesia
60
Universitas Indonesia
61
Universitas Indonesia
62
Universitas Indonesia
63
Universitas Indonesia
64
Universitas Indonesia
65
Universitas Indonesia
66
Universitas Indonesia
67
Universitas Indonesia
68
Universitas Indonesia
69
Universitas Indonesia
70
Universitas Indonesia
71
Universitas Indonesia
72
Universitas Indonesia
73
Garden 1 13,650 191 6,183 185 5,997 180 5,818 175 5,643 169 5,474
Production Room 1 461,600 6,467 209,089 6,273 202,816 6,084 196,732 5,902 190,830 5,725 185,105
Cash Flow
Hydrogen Hydrogen Oxygen Oxygen Cash All Net Profit Net Profit
Volume Price Volume Price Revenue Operating Maintenance Expenses Depreciation Expenses Gross Before After Tax
Year (kg/year) ($/kg) (kg/year) ($/year) ($) Cost ($) Cost ($) ($) ($) ($) Profit ($) Tax ($) ($)
- -
0 47,933,575 47,933,575
1 246,000 7.64 1,949,000 7.33 16,172,107 3,516,128 479,336 3,995,464 2,543,941 6,539,404 12,176,643 9,632,702 7,224,527
2 246,000 7.64 1,949,000 7.33 16,172,107 3,516,128 479,336 3,995,464 2,293,485 6,288,948 12,176,643 9,883,158 7,412,369
3 246,000 7.64 1,949,000 7.33 16,172,107 3,516,128 479,336 3,995,464 2,067,956 6,063,420 12,176,643 10,108,687 7,581,515
4 246,000 7.64 1,949,000 7.33 16,172,107 3,516,128 479,336 3,995,464 1,864,866 5,860,330 12,176,643 10,311,777 7,733,833
5 246,000 7.64 1,949,000 7.33 16,172,107 3,516,128 479,336 3,995,464 1,681,974 5,677,437 12,176,643 10,494,669 7,871,002
6 246,000 7.64 1,949,000 7.33 16,172,107 3,516,128 479,336 3,995,464 1,517,263 5,512,726 12,176,643 10,659,380 7,994,535
7 246,000 7.64 1,949,000 7.33 16,172,107 3,516,128 479,336 3,995,464 1,368,918 5,364,382 12,176,643 10,807,725 8,105,794
8 246,000 7.64 1,949,000 7.33 16,172,107 3,516,128 479,336 3,995,464 1,235,307 5,230,770 12,176,643 10,941,336 8,206,002
9 246,000 7.64 1,949,000 7.33 16,172,107 3,516,128 479,336 3,995,464 1,114,958 5,110,422 12,176,643 11,061,685 8,296,264
10 246,000 7.64 1,949,000 7.33 16,172,107 3,516,128 479,336 3,995,464 1,006,549 5,002,012 12,176,643 11,170,094 8,377,571
11 246,000 7.64 1,949,000 7.33 16,172,107 3,516,128 479,336 3,995,464 908,888 4,904,351 12,176,643 11,267,755 8,450,816
12 246,000 7.64 1,949,000 7.33 16,172,107 3,516,128 479,336 3,995,464 820,903 4,816,367 12,176,643 11,355,740 8,516,805
13 246,000 7.64 1,949,000 7.33 16,172,107 3,516,128 479,336 3,995,464 741,630 4,737,093 12,176,643 11,435,013 8,576,260
14 246,000 7.64 1,949,000 7.33 16,172,107 3,516,128 479,336 3,995,464 670,199 4,665,663 12,176,643 11,506,444 8,629,833
15 246,000 7.64 1,949,000 7.33 16,172,107 3,516,128 479,336 3,995,464 605,830 4,601,293 12,176,643 11,570,813 8,678,110
Universitas Indonesia
74
Cash Flow
Year Financial Rate ($) Cash Flow ($) Cumulative (Rp)
0 -47,933,575 -47,933,575
1 3,983,304 5,785,163 -42,148,412
2 3,485,391 6,220,462 -35,927,949
Universitas Indonesia
75
Universitas Indonesia
76
Universitas Indonesia