Keywords
EFB
Biomethanol
NPV
Payback Period
IRR
Abstract
Pertamina has developed A20, a low-emission fuel combination of 80% gasoline, 15% methanol, and 5% ethanol, in response to the Regulation of the Minister of Energy and Minerals Resources regarding the obligation to use biofuels as a combination of vehicle fuels. However, since Indonesia only has one methanol producer with a capacity of 660,000 tons/year, alternative ways are needed to meet the demand for methanol in A20. Empty oil palm fruit bunches (EFB) are a widely generated waste that accounts for over 20% of the total fresh fruit bunches of oil palm processed by the industry. EFB is an organic material rich in carbon content and can be used as a raw material for making biomethanol for biofuels through a gasification process. Therefore, the aim of this study is to discuss the economic feasibility of establishing a biomethanol manufacturing plant from EFB, using NPV, PP, and IRR as indicators. Based on the study's findings, a biomethanol plant is deemed feasible with an NPV of Rp4,334,875,634,343.80,-, PP within 4.87 years, and an IRR of 15.90%.
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