ECONOMICAL EVALUATION OF USE OF SECOND HAND MACHINERY IN PETROCHEMICAL INDUSTRY (CASE STUDY: IRANIAN PETROCHEMICAL PROJECTS)
Journal Title: Asian Economic and Financial Review - Year 2013, Vol 3, Issue 6
Abstract
The high cost of purchasing high technology and severe sanctions imposed on Iran over the last decade are the reasons why economical alternatives should be assessed, such as the use of second hand technology. There is evidence to show that in Iran the use of second-hand equipment in the petrochemical industry has become commonplace in recent years. Polypropylene (PP) and Methyl Tertiary-Butyl Ether (MTBE) are produced using second hand machinery purchased from a German company and recently used machinery transferred from an Indian company was utilized in the production line of Methyl Ethyl Ketone (MEK). In this research the three above-mentioned projects were evaluated to determine whether or not the use of second-hand machinery was economically justifiable. The method of research is descriptive analysis and output data will be estimated with Comfar software. The conclusion is that PP and MTBE projects could be justified from an economic perspective, but the MEK project failed in terms of profitability in the examined years.
Authors and Affiliations
Alireza Nasseri| Department of Management and Economics, Tarbiat Modares University, Iran, Bahram Sahabi| Department of Management and Economics, Tarbiat Modares University, Iran, Leili Solatyavari| Department of Management and Economics, Tarbiat Modares University, Iran
Keywords
Related Articles
- EP ID EP1927
- DOI -
- Views 478
- Downloads 37
CAUSAL INTERACTIONS BETWEEN CO2 EMISSIONS, FINANCIAL DEVELOPMENT, ENERGY AND TOURISM
Aim of this study is to investigate the casual relationship between tourism, financial development, energy consumptions and carbon emissions in Turkey and four European Union countries France, Spain, Italy and Greece whi...
COMPARATIVE STUDY BETWEEN MALAYSIA AND NIGERIA FORMAL LOW COST HOUSING POLICY ISSUES
The current practice housing policies of Malaysia and Nigeria did not highlight on the affordability of formal low cost houses. There are no laws, sections or guidelines regulating the affairs of formal low cost housing....
TICK SIZE AND COMMONALITY IN LIQUIDITY
This study suggests that the change of tick size, particularly in a step-function tick system, accounts for cross-sectional variation in market liquidity. We explored the relative significance of commonality in liquidity...
BUSINESS CYCLES WITH PERIODIC SHOCKS IN A MULTI-COUNTRY AND MULTI-REGIONAL NEOCLASSICAL GROWTH MODEL
This paper generalizes the global economic growth model with any number of countries and each country with any number of regions recently proposed by Zhang (2016). Zhang?s model extends Uzawa?s two-sector growth model to...
GAUGING MALAYSIAN CONSUMERS PERSPECTIVES ABOUT CORPORATE SOCIAL RESPONSIBILITY
This research was carried out on the premise that as CSR was becoming popular among corporations in Malaysia, it was important to gauge consumers? beliefs and perspectives about CSR and the CSR issues that mattered to th...