Principles For Selection and Risk Assessment of New Technologies: A Case Study for Ironmaking Process Technology Selection

ABSTRACT A methodology based on a two-stage approach was developed for process technology selection. The first stage includes evaluation of available technologies, followed by shortlisting the best technologies based on mass and energy balance modelling, financial analysis, and risk analysis. The second stage involves detailed analysis using refined input data, mass and energy balance modelling, and capital and operating cost estimation, as well as a more detailed financial analysis. A case study covering the selection of ironmaking technologies for a company in the Russian Federation is presented to illustrate the critical elements of the methodology and the analysis process.