Evaluation of Cost Effectiveness of Onibode Fire-Clay for Production of High Quality Refractory Bricks
- 1 Department of Metallurgical and Materials Engineering, University of Lagos, Lagos, Nigeria
- 2 Engineering Materials Research Department, Nigeria Building and Road Research Institute, Ota, Nigeria
- 3 Department of Marine Engineering, Federal Collage of Fisheries and Marine Technology, Lagos, Nigeria
- 4 Engineering Materials Research Department, Nigeria Building and Road Research Institute, Ota, Nigeria
- 5 Engineering Materials Research Department, Nigeria Building and Road Research Institute, Ota, Nigeria
Abstract
In establishing a plant or factory, the cost-benefit analysis is needed to determine the viability for such financial investment on the project. In this paper, the cost establishing a factory of 200,000 bricks per annum capacity, for the production of high quality refractory bricks from locally available raw materials in Nigeria was evaluated. The evaluation was conducted on the virgin refractory material (100%) as well as with varied percentages (10% - 40%) of alumina additions. The result of cost benefit analysis indicated that, the project was viable, with the highest cost at N1,203.66 per brick as against N1,800 (at 3 years projections) of the imported brick. The payback period for the capital investment was very short (within two years). The findings will aid investors in decision makings.
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