Multiperiod investment model for processing networks with dedicated and flexible plants

Abstract: "A processing network is modelled as a combination of dedicated and flexible production facilities. The former produce a set of products in fixed proportions at all times, while the latter can accommodate different products at different times. Both continuous and batch operations may be involved. For such a processing network, a multiperiod MILP investment decision model is presented. The model considers the choice of technology, size of capacity additions, and allocation of resources over time in order to maximize the net present value ofthe project over a long range horizon. The application of the model is illustrated with a small example."