Economic Evaluation and Techno-Economic Sensibility Analysis of a Mass Integrated Shrimp Biorefinery in North Colombia

Huge amounts of wastes are generated during shrimp processing, representing approximately 65% of the initial shrimp weight, which can become an environmental problem when accumulated. Residues such as shrimp shells can be processed to obtain value-added products such as chitin, chitosan, astaxanthin, and a nitrogenous extract under the biorefinery concept. In this work, the economic evaluation and the techno-economic sensibility analysis for a mass integrated biorefinery based on shrimp were developed to determine the economic feasibility of the project and to identify the critical techno-economic variables that affect the profitability of the process. The results showed that a biorefinery for the annual processing of 4,113.09 tons of fresh shrimp in Colombia is profitable, with a return on investment percentage (%ROI) equal to 65.88% and a net present value (NPV) of 10.40 MM USD. The process supports decreases of up to 28% in capacity of production and increases of 12% and 11% in the cost of raw materials and variable operating costs without incurring losses, respectively. However, the decrease over 500 USD/t in the shrimp meat selling price is not supported, thus it is mainly recommended to increase the selling price of this product.