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Article: Updating the CE Plant Cost Index: changing ways of building plants are reflected as this widely used index is brought into the 21st century. (Engineering Practice).
- Article from:
- Chemical Engineering
- Article date:
- January 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Access Intelligence, LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Chemical Engineering Plant Cost Index (CEPCI) is an established institution. Since its introduction in 1963 [1], it has been published in each and every issue of CE. For more than 37 years, chemical-process-industry (CPI) professionals -- engineers, managers, and technicians -- have used the CEPCI to adjust process plant construction costs from one period to another. This index -- rather, indexes, as it consists of a composite index and eleven sub-indexes -- has received such wide acceptance that it has even been written into construction-contract cost-escalation clauses.
The CEPCI has a history of revisions. Most of these have been cosmetic, such as renaming ...