ANALISIS KELAYAKAN FINANSIAL PEMBANGUNAN PABRIK BERBASIS SOLVENT PADA PT XYZ

• Main Author: Bastanta, Geoffrey
• Format: Final Project
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/80605
• Institution: Institut Teknologi Bandung

PT XYZ is one of the specialized chemical manufacturers in Indonesia. To support its operational activities, PT XYZ operates two plants, namely the central office and manufacturing plant in Cikarang (Plant 1), and a manufacturing plant and laboratory in Kota Bukit Indah (KBI) – Purwakarta (Plant 2). The KBI plant was acquired by PT XYZ in 2019 and designated to produce solvent-based products. The construction of the solvent- based plant in KBI faced challenges due to the COVID-19 pandemic. In 2022, PT XYZ resumed the development of the plant to commence mass production and market product X. However, PT XYZ has yet to conduct an investment feasibility study concerning the construction plan for this plant. Therefore, this research involves a financial feasibility analysis by calculating financial feasibility parameters. The calculated financial feasibility parameters include the net present value (NPV), internal rate of return (IRR), and payback period. The IRR value will be compared with the Minimum Alternative Rate of Return (MARR) obtained from the Weighted Average Cost of Capital (WACC) calculation. Subsequently, a sensitivity analysis is performed on variables that can alter feasibility criteria and determine the best scenario that needs be taken by PT XYZ. The research results indicate that if the factory's production capacity remains the same throughout the analysis period (scenario 1), the NPV is Rp1,290,245,027, the IRR is 8.92%, and the payback period is 9.1 years. If the production capacity is increased in the fifth year (scenario 2), the NPV is Rp16,592,398,173, the IRR is 14.33%, and the payback period is 8.2 years. Based on the financial feasibility analysis of these two scenarios, it is found that scenario 1 is not financially viable, while scenario 2 is financially viable. Therefore, the best scenario for PT XYZ to adopt is scenario 2, which involves increasing the production capacity of the factory in the fifth year.