ESTIMATION

Our team of Sales Engineers works closely with our Engineering, Construction and Project Management and Fabrication experts to develop our project proposals. With this team effort, customers benefit from our decades of experience with storage tanks in various industries and our ability to identify potential problems as well as potential value engineering solutions. Our goal is to provide accurate pricing that reflects the tank(s), and the schedule you need for the specific project.  

When we receive a request for quote, or a request for budgetary pricing, one of our Sales Engineers takes the lead on developing that pricing and proposal. From the budgetary phase of a project through the RFQ, our team works with customers to propose effective and economical storage tank project solutions.

Our experienced Sales Engineers have created some excellent resources to help you prepare a request for quote that will help your bidders develop proposals that address all your project needs. Our New Tank Project Planning Worksheet and our Tank Repair Project Planning Worksheet are free tools you can use to build a more effective RFQ. 

If you and your team are interested in learning more about developing quote requests for tanks, give us a call. We’re happy to provide a Lunch and Learn session to share information about preparing for and assembling an effective tank RFQ!

Key Factors Affecting the Cost of Large Vertical Steel Storage Tanks

The cost of a large vertical steel storage tank is determined by a combination of engineering, material, and construction factors. The most important variables include:

1. Tank Capacity and Geometric Dimensions

Tank diameter and height directly determine steel consumption and structural complexity. Larger tanks require thicker shell courses, reinforced bottom structures, and stricter construction controls.

2. Design Codes and Engineering Standards

Commonly applied standards include:

• API 650
• EN 14015
• GB 50341

Different standards impose different safety factors, calculation methods, and inspection requirements, which directly affect material selection and fabrication cost.

3. Stored Medium and Service Conditions

The type of stored liquid—such as crude oil, refined fuel, chemicals, or water—affects design pressure, corrosion allowance, and roof structure selection, influencing overall cost.

4. Steel Grade and Plate Specification

Typical materials include Q235B, Q345R, ASTM A36, and ASTM A516.
Higher-grade materials improve strength and service life but significantly increase raw material and processing costs, especially for thick steel plates.

5. Shell, Bottom, and Roof Plate Thickness

Plate thickness is determined through engineering calculations.
Annular plates, bottom plates, and lower shell courses often require increased thickness, contributing substantially to total steel weight.

6. Roof System Configuration

• Fixed roof tanks
• External floating roof tanks
• Internal floating roof tanks

Each roof type has different structural complexity, fabrication requirements, and installation costs.

7. Corrosion Protection and Surface Treatment

Surface preparation grade, coating system, and internal lining requirements vary based on operating environment and stored medium.
Higher corrosion protection standards result in increased material and labor costs.

8. Fabrication Method and Construction Approach

Large storage tanks are typically constructed using field-erection methods.
Local site conditions, installation techniques, equipment availability, and labor costs all influence the final project cost.

9. Accessories and Safety Appurtenances

Manholes, nozzles, vents, ladders, stairways, platforms, fire-fighting interfaces, and monitoring systems are essential components that must be included in cost calculations.

A reliable quotation is always based on detailed engineering design and calculation, not approximation.

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