# Total Investment: Rough Picture

Everything priced or estimated so far, rolled into one view. Blocks marked
"estimate" have no vendor confirmation; the rest trace to quotes or the
researched ranges in this repo. Treat all figures as budgetary with a wide
margin (plus or minus 30 to 50% on the estimates) until RFQs replace them.
FX: ~38 THB/EUR. Compiled July 2026.

## Full vision, all blocks

| Block | Low (EUR) | High (EUR) | Basis |
|---|---|---|---|
| Newbilt semi-auto line, full Duplex | 300,000 | 320,000 | 2024 quote 200,500 + quoted 2nd press/extruder ~100,000; expired, needs re-quote |
| 2 automated presses (Pheenix AD12) | 500,000 | 800,000 | unverified ~$340k/press indicative + delivery and commissioning |
| Galvanics line (Digital Matrix) | 280,000 | 560,000 | six-figure-USD turnkey inference from vendor research |
| Zero-discharge water treatment (ZLD) | 80,000 | 210,000 | utilities CSV option row, 3-8M THB |
| Stamper prep (Sibert VSP, VSF, VSC) | 50,000 | 150,000 | estimate, pricing unpublished |
| Mastering and cutting room (Agnew lathe and head, cutter amps, console, room treatment) | 250,000 | 500,000 | estimate, bespoke market |
| Metrology and QC stack (confocal, profiler, XRF, inline vision, audio station) | 300,000 | 700,000 | estimate, phaseable |
| Utilities, solar, HVAC, racking baseline | 630,000 | 1,100,000 | reviewed utilities CSV, 23.98-41.63M THB |
| Building ~1,500 m² plus civil works | 560,000 | 950,000 | estimate at 12,000-20,000 THB/m² Thai industrial construction plus ~20% site works |
| Land 6-8 rai, if purchased | 315,000 | 840,000 | estimate at 2-4M THB/rai industrial; leasing cuts this to near zero upfront |
| Traceability and factory software | 50,000 | 150,000 | estimate |
| Freight, installation, training (non-Newbilt equipment) | 100,000 | 200,000 | estimate |
| Working capital, PVC stock, spares | 100,000 | 200,000 | estimate |
| Subtotal | ~3,500,000 | ~6,700,000 | |
| Contingency 15% | ~500,000 | ~1,000,000 | |
| **Total, full vision** | **~4,000,000** | **~7,700,000** | **~150M to 290M THB** |

## Phased entry

A credible launch phase is far smaller, roughly **1.5M to 2.5M EUR**:

- Newbilt Single system (not Duplex yet)
- Bridge stampers from Stamper Discs, so no galvanics line at launch
- Basic QC (microscope, benchtop PVC lab, sampled listening), full
  metrology deferred
- Leased building instead of purchase, modest first solar array
- Galvanics, automated presses, full metrology, and the biomass boiler
  follow as revenue-funded or second-round expansions

The planning already supports this: the Duplex-ready hydraulics, the
bridge-supplier role for Stamper Discs, the staged electric-to-biomass
steam path, and the phaseable metrology stack are all documented for
exactly this reason.

## What moves the number

- **BOI**: machinery duty exemption applies across most of the equipment
  blocks, and the solar and automation spend converts into CIT-exemption
  headroom; the application precedes every purchase order (see
  [boi.md](../boi.md))
- **Buy vs lease** on land and building swings roughly 0.9M to 1.8M EUR of
  upfront capital
- **Biggest uncertainty bands**: metrology (partly a choice of ambition),
  the mastering/cutting room (bespoke vendor, no public pricing), the
  automated presses (single unverified price point), and land
- Every band narrows only with RFQs; the supplier map in
  [equipment-suppliers.md](../suppliers/equipment-suppliers.md) lists who
  to ask