## 1 Introduction  
Industrialization, urbanization, and population growth have increased the demand for water worldwide, leading to water scarcity in many countries [1]. Interannual and intra-annual climate variability are becoming greater, resulting in higher fluctuations in the water supply. The observed changes in heavy precipitation, droughs, and tropical cyclones have strengthened since 2014 [2]. The provision of clean water and water use efficiency are part of the Sustainable Development Goals (SDGs) adopted by the United Nations in 2015 [3]. A circular economy is an economic framework that maximizes service using cyclical material flows, renewable energy sources, and cascading-type energy flows [4], and it is also reflected in SDG 12--responsible consumption and production [3]. \"Wastewater\" is an important component of the circular economy [5], and water reclamation and reuse are increasingly being integrated into water resource management, as they are expected to mitigate water scarcity worldwide and provide flexibility to respond to both short- and long-term water supply needs [6, 7]. Industrial parks, particularly those located in water-stress areas, have high water demands that may compete with municipal and agricultural water demands, necessitatingappropriate water reuse to conserve natural water resources and assure industrial park sustainable development [8]. Water reclamation has been shown to provide various benefits, including economic, environmental, health, and social benefits [9; 10; 11; 12; 13; 14; 15; 16; 17]. Apart from the direct benefits of reclaimed water, water reclamation can effectively lessen pollution emissions, provide nutrients as fertilizers, conserve freshwater resources, and offer recreational benefits [9; 11; 17; 18]. According to a life cycle analysis (LCA) of water reuse in an industrial park is environmentally beneficial compared to the no-reuse scenario in most aspects, that is, marine aquatic toxicity, abiotic depletion, acidification, eutrophication, freshwater aquatic ecotoxicity, global warming, human toxicity, terrestrial ecotoxicity, and photochemical oxidation, with eutrophication and freshwater aquatic ecotoxicity potentials greatly depending on the pollutants discharged into the environment [19]. Moreover, water reclamation can potentially provide ecosystem service values, although research in this area is still limited [20; 21]. However, water reclamation can be challenging due to social, technological, economic, and regulatory constraints [22]. Economic feasibility, along with public acceptance, is considered a key factor in the implementation of water reclamation projects [12; 22], since high-cost advanced treatment technologies are usually required to ensure that reclaimed water is of high quality [23; 24; 25]. Despite its importance, public information on the economic feasibility of water reclamation projects in industrial parks is still limited [10]. Few studies have compared the costs of different water reuse options with those of the water supply options available in the areas under study [26; 27]. Furthermore, there are still no studies that consider externalities, such as environmental and social costs/benefits, of water reclamation projects in industrial parks, although these issues have been suggested for inclusion in an economic analysis of water reclamation projects [28; 29] and have been addressed in previous studies on the water reclamation of effluents from municipal wastewater treatment plants (WWTPs) [12; 13; 14; 15; 16; 17]. The inclusion of externalities in cost-benefit analysis (CBA) can disclose the genuine value of water reclamation projects [13], which can be used to obtain governmental support for such initiatives. Further, although LCA can provide information on all environmental aspects of water reclamation projects, it cannot be coherently combined with an economic feasibility analysis in the decision-making process. The economic and environmental dimensions are still considered separately [27].