This paper discusses three options for waste heat recovery in cement plant, they are dual-pressure power generation system, post-combustion capture system using MEA and the combined one. Model of power generation system was developed. Technical analysis was made from aspects of power generating capacity and CO2 capture ratio. In addition, economic evaluation was conducted to assess the performance of three systems targeting on higher Net Present Value (NPV). Variation of economic parameters were considered like carbon credit (10-90$/ton) and price of electricity (0.06-0.18$/kWh). Optimal option can be selected for waste heat utilization based on economic evaluation results in this paper.