Energy-based industrial symbiosis is a potential decarbonisation strategy for energy-intensive industries, which contribute significantly to carbon emissions. Thermal energy storage (TES) can be integrated to enhance energy efficiency and operational flexibility, while addressing issues related to supply–demand fluctuations. Nonetheless, the economic feasibility of TES-supported interplant heat recovery depends on the costs and properties of the storage media incorporated. Therefore, this work presents a systematic framework for optimising TES selection across a spectrum of storage options for interplant indirect heat integration. The objective is to minimise the total annualised cost (TAC), comprising energy and storage capital costs. The optimal TES option can then be identified based on its respective TAC ranking. A case study that compares the effectiveness of the indirect method against the intraplant and direct methods is conducted. The results show that among the 33 TES options evaluated, silica fire brick offers the lowest TAC and energy-related carbon emissions, leading to a reduction of 21.60% and 13.16%, respectively, as compared to the intraplant method. Subsequently, a sensitivity analysis is performed to explore the impacts of varying stream flowrates and storage capacity redundancy allocation on the TES selection. This provides insights into the performance of various TES options under intraplant, direct, and indirect heat integration methods. Finally, the threshold (i.e., stream flowrate required to provide economic gain under a given redundant allocation scenario) aligned with the strategic planning can be determined. This work demonstrates that TES integration can improve the economic feasibility and sustainability of industrial symbiosis in energy-intensive industries.