COSTS AND PROJECT RISKS
|
|
- Richard Pope
- 7 years ago
- Views:
Transcription
1 COSTS AND PROJECT RISKS ASSOCIATED WITH OWNERSHIP AND CONTRACTING MODELS IN NUCLEAR NEW BUILD Sabin Sabinov, WorleyParsons Nuclear Services Bulatom Conference, Varna, 2014
2 Key Presentation Topics Cost of Nuclear Power Nuclear Projects Ownership Structures Project Risk Matrix Project Risk Treatment
3 Cost of Nuclear Power
4 Cost Components of Electricity from Nuclear Investment Costs Operational & Maintenance Costs Fuel Costs Decommissioning Costs Investment O & M Fuel Decommissioning
5 Investment (Capital) Costs Overnight Construction Costs Engineering costs Procurement costs Construction costs Other Owner s costs Escalation Costs during Construction Interest during Construction Escalation on labor and materials in host country and country of technology origin Financing costs: interest and fees paid on debt during construction
6 Construction Costs Construction costs can vary significantly and are depended on several factors, such as, but not limited to: Site characteristics Reactor Technology Number of Units Host country experience in nuclear Economic factors (labor & materials) Analysis demonstrates: Multiple-Unit plants benefit from economy of scale, shared development costs, common facilities, learning curves First-of-a-Kind plant development carries increased Overnight Costs for both Single and Multiple-Unit plants Tried-and-Tested plant developments share decreased Overnight Costs for both Single and Multiple-Unit plants
7 O&M, Fuel and Decommissioning Costs O&M costs Labor costs Repairs & Maintenance Nuclear Liability Insurance Etc. Fuel Costs Front End Costs supply of fresh nuclear fuel Back End Costs SNF management costs Decom Costs Provisions to ensure future financing of decommissioning
8 Levelised Cost of Electricity (LCOE) Elements considered in calculating LCOE: Cost Component Plant Performance Parameters Discount Rate Capital Costs Net Power The levelised cost of electricity is defined as the constant price per unit of energy that causes the investment to break even. O & M Costs Fuel Costs Decommissioning Costs Availability Load Factor Lifetime Taxes
9 Ownership Structures for NPP Projects
10 Available Options There exist other variations in ownership and commercial structures, which may provide for flexibility and allow more innovative schemes to be envisaged Economics, legal & regulatory environments, and particularly size and duration of nuclear projects put, however, a range of constraints + Market Unbundling and Market Liberalization BOO(T), concessions, Public Private Partnerships Project Finance Model? - Degree of Recourse on Shareholder(s) State Budget Model - Risk Transferability (from public to private sector) + Private/ Corporate Model
11 Ownership Structures The range of ownership and commercial structures for developing and financing a new-build project is, in principle, fairly limited Sovereign-based structure Government leadership Assets on the government s balance sheet Investment financed through state budget Financing based on budget allocations Simple contractual structure Corporate-based structure Corporate leadership Assets on a corporate balance sheet Investment financed thru a combination of debt and equity Financing based on commercial terms Need for more elaborate contractual arrangements Project-based structure Government owned company Publicly-owned corporate Privately-owned corporate BOO(T), PPP, Concession Contracted leadership Assets on a project company s balance sheet ( structured corporate ownership) Investment financed through a combination of debt and equity Financing based on commercial terms Need for comprehensive contractual arrangements
12 Risk Management Framework
13 NPP Project Lifecycle Environment Project Internal Environment Project Development OWNER(S) Project Execution Operations Back-end / Decommissioning
14 NPP Project Lifecycle Environment Context / Outside Environment REGULATORS Project Internal Environment OWNER(S) POLITICAL ENVIRONMENT CUSTOMERS Project Execution Project Development Operations FINANCIAL COMMUNITY PUBLIC Back-end / Decommissioning GOVERNMENT
15 NPP Project Lifecycle Environment Project Risks (known) Context / Outside Environment REGULATORS Project Internal Environment OWNER(S) POLITICAL ENVIRONMENT CUSTOMERS Project Execution Project Development Operations FINANCIAL COMMUNITY PUBLIC Back-end / Decommissioning GOVERNMENT
16 NPP Project Lifecycle Environment Project Risks (known) Context / Outside Environment REGULATORS Project Internal Environment OWNER(S) POLITICAL ENVIRONMENT CUSTOMERS Project Execution Project Development Operations FINANCIAL COMMUNITY Liabilities allocation PUBLIC Back-end / Decommissioning GOVERNMENT Contract / Codified DOR among project stakeholders Decisions in one environment have impact on and are impacted by decisions in another Stakeholders outside of the NPP impact on project internal environment as well as on the strategic environment as a whole
17 NPP Project Lifecycle Environment Externalities Project Risks (known) Context / Outside Environment REGULATORS Project Internal Environment OWNER(S) POLITICAL ENVIRONMENT CUSTOMERS Project Execution Project Development Operations FINANCIAL COMMUNITY PUBLIC Back-end / Decommissioning GOVERNMENT
18 NPP Project Lifecycle Environment Externalities Project Risks (known) Context / Outside Environment Unknown Risk (Black Swan) REGULATORS Project Internal Environment OWNER(S) POLITICAL ENVIRONMENT CUSTOMERS Project Execution Project Development Operations FINANCIAL COMMUNITY PUBLIC Back-end / Decommissioning GOVERNMENT
19 Risk Allocation Arrangements The heart of any plan But it is all about the money
20 Risk Allocation Rationale (Big Picture) SHAREHOLDERS Front-end work, Permitting and licensing POWER PLANT COMPANY Development and construction?? OFFTAKERS? Finance raising Operation and maintenance Electricity off-take Electricity Market Waste disposal / decommissioning Fuel supplies / management
21 Risk Evolution Requires Sophisticated Approach A greater level of risk assessment (mitigation) is required compared to for any other conventional form of generation Development Construction Operation Back-end Purely nuclear-related R I S K Nuclear adjacent Non nuclearrelated Risk mitigation will, amongst others, be a function of the corporate and commercial structure envisaged for developing a new-build project
22 Lifecycle Risk Matrix! Not only for financial risks Nuclear adjacent Non purely nuclearrelated Purely nuclearrelated Back-end Operation Construction Development Suppliers Insurance providers Debt providers Host government Shareholders
23 Risk Allocation Options OWNER (S) OTHER PROJECT STAKEHOLDERS? Risk Elements some of Design certification matters Permitting and licensing matters Compliance, monitoring and inspection matters Reputational matters Commercial matters Contractual matters Political risk matters Force Majeure Supply Chain
24 Project Risk Treatment
25 Mitigation Through Range of Instruments Procurement strategies Split Contract approach vs Turn-key Fixed vs. variable date / price quotations Price setting / price escalation formulae Commercial and contractual arrangements Partnering strategies Best price vs. most reliable long-term contract Fixed vs. variable price contracts (with price escalation formulae) Insurance products Commercial risk cover Political risk cover Off-the-shelf financial products Hedging Forward ECAs, Sovereign guarantees, Gvt comfort letters, shareholders guarantees, credit insurance
26 Selecting the Most Appropriate Tools Changes and variations in Prices (in particular for commodities) Interest rates Exchange rates Credit standing Debt-to-equity level Legal, regulatory and political environment Transferability (repatriation) Financing (sourcing) Delays in project delivery Funding Liquidity Bankability Known unknowns and unknown unknowns -Financial products (hedges, swaps, etc.) -Price setting / escalation formulae -Procurement strategies (open book, etc.) - Traditional financing structures -Insurance products (ECAs, private insurance) -Insurance products (ECAs, private insurance) -Commercial and contractual arrangements -Procurement strategies -Commercial and contractual arrangements -Commercial and contractual arrangements Risk Transfer Price
27 WorleyParsons Presence in Bulgaria Bulgaria power center is managing the regional power business of WorleyParsons All together 18 projects currently: EU - 13 Rest of the world existing offices in four countries: Bulgaria 4 Offices Czech Republic 1 Office Poland 3 Offices Turkey 1 Office Other current project countries in the wide region: Slovak Republic Slovenia Sweden Romania Armenia Egypt
28 Countries with current/recent projects Bulgaria Operations Europe: Sweden Slovakia Czech Slovenia Bulgaria Russia Turkey Ukraine Spain Serbia Belgium Poland Romania Italy United Kingdom Ukraine ME/Asia: Armenia Jordan Saudi Arabia Qatar Uzbekistan Kazakhstan China India Africa: Egypt South Africa Morocco Mauritania Uganda America: Mexico
29 Countries with current/recent projects Bulgaria Operations Related to nuclear power projects economics/risks assessments America: Mexico Europe: Sweden Slovakia Czech Slovenia Bulgaria Russia Turkey Ukraine Spain Serbia Belgium Poland Romania Italy United Kingdom Ukraine Africa: Egypt South Africa Morocco Mauritania Uganda ME/Asia: Armenia Jordan Saudi Arabia Qatar Uzbekistan Kazakhstan China India
30 DISCLAIMER This presentation has been prepared by a representative of WorleyParsons for the Bulatom Conference in Varna(Bulgaria), 4 th -6 th June The presentation contains the professional and personal opinions of the presenter, which are given in good faith. As such, opinions presented herein may not always necessarily reflect the position of WorleyParsons as a whole, its officers or executive. Any forward-looking statements included in this presentation will involve subjective judgment and analysis and are subject to uncertainties, risks and contingencies many of which are outside the control of, and may be unknown to, WorleyParsons. WorleyParsons and all associated entities and representatives make no representation or warranty as to the accuracy, reliability or completeness of information in this document and do not take responsibility for updating any information or correcting any error or omission that may become apparent after this document has been issued. To the extent permitted by law, WorleyParsons and its officers, employees, related bodies and agents disclaim all liability direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of WorleyParsons and/or any of its agents) for any loss or damage suffered by a recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information.
31
World Solution Provider
GE Consumer & Industrial World Solution Provider GE imagination at work GE Six businesses aligned with our customers needs, acting as one company. Harnessing the imaginations of more than 300,000 people
More information41 T Korea, Rep. 52.3. 42 T Netherlands 51.4. 43 T Japan 51.1. 44 E Bulgaria 51.1. 45 T Argentina 50.8. 46 T Czech Republic 50.4. 47 T Greece 50.
Overall Results Climate Change Performance Index 2012 Table 1 Rank Country Score** Partial Score Tendency Trend Level Policy 1* Rank Country Score** Partial Score Tendency Trend Level Policy 21 - Egypt***
More informationINVESTING IN A TRANSITIONING SECTOR
INVESTING IN A TRANSITIONING SECTOR Eurelectric conference Jon Moore, CEO NEW INVESTMENT IN CLEAN ENERGY 24-14 ($BN) 32% 17% $318bn -7% $294bn 16% -9% $31bn.5% $272bn $268bn 17% 46% 36% $175bn $25bn $26bn
More informationRosatom Investment Projects. Perspective in Europe and in the world
ROSATOM Rosatom Investment Projects Perspective in Europe and in the world Ivo Kouklík Vice-President, Rusatom Overseas June 13, 013 Rauma PRESENTATION CONTENT ROSATOM - Introduction ROSATOM Investment
More informationSPANISH NUCLEAR INDUSTRY. Antonio Cornadó Quibus President Spanish Nuclear Industry Forum
SPANISH NUCLEAR INDUSTRY Antonio Cornadó Quibus President Spanish Nuclear Industry Forum WHAT IS SPANISH NUCLEAR IDUSTRY FORUM? An association of companies that support activities related to nuclear energy:
More informationPerrigo Company Acquisition of Elan Corporation plc Exchange of Perrigo common shares Frequently Asked Questions & Answers
Perrigo Company Acquisition of Elan Corporation plc Exchange of Perrigo common shares Frequently Asked Questions & Answers On November 18, 2013, Perrigo Company ( Perrigo ) announced that its shareholders
More informationMALTA TRADING COMPANIES IN MALTA
MALTA TRADING COMPANIES IN MALTA Trading companies in Malta 1. An effective jurisdiction for international trading operations 410.000 MALTA GMT +1 Located in the heart of the Mediterranean, Malta has always
More informationFINANCIAL INSTITUTIONS ENERGY INFRASTRUCTURE, MINING AND COMMODITIES TRANSPORT TECHNOLOGY AND INNOVATION PHARMACEUTICALS AND LIFE SCIENCES
Nuclear Finance Basics FINANCIAL INSTITUTIONS Offtakers Regulators Developers People International Stakeholders Government Operators Suppliers Public Legacy Managers Financers Insurers 2 NEPIO Government
More informationGlobal AML Resource Map Over 2000 AML professionals
www.pwc.co.uk Global AML Resource Map Over 2000 AML professionals January 2016 Global AML Resources: Europe France Italy Jersey / Guernsey 8 Ireland 1 Portugal 7 Luxembourg 5 United Kingdom 1 50 11 Spain
More informationSulfuric Acid 2013 World Market Outlook and Forecast up to 2017
Brochure More information from http://www.researchandmarkets.com/reports/2547547/ Sulfuric Acid 2013 World Market Outlook and Forecast up to 2017 Description: Sulfuric Acid 2013 World Market Outlook and
More informationThe big pay turnaround: Eurozone recovering, emerging markets falter in 2015
The big pay turnaround: Eurozone recovering, emerging markets falter in 2015 Global salary rises up compared to last year But workers in key emerging markets will experience real wage cuts Increase in
More informationWorld Consumer Income and Expenditure Patterns
World Consumer Income and Expenditure Patterns 2014 14th edi tion Euromonitor International Ltd. 60-61 Britton Street, EC1M 5UX TableTypeID: 30010; ITtableID: 22914 Income Algeria Income Algeria Income
More informationMalta Companies in International Tax Structuring February 2015
INFORMATION SHEET No. 126 Malta in International Tax Structuring February 2015 Introduction Malta is a reputable EU business and financial centre with an attractive tax regime and sound legislative framework.
More informationEMEA BENEFITS BENCHMARKING OFFERING
EMEA BENEFITS BENCHMARKING OFFERING COVERED COUNTRIES SWEDEN FINLAND NORWAY ESTONIA R U S S I A DENMARK LITHUANIA LATVIA IRELAND PORTUGAL U. K. NETHERLANDS POLAND BELARUS GERMANY BELGIUM CZECH REP. UKRAINE
More informationFinancing Nuclear Power Projects: Challenges and IAEA Assistance in Capacity Building
Financing Nuclear Power Projects: Challenges and Assistance in Capacity Building International Framework for Nuclear Energy Cooperation Finance Workshop London, 9-10 May 2012 Nadira Barkatullah International
More informationConsolidated International Banking Statistics in Japan
Total (Transfer Consolidated cross-border claims in all currencies and local claims in non-local currencies Up to and including one year Maturities Over one year up to two years Over two years Public Sector
More informationNetherlands Country Profile
Netherlands Country Profile EU Tax Centre March 2012 Key factors for efficient cross-border tax planning involving Netherlands EU Member State Yes Double Tax Treaties With: Albania Czech Rep. Jordan Nigeria
More informationWELCOME! Introduction. Celebrating. &PrimeRevenue. PrimeRevenue Hong Kong. 2012 PrimeRevenue, Inc.
WELCOME! Introduction Celebrating Ethe Factor Network establishment of &PrimeRevenue PrimeRevenue Hong Kong 2012 PrimeRevenue, Inc. Global Reach Today, we transact business in 50 countries Our platform
More informationGreece Country Profile
Greece Country Profile EU Tax Centre March 2013 Key factors for efficient cross-border tax planning involving Greece EU Member State Double Tax Treaties With: Albania Estonia Lithuania Serbia Armenia Finland
More informationENTERING THE EU BORDERS & VISAS THE SCHENGEN AREA OF FREE MOVEMENT. EU Schengen States. Non-Schengen EU States. Non-EU Schengen States.
ENTERING THE EU BORDERS & VISAS THE SCHENGEN AREA OF FREE MOVEMENT An area without internal borders where EU citizens and non-eu nationals may move freely EU Schengen States Non-Schengen EU States IS Azores
More informationAristotle University of Thessaloniki ARISTOTLE UNIVERSITY OF THESSALONIKI
Aristotle University of Thessaloniki Helen Kotsaki Head of the International Relations Department Outline 1. Aristotle University of Thessaloniki International Relations Department main activities Inter-university
More informationShould Costing Version 1.1
Should Costing Identify should cost elements early in the design phase, and enable cost down initiatives Version 1.1 August, 2010 WHITE PAPER Copyright Notice Geometric Limited. All rights reserved. No
More informationMALTA TRADING COMPANIES
MALTA TRADING COMPANIES Malta Trading Companies Maltese Registered Companies and Trading Operations in Malta Malta, an EU Member State since May 2004, has developed into a leading and reputable financial
More informationGfK PURCHASING POWER INTERNATIONAL
GfK PURCHASING POWER INTERNATIONAL 1 Agenda 1. Europe 3 2. Americas 45 3. Asia & Near East 54 4. Afrika 66 5. Australia 68 6. Overview of countries and available levels 70 2 2 EUROPE 4 GfK
More informationReport on Government Information Requests
Report on Government Information July 1 - December 31, 2015 Apple takes our commitment to protecting your data very seriously and we work incredibly hard to deliver the most secure hardware, software and
More informationAmerican Funds Insurance Series. New World Fund. Summary prospectus Class 2 shares May 1, 2015
American Funds Insurance Series New World Fund Summary prospectus Class 2 shares May 1, 2015 Before you invest, you may want to review the fund s prospectus and statement of additional information, which
More informationClinical Trials. Local Trial Requirements
Clinical Trials Clinical trials insurance covers the legal liabilities of the insured in respect of clinical trials for bodily injury arising from the trial. The coverage provided by Newline is on the
More informationFY2008 RESULTS. 1 February 2008 to 31 January 2009
FY RESULTS 1 February to 31 January 2009 Net sales for FY reached 10,407 million. Net sales in local currencies and constant perimeter increased by 12%. INDITEX outperformed the sector in a challenging
More informationRunning a Business in Georgia
Enterprise Surveys Country Note Series Georgia World Bank Group Country note no. 6 rev. 1/211 Running a Business in Georgia N ew data from the Enterprise Surveys indicate that senior managers in Georgian
More informationLegal guidelines Free trade agreements of Ukraine
Legal guidelines Free trade agreements of Ukraine www.sk.ua Table of contents 3 1. FTAs of Ukraine 2. Trade statistics 3. Trade preferences under the FTAs 4. Exemptions from FTAs 5. Eligibility criteria
More informationEUF STATISTICS. 31 December 2013
. ESTIMATES OF EU TURNOVER VOLUMES. Turnover volumes by product, allocation and notification (Estimates of EU s, Millions of ) Estimate of the EU % on Turnover Significance of the sample on total turnover
More informationNon-Resident Withholding Tax Rates for Treaty Countries 1
Non-Resident Withholding Tax Rates for Treaty Countries 1 firms Non-Resident Withholding Tax Rates for Treaty Countries 1 Country 2 Interest 3 Dividends 4 Royalties 5 Annuities 6 Pensions/ Algeria 15%
More informationAppendix 1: Full Country Rankings
Appendix 1: Full Country Rankings Below please find the complete rankings of all 75 markets considered in the analysis. Rankings are broken into overall rankings and subsector rankings. Overall Renewable
More informationCapital preservation strategy update
Client Education Summit 2012 Capital preservation strategy update Head of Institutional Fixed Income Investments, Americas October 9, 2012 Topics for discussion 1 Capital preservation strategies 2 3 4
More informationMineral Industry Surveys
4 Mineral Industry Surveys For information contact: Robert L. Virta, Asbestos Commodity Specialist U.S. Geological Survey 989 National Center Reston, VA 20192 Telephone: 703-648-7726, Fax: (703) 648-7757
More informationTHE ADVANTAGES OF A UK INTERNATIONAL HOLDING COMPANY
THE ADVANTAGES OF A UK INTERNATIONAL HOLDING COMPANY Ideal Characteristics for the Location of an International Holding Company Laurence Binge +44 (0)1372 471117 laurence.binge@woolford.co.uk www.woolford.co.uk
More informationList of tables. I. World Trade Developments
List of tables I. World Trade Developments 1. Overview Table I.1 Growth in the volume of world merchandise exports and production, 2010-2014 39 Table I.2 Growth in the volume of world merchandise trade
More informationYour Business Connection
Your Business Connection What Kompass can do for you: Provide highly targeted leads Give in depth information about a company s structure and activity Help with market research and prospect evaluation
More informationNew data from Enterprise Surveys indicate that firms in Turkey operate at least as well as
Enterprise Surveys Country Note Series Turkey World Bank Group Country note no. 1 rev. 7/211 Running a Business in Turkey New data from Enterprise Surveys indicate that firms in Turkey operate at least
More informationNUCLEAR OPERATOR LIABILITY AMOUNTS & FINANCIAL SECURITY LIMITS
NUCLEAR OPERATOR LIABILITY AMOUNTS & FINANCIAL SECURITY LIMITS AS OF DECEMBER 2009 The OECD Nuclear Energy Agency attempts to maintain the information contained in the attached table in as current a state
More informationChapter 4A: World Opinion on Terrorism
1 Pew Global Attitudes Project, Spring 2007 Now I m going to read you a list of things that may be problems in our country. As I read each one, please tell me if you think it is a very big problem, a moderately
More informationTurkish Arab Economic Forum June 29, 2012. Mehmet Şimşek. Minister of Finance
Turkish Arab Economic Forum June 29, 2012 Mehmet Şimşek Minister of Finance 1 Outline Turkey: Short Term Outlook Managing a Soft Landing Fallout from the Euro Crisis Turkey & MENA REBALANCING Growing ON
More informationTOMTOM BONUS INTERNATIONAL MAP INDONESIA PROMOTION HOW TO CLAIM
TOMTOM BONUS INTERNATIONAL MAP INDONESIA PROMOTION HOW TO CLAIM a) To be eligible to claim, individuals must purchase an eligible TomTom GPS model (as stipulated below in Clause 11) from a participating
More informationGlobal Effective Tax Rates
www.pwc.com/us/nes Global s Global s April 14, 2011 This document has been prepared pursuant to an engagement between PwC and its Client. As to all other parties, it is for general information purposes
More informationBusiness Intelligence Software Market: Europe, 2002 (Executive Summary) Executive Summary
Business Intelligence Software : Europe, 2002 (Executive Summary) Executive Summary Publication Date: 9 January 2004 Authors Fabrizio Biscotti Colleen Graham This document has been published to the following
More informationKnow the Facts. Aon Hewitt Country Profiles can help: Support a decision to establish or not establish operations in a specific country.
Aon Hewitt Country Profiles Your eguide to employment requirements and practices Profiles for nearly 90 countries worldwide Risk. Reinsurance. Human Resources. Know the Facts Whether you are a newcomer
More informationNUCLEAR OPERATOR LIABILITY AMOUNTS & FINANCIAL SECURITY LIMITS
NUCLEAR OPERATOR LIABILITY AMOUNTS & FINANCIAL SECURITY LIMITS AS OF JUNE 2011 The OECD Nuclear Energy Agency attempts to maintain the information contained in the attached table in as current a state
More informationBahrain Telecom Pricing
Bahrain Telecom Pricing International Benchmarking December 2015 2015 Disclaimer This benchmarking report contains information collected by an independent consultant commissioned by the Telecommunications
More informationNorway Country Profile
Norway Country Profile Produced by Oslo Revisjon AS P.O. Box 123 Skoyen, N - 0212 Oslo, Norway Phone: +47 22 50 24 50 Fax : +47 22 50 36 80 Email: firmapost@oslorevisjon.no The intention of this profile
More informationTable 1: TSQM Version 1.4 Available Translations
Quintiles, Inc. 1 Tables 1, 2, & 3 below list the existing and available translations for the TSQM v1.4, TSQM vii, TSQM v9. If Quintiles does not have a translation that your Company needs, the Company
More informationGlobal Economic Briefing: Global Inflation
Global Economic Briefing: Global Inflation August 7, Dr. Edward Yardeni -97-7 eyardeni@ Debbie Johnson -- djohnson@ Mali Quintana -- aquintana@ Please visit our sites at www. blog. thinking outside the
More informationIFS ApplIcAtIonS For Document management
IFS Applications for Document management OUR SOLUTION S DNA When we first set out to create IFS Applications over 25 years ago, our goal was to make the most usable business software on the market. And
More informationGlobal Education Office University of New Mexico MSC06 3850, Mesa Vista Hall, Rm. 2120 Tel. 505 277 4032, Fax 505 277 1867, geo@unm.
Global Education Office University of New Mexico MSC06 3850, Mesa Vista Hall, Rm. 220 Tel. 505 277 4032, Fax 505 277 867, geo@unm.edu Report on International Students, Scholars and Study Abroad Programs
More informationBangladesh Visa fees for foreign nationals
Bangladesh Visa fees for foreign nationals No. All fees in US $ 1. Afghanistan 5.00 5.00 10.00 2. Albania 2.00 2.00 3.00 3. Algeria 1.00 1.00 2.00 4. Angola 11.00 11.00 22.00 5. Argentina 21.00 21.00 42.00
More informationTriple-play subscriptions to rocket to 400 mil.
Triple-play criptions to rocket to 400 mil. Global triple-play criptions will reach 400 million by 2017; up by nearly 300 million on the end-2011 total and up by 380 million on the 2007 total, according
More informationContact Centers Worldwide
A Contact Centers Worldwide Country Tel.no. Supported lang. Contact Center Albania Algeria 852 665 00 +46 10 71 66160 Angola 89900 +34 91 339 2121 (Port) and Portuguese +34 913394044 +34 913394023 (Por)
More informationTUV HELLAS IS: COMPANY PROFILE PRESENTATION OF ACTIVITIES
COMPANY PROFILE PRESENTATION OF ACTIVITIES TUV HELLAS IS: Subsidiary wholly owned by TUV NORD Operating in Greece since 1987 One of the most reliable Inspection and Certification Organizations in the Country
More informationData Modeling & Bureau Scoring Experian for CreditChex
Data Modeling & Bureau Scoring Experian for CreditChex Karachi Nov. 29 th 2007 Experian Decision Analytics Credit Services Help clients with data and services to make business critical decisions in credit
More informationInternational aspects of taxation in the Netherlands
International aspects of taxation in the Netherlands Individuals resident in the Netherlands are subject to income tax on their worldwide income. Companies established in the Netherlands are subject to
More informationDSV Air & Sea, Inc. Aerospace Sector. DSV Air & Sea, Inc. Aerospace
DSV Air & Sea, Inc. Aerospace Sector DSV Air & Sea, Inc. Aerospace Introduction to DSV DSV is a global supplier of transport and logistics services. We have offices in more than 70 countries and an international
More informationFinancing PPPs: Project Finance June 2006
Financing PPPs: Project Finance June 2006 Index Section I. Section II. Section III. Project Finance Spanish Market Advantages Risk Matrix P. 2 Section I Project Finance Project Finance Definition Definition:
More informationBrochure More information from http://www.researchandmarkets.com/reports/1339929/
Brochure More information from http://www.researchandmarkets.com/reports/1339929/ The 2011 World Forecasts of Machine Tools That Remove Material by Laser or Light, Photon, Ultrasonic, Electro-Discharge,
More informationChapter 5. The Mathematics Curriculum
Chapter 5 The Mathematics Curriculum The first section of Chapter 5 contains information about the time provided for mathematics instruction at the fourth and eighth s. Data are presented about the time
More informationFall 2015 International Student Enrollment
Fall 2015 International Student Enrollment Prepared by The Office of International Affairs Nova Southeastern University Nova Southeastern University International Student Statistics Fall 2015 International
More informationFDI performance and potential rankings. Astrit Sulstarova Division on Investment and Enterprise UNCTAD
FDI performance and potential rankings Astrit Sulstarova Division on Investment and Enterprise UNCTAD FDI perfomance index The Inward FDI Performance Index ranks countries by the FDI they receive relative
More informationTRANSFERS FROM AN OVERSEAS PENSION SCHEME
PENSIONS PROFILE DECEMBER 2011 TRANSFERS FROM AN OVERSEAS PENSION SCHEME = Summary A simplified guide to the process: 1. Individual requests transfer from their overseas pension scheme to their UK registered
More informationBLUM Attorneys at Law
BLUM Attorneys at Law CORPORATE TAXATION SYSTEM IN SWITZERLAND Outline of Swiss Corporate Tax System Levels of Taxation in Switzerland Resident companies are subject to: federal corporate income tax, and
More informationEvaluating the Quotes and Selecting a Vendor
Evaluating the Quotes and Selecting a Vendor All evaluators are responsible for ensuring that the evaluation process is impartial, fair, and in accordance with MSH's policies and procedures and donor regulations.
More informationMAUVE GROUP GLOBAL EMPLOYMENT SOLUTIONS PORTFOLIO
MAUVE GROUP GLOBAL SOLUTIONS PORTFOLIO At Mauve Group, we offer a variety of complete employee management services such as Global Employment Solutions (GES), Professional Employment Outsourcing (PEO),
More informationEnergy Briefing: Global Crude Oil Demand & Supply
Energy Briefing: Global Crude Oil Demand & Supply November 6, 215 Dr. Edward Yardeni 516-972-7683 eyardeni@ Debbie Johnson 48-664-1333 djohnson@ Please visit our sites at www. blog. thinking outside the
More informationCOST Presentation. COST Office Brussels, 2013. ESF provides the COST Office through a European Commission contract
COST Presentation COST Office Brussels, 2013 COST is supported by the EU Framework Programme ESF provides the COST Office through a European Commission contract What is COST? COST is the oldest and widest
More informationWe decided that we would build IFS Applications on standards so our customers would not be locked into any particular technology. We still do.
IFS Applications for Enterprise Asset Management OUR SOLUTION S DNA When we first set out to create IFS Applications over 25 years ago, our goal was to make the most usable business software on the market.
More informationAnalysis of statistics 2015
Analysis of statistics 215 January 216 ECHR Analysis of Statistics 215 Table of Contents Overview of the Court s statistics in 215... 4 A. Number of new applications... 4 B. Applications disposed of judicially
More informationTRADING STATEMENT FINANCIAL YEAR 2014/15
METRO GROUP TRADING STATEMENT FINANCIAL YEAR 2014/15 P. 1 TRADING STATEMENT FINANCIAL YEAR 2014/15 METRO GROUP achieves sales target and confirms EBIT guidance Like-for-like sales growth of 1.5% in financial
More informationPlutonium Watch. Tracking Plutonium Inventories by David Albright and Kimberly Kramer. July 2005, Revised August 2005
Plutonium Watch Tracking Plutonium Inventories by David Albright and Kimberly Kramer July 25, Revised August 25 Plutonium is a key ingredient in nuclear weapons, making it one of the most dangerous materials
More informationFrom Data to Decision
From Data to Decision Enhancing Supply Chain Efficiency in Fast Fashion Retail Bruno Cortes Chief Information Officer December4 th, 2012 CIO Summit Europe A fashion accessories company with presence in
More informationThe investment fund statistics
The investment fund statistics Narodowy Bank Polski (NBP) publishes data reported by investment funds which have been defined in Art. 3 section 1 of the Act of 27 May 2004 on investment funds (Journal
More informationAccident Management Reducing cost, time and worry
Accident Management Reducing cost, time and worry Accident Management 02 Reducing cost, time and worry Accident management is an integral part of ALD s DriveSafe risk management programme. Operated in
More information1 Definitions. 2 Standard Product Warranty
This Document ( T&C Document ) sets forth the terms under which Advanced Network Technology Laboratories Pte Ltd, ( ANTlabs ) upon Customer s payment of applicable fees and successful registration for
More informationIntroducing GlobalStar Travel Management
Introducing GlobalStar Travel Management GlobalStar is a worldwide travel management company owned and managed by local entrepreneurs. In total over 80 market leading enterprises, representing over US$13
More informationThe River Devoll Project
EVN Hydropower Development in Albania The River Devoll Project Dr. Michael Laengle, CFO Agenda > EVN Overview and strategy > Albania Electricity market in SEE > The River Devoll project 2 Company profile
More informationPRESS RELEASE. Indesit Company s Board of Directors examines the results for 2 nd quarter 2012 and approves the 1 st half management report
PRESS RELEASE Indesit Company s Board of Directors examines the results for 2 nd quarter and approves the 1 st half management report Growth in 2 nd quarter revenues and market share. Operating margin
More informationSURVEY 2015. The Italian Construction Companies in the World EDITED BY ANCE - ITALIAN CONTRACTORS ASSOCIATION
SURVEY 2015 The Italian Construction Companies in the World EDITED BY ANCE - ITALIAN CONTRACTORS ASSOCIATION Ten years of international growth The international turnover of the Italian Construction Companies
More informationThe Status of Nuclear Power in the World Before and After Fukushima
The Status of Nuclear Power in the World Before and After Fukushima Mycle Schneider International Consultant on Energy and Nuclear Policy, Paris, France Institute for Sustainable Development, Contact:
More informationInternational Call Services
International Call Services Affordable rates for business calls. Wherever you are in the world. We ve got plenty to say when it comes to staying in touch when you re overseas. We have agreements with 443
More informationAREVA: supply chain network principles and company s vision
AREVA: supply chain network principles and company s vision Virginie MOUCQUOT-LAIHO AREVA Finland Communications Director & Vice Country Manager Oulu, Finland 18.09.2012 1 AREVA & nuclear industry The
More informationAgenda. Company Platform Customers Partners Competitive Analysis
KidoZen Overview Agenda Company Platform Customers Partners Competitive Analysis Our Vision Power the backend of the post- web enterprise Key Challenges of the Mobile Enterprise Enterprise systems integration
More informationSURVEY 2010 THE ITALIAN CONSTRUCTION COMPANIES IN THE WORLD
SURVEY 2010 THE ITALIAN CONSTRUCTION COMPANIES IN THE WORLD edited by the Directorate for Economic Affairs and Studies and Overseas Works and International Relations Office Italian construction companies
More informationSupported Payment Methods
Supported Payment Methods Global In the global payments market, credit cards are the most popular payment method. However, BlueSnap expands the payment selection by including not only the major credit
More information4 DAY Course Outline. Power Purchase Agreements. for Emerging Countries
4 DAY Course Outline Power Purchase Agreements for Emerging Countries Overview This intensive and highly interactive four day hands-on course will provide a comprehensive analysis of issues associated
More informationGlobal Dialing Comment. Telephone Type. AT&T Direct Number. Access Type. Dial-In Number. Country. Albania Toll-Free 00-800-0010 888-426-6840
Below is a list of Global Access Numbers, in order by country. If a Country has an AT&T Direct Number, the audio conference requires two-stage dialing. First, dial the AT&T Direct Number. Second, dial
More informationINDEXES INDEX DEFINITIONS. Index Marketing. February 2015
INDEXES INDEX DEFINITIONS Index Marketing February 2015 FEBRUARY 2015 CONTENTS MSCI Regional Equity Indexes... 3 MSCI Index Variants... 7 Definition of Terms for MSCI Indexes... 9 MSCI.COM PAGE 2 OF 12
More informationSuccessFactors Employee Central: Cloud Core HR Introduction, Overview, and Roadmap Update Joachim Foerderer, SAP AG
Orange County Convention Center Orlando, Florida June 3-5, 2014 SuccessFactors Employee Central: Cloud Core HR Introduction, Overview, and Roadmap Update Joachim Foerderer, SAP AG SESSION CODE: 1812 Cloud
More informationSupported Payment Methods
Sell Globally in a Snap Supported Payment Methods Global In the global payments market, credit cards are the most popular payment method. However, BlueSnap expands the payment selection by including not
More informationCMMI for SCAMPI SM Class A Appraisal Results 2011 End-Year Update
CMMI for SCAMPI SM Class A 2011 End-Year Update Software Engineering Institute Carnegie Mellon University Pittsburgh, PA 15213 1 Outline Introduction Current Status Community Trends Organizational Trends
More informationMonthly Report on Asylum Applications in The Netherlands and Europe
Asylum Trends Monthly Report on Asylum Applications in The Netherlands and Europe November 2013 2014 November 2014 Colophon Title Subtitle Author Asylum Trends Monthly Report on Asylum Applications in
More informationR&D ACTIVITIES. Two in one A value added way to tax optimization
R&D ACTIVITIES Two in one A value added way to tax optimization 2 in 1 - A value added way to tax optimization One of the main priority fields of the Hungarian Government in relation to the 2014-2020 European
More informationEIOPA Stress Test 2011. Press Briefing Frankfurt am Main, 4 July 2011
EIOPA Stress Test 2011 Press Briefing Frankfurt am Main, 4 July 2011 Topics 1. Objectives 2. Initial remarks 3. Framework 4. Participation 5. Results 6. Summary 7. Follow up 2 Objectives Overall objective
More informationeinvoice A fully automated digital solution for companies of all sizes
einvoice A fully automated digital solution for companies of all sizes 2 IFS einvoice How much are you on your invoices? How about hundreds of labor hours? The expense of postage? Costly errors? And a
More information