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News & Media

Latest ITER Newsline

  • Thermal shield repair | Where are we at?

    Fitting the vacuum vessel sectors like a jacket, lining the inner wall of the cryostat, or covering the sides of vertical coil gravity supports, ITER's thermal [...]

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  • Neutral Beam Test Facility | After upgrades, SPIDER testbed set to restart

    After a two-year shutdown for upgrades, the SPIDER testbed at the ITER Neutral Beam Test Facility in Padua, Italy, is preparing for commissioning and operation. [...]

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  • ITER Research Plan | Jointly preparing a new blueprint

    As part of work underway to update the ITER Project Baseline, a group of experts nominated by the Members met in February to evaluate the new blueprint for achi [...]

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  • On site | Component transfer goes electric

    On Friday 16 February, a toroidal field coil was moved from the Assembly Hall to a storage place a few hundred metres away. Quite a routine operation at ITER, a [...]

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  • Image of the Week | Director-General Barabaschi visits India

    Following his visit to China, Japan and Korea last autumn, ITER Director-General Pietro Barabaschi continued his tour of ITER stakeholders w [...]

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Of Interest

See archived entries

Money talks

''The ITER Organization is spending taxpayers' money and has to maintain a high level of efficiency, economy and integrity for all its expenditures,'' says Hans Spoor, head of ITER Finance & Budget. (Click to view larger version...)
''The ITER Organization is spending taxpayers' money and has to maintain a high level of efficiency, economy and integrity for all its expenditures,'' says Hans Spoor, head of ITER Finance & Budget.
Why was it necessary to invent the ITER Unit of Account, or IUA? What is the difference between the planned value of ITER and its actual cost? Does ITER earn interest on the funds it holds, and —if so—where does this money go?

Hans Spoor, Head of Finance & Budget, addressed these questions and more at this week's Inside ITER seminar. Entitled "Everything you wanted to know but were afraid to ask about ITER finances," the audience was introduced to the specificities of ITER financing by its Members, budget planning and procedures, and principles of ITER accounting.

ITER construction will be managed within an agreed capped ceiling of 4700 kIUA. "Converted to euros at 2010 conversion rates (1 IUA = 1,552.24 euros), that's EUR 7.3 billion," demonstrated Hans. "ITER construction costs are equivalent to less than 20 euro cents/year for the inhabitants of the ITER Member countries."


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