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News & Media

Latest ITER Newsline

  • Summer postcards from the ITER worksite

    The latest harvest of ITER construction photos may be taken from the same point—the tallest crane on site—but there is always an abundance of new detail to be g [...]

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  • The ring fortress

    ITER'ssteel-and-concretebioshield has become the definingfeature of Tokamak Complex construction. Twolevels only remain to be poured (out of six). It is a 'rin [...]

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  • The wave factory

    A year ago, work was just beginning on the steel reinforcement for the building's foundation slab. The Radio Frequency Heating Building is now nearing the last [...]

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  • It's all happening inside

    Since the giant poster was added to the Assembly Hall's completed exterior in June 2016 the building has lookedfrom afar like a finished project. Butinside, tea [...]

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  • Along skid row

    They look like perfectly aligned emergency housing units. But of course they're not: the 18 concrete structures in the ITER cryoplant are massive pads that will [...]

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Of Interest

See archived articles

Money talks

-Krista Dulon

''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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