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Latest ITER Newsline

  • Port cells | All 46 doors in place

    In ITER, ordinary objects and features often take on an awesome dimension. Take the doors that seal off the port cells around the Tokamak for instance. Doors th [...]

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  • Toroidal field coils | Two make a pair

    One of the essential 'building blocks' of the ITER Tokamak is the pre-assembly of two toroidal field coils, one vacuum vessel sector and corresponding panels of [...]

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  • Industrial milestone | Cryostat manufacturing comes to an end in India

    With a flag-off ceremony on 30 June, India's L&T Heavy Engineering marked the end of an eight-year industrial adventure—the manufacturing of the ITER cryost [...]

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  • Local partners | A celebration for ITER's "vital artery"

    ITER is made possible through the work of thousands of scientists, engineers, workers of all trades and industries across the globe. It is also made possible by [...]

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  • Photo reportage | Travelling with a coil

    From the salt marshes of the inland sea Étang-de-Berre to the rolling hills around the ITER site (with a view of some of the highest alpine summits) an ITER con [...]

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Of Interest

See archived entries

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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