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News & Media

Latest ITER Newsline

  • Upper ports | A very international effort

    The 18 upper ports of the ITER vacuum vessel are procured by Russia, manufactured in Germany, and mounted (in part) on the vessel sectors by contractors in Ital [...]

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  • Paint job | One level done, five to go

    The job is done and the effect is spectacular. At the deepest basement level (B2) of the Tokamak Building, the floors, walls, and ceilings are now perfectly whi [...]

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  • On site | Through the eyes of a crane operator

    Sitting in his cabin 80 metres above the ground, Alex Dumonteil enjoys a most spectacular view. To the north, on a clear day, he can see as far as the Alpine ri [...]

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  • Poloidal field coil #6 | The home stretch

    In Hefei, China, a 400-tonne ring magnet procured by the European Domestic Agency is entering the final phase of production—resin impregnation. In just over one [...]

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  • Neutral Beam Test Facility | SPIDER gets a beam for its first birthday

    Just one year ago, on 11 June 2018, the world's largest negative ion source was inaugurated at the ITER Neutral Beam Test Facility with the ignition of a brief [...]

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Of Interest

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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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