Academic literature on the topic 'Capital investment and specialized equipment'

INTRODUCTION:The medical equipment sector is characterized by a large share of overall health budgets spent for the provision of capital investment goods such as medical scanners and radiotherapy units. A high variability in provision and utilization rates of medical equipment can be observed too. The objective for this study was to contribute to effective cross-border cooperation between European Union (EU)-Member States by pooling resources for high-cost medical equipment investments (1).METHODS:Potential cost-intensive and highly specialised medical equipment, where cross-border investment resource pooling may be recommended, were identified by a combined evidence search and expert consultation. An efficiency assessment of medical equipment potential savings for EU-countries was done by a benchmark-approach and a best-practice-approach. Furthermore six examples for cross-border cooperation were investigated and two surveys have been conducted.RESULTS:The following medical equipment can be considered as cost-intensive and highly specialized across EU-Member States: Magnetic Resonance Imaging (MRI) scanners, Computed Tomography (CT) scanners, Stereotactic systems and Surgical robots.The efficiency assessment using the benchmark approach was performed for MRI, CT scanners, Positron Emission Tomography (PET) scanners, Angiography units, Gamma cameras and Lithotriptors. The results of the best-practice approach showed potential cost savings due to under-or overutilization per device group and EU-Member State. However, as this analysis offers a view on health systems on a very macro level it was not possible to give detailed insights at the country-level.The six selected cross-border examples demonstrated a wide variety of options regarding the structure, extent and organization of cross-border cooperation: Five of six cross-border examples were cooperation close to the border, in four of six examples EU funds played an important role.CONCLUSIONS:The study highlighted that cross-border cooperation in the field of cost-intensive/highly specialized medical equipment could bring economic advantages for many EU-Member States. Despite this, still only little is done by EU-Member States in terms of cooperation. Reasons are diverse and can be ascribed to lacking information, differences of national health systems, organizational and administrative hurdles, and lacking political support.

Power plants with waste heat collection and utilization have gained increasing interest in the high energy-consuming industries, such as steel-making and cement manufacturing, due to its energy efficiency. Waste heat power plants possess some intrinsic characteristics, for instance, the main equipment and the working fluids. However, at the time of this research, we could not find an economic analysis suitable to address the specialized aspects of waste heat power plant, making it difficult to measure the total capital investment needed for the business feasibility assessment. In this paper, we introduced our total capital investment estimation module developed for a waste heat power plant by considering its intrinsic features. We followed a systems engineering approach in designing and developing our module. We performed a requirements analysis of the stakeholders related to the waste heat power plant. Simultaneously, we consider the technical aspects by exploring the working fluids and main equipment implemented in the plant. Then, we developed the cost models for each equipment and used them as the basis of the proposed total capital investment estimation module. The performance verification showed that our proposed method achieved the initial accuracy target of a 5.78% error range when compared to the real data from the reference case study.

The authors define the concept of "an industrial service", consider the specific features of the industrial service and give its classification. The authors also confirm that services for reconditioning, modernization and maintenance of the equipment of enterprises and life support systems are currently most in demand. Execution of these works requires creating specialized service centers. The main their tasks include reconditioning and modernization of equipment, consultation, exchange of used equipment on the restored or new, post-warranty maintenance, diagnostic, fabrication of equipment parts on request. The development factors of service centers are identified and justified; they include specialization of service centers, a labor division between the functional of customer and service center, as well as large investments in research and development of new technologies. The article shows that an important role in promoting the service center plays a well-developed marketing system. The authors propose the algorithm of work with the customer service centers, discuss in detail all the stages, and also state that correct assessment of possible risks has considerable importance. Correct organization of the service centers work contributes to the formation of capital-intensive and profitable industrial services market, in which will invest as the large service companies, as their customers. All this will create an extensive network of specialized service centers that perform high quality repair work using innovative technologies and, as a consequence, the conditions for sustainable development of industrial services in the Russian Federation.

All ships and offshore platforms, however large or small, undergo scheduled or unscheduled repair and maintenance. The bidding process for ship repair jobs is highly competitive and global in scope. The ship repair industry is also prone to significant risks due to high level of capital investment in skilled labor, specialized equipment, and facilities such as dry docks. Several decision support tools have been utilized by the ship repair and maintenance industry with limited success. The focus of these tools is on mid or long-term planning. They view the system as various cost centers and attempt to minimize cost at each center. This paper proposes a decision support system for short term planning. It is oriented towards day to day decision making by ship yard personnel. Its focus is on enhancing system throughput and minimizing total cost. It utilizes a common corporate database to store and retrieve information and to generate timely reports for the management. By focusing on system throughput and overall cost, unnecessary internal completion between cost centers can be avoided, resulting in fewer delays and resource overloading.

The development of digital technologies offers a wide range of opportunities to increase production efficiency, which relies on known tools and methods that transform in modern conditions. Many researchers note that the specialization most characteristic of complex knowledge-intensive industries has high prospects and is evident in all sectors of the national economy. Its combination with cooperation and outsourcing brings momentum to the development of both individual enterprises and the industry as a whole. It has been found that in light industry, which had a developed system of specializations, the return to this practice is difficult due to significant changes in the industries related to the liquidation of large mass production enterprises and the lag in the creation of digital twins, which are the basis at the stage of production preparation. Lost in the process of transition to a market economy, large production with a complete cycle is now successfully replaced by specialized small and medium-sized production, using high-performance equipment combined with modern digital technologies. It is obvious that the garment industry has entered a new cycle of development characterized by a high degree of specialization against the background of the application of digital technologies at all stages of the product life cycle. The significant lag in the application of digital technologies at the stage of production of light industry products is overcome, especially in the transition to additive technologies. It is noted that the digital shadow complements the information digital twin, which is especially relevant from the point of view of production. The introduction of digital technologies in specialized industries allows to achieve higher productivity and payback of invested capital than in standard production, where such investment is "blurred" due to the lag of related processes of the enterprise. It has been revealed that the modern stage of development of light industry is characterized by the application of fundamentally new technologies based on the creation of a digital twin and digital shadow, which create prerequisites for industrial application of additive technologies in industry. Key words: specialization, cooperation, digitalization, development of light industry

The development of digital technologies offers a wide range of opportunities to increase production efficiency, which relies on known tools and methods that transform in modern conditions. Many researchers note that the specialization most characteristic of complex knowledge-intensive industries has high prospects and is evident in all sectors of the national economy. Its combination with cooperation and outsourcing brings momentum to the development of both individual enterprises and the industry as a whole. It has been found that in light industry, which had a developed system of specializations, the return to this practice is difficult due to significant changes in the industries related to the liquidation of large mass production enterprises and the lag in the creation of digital twins, which are the basis at the stage of production preparation. Lost in the process of transition to a market economy, large production with a complete cycle is now successfully replaced by specialized small and medium-sized production, using high-performance equipment combined with modern digital technologies. It is obvious that the garment industry has entered a new cycle of development characterized by a high degree of specialization against the background of the application of digital technologies at all stages of the product life cycle. The significant lag in the application of digital technologies at the stage of production of light industry products is overcome, especially in the transition to additive technologies. It is noted that the digital shadow complements the information digital twin, which is especially relevant from the point of view of production. The introduction of digital technologies in specialized industries allows to achieve higher productivity and payback of invested capital than in standard production, where such investment is "blurred" due to the lag of related processes of the enterprise. It has been revealed that the modern stage of development of light industry is characterized by the application of fundamentally new technologies based on the creation of a digital twin and digital shadow, which create prerequisites for industrial application of additive technologies in industry. Key words: specialization, cooperation, digitalization, development of light industry

This paper adopts knowledge mapping combined with a deep neural network algorithm to conduct in-depth research and analysis on the current situation and development of the industrial economy and designs a visual analysis model of economic development based on knowledge mapping combined with a deep neural network algorithm. Cultivate the concept of coordinated development and legal system of the subject, improve the awareness of network security and integrity self-discipline of the subject, improve the level of network hardware equipment manufacturing, improve the level of network platform construction, build a network security technology prevention system, improve the repair system of network information alienation, set up a specialized agency setting for the coordinated development of network ecology and industrial economy, and increase the capital investment in network infrastructure and network information technology research and development. A framework of breadth and depth recommendation ranking based on a knowledge graph is proposed and implemented. This paper provides a visual analysis method to sort and classify multivariate data. The method first determines users’ preferences through their interactive operations, calculates the weights of each attribute according to the users’ preference model, then uses the obtained attribute weight sets to sort the whole data set, and finally completes the category classification according to the sorting results and the users’ markings on some data. The visual display allows users to intuitively perform data sorting and classification operations and quickly understand the characteristics and category features of the data. The framework achieves modeling and integration of knowledge graph neighborhood information from breadth dimension and depth dimension to realize personalized recommendation sorting and improves the F1 metrics by 8.59%, 14.36%, and 15.22% on the public datasets Amazon-book, Yelp2018, and ILast-FM compared with the previous optimal model.

PURPOSE High-level investment in cancer prevention and control in low- and middle-income countries is urgently needed to address the predicted surge in cancer incidence, yet few assessments of health systems have systematically identified gaps in infrastructure, training, and patient care in sub-Saharan Africa. In Botswana, we evaluated the current state of cancer care and prevention, to understand the strengths, weaknesses, and needs regarding the provision of comprehensive cancer services. METHODS The study evaluated four regional hospitals designated as cancer sites by the Botswana Ministry of Health and Wellness to decentralize cancer services. A multi-site, cross-sectional evaluation using qualitative and quantitative methods was conducted. Focus Group Discussions with cancer patients, cancer survivors, caregivers, the general population, and healthcare workers were analyzed for emergent themes. Quantitative surveys assessed knowledge, attitudes and practices of health workers and hospital management staff, and cancer service gaps at health facilities. RESULTS Knowledge gaps included low awareness of cancer signs and symptoms among the general population, poor knowledge of early detection and treatment among health workers, and caregivers lacked skills to support cancer patients. Cancer screening services, other than cervical screening, were limited in all sites. Diagnosis and treatment barriers included lack of specialized personnel, equipment, timely pathology services, and drug stockouts. There were low levels of confidence in cancer management, including chemotherapy, without support from oncologists. Providers reported low patient screening uptake due lack of access and patients reported fear of diagnosis. Health facilities did not routinely notify cancers to the national registry. Radiotherapy was limited to one private hospital in the capital. CONCLUSION Decentralization of cancer services to regions will require substantial capacity building at district hospitals to strengthen fragmented screening, early diagnosis and treatment services. Health provider training needs and infrastructure gaps were substantial, with low public awareness of cancer signs, symptoms and causes.

Summary Subject and purpose of work: Running an agricultural activity requires acquiring funds necessary for its functioning and proper development. The most classic examples of financing agricultural activity include all kinds of bank loans used by farmers for the purchase of agricultural land, construction and modernization of buildings, the purchase of machinery and equipment, as well as the establishment of perennial plantations or the purchase of a herd. The aim of the study is to present the possibilities of financing agricultural activity by cooperative banks in the Podlaskie Voivodeship. Materials and methods: The study used the method of observation and analysis of banking materials. The source of information was the data of cooperative banks, the Agency for Restructuring and Modernization of Agriculture and the Central Statistical Office. Results: Over the centuries, cooperative banks have developed techniques, methods and practices in the field of agricultural lending. They have somehow specialized in this area and offer farmers a full range of commercial loans. They have also actively participated in the redistribution of funds under the implementation of the EU Common Agricultural Policy. for many years. Currently operating farms have access to many forms of financing (the most developed and available in banks, however, are loans) depending on their financial needs or planned investments. Conclusions: Among many forms of foreign capital in agriculture, it is preferential loans that play a significant role as a stimulus to improve farm activities. Granting loans by cooperative banks is one of the basic tasks in their operations. Bank loans play an important role in changes taking place in agriculture. They generally do not violate the principles of market economy and financing rules, provided that the financial and credit policy takes into account the needs and limitations resulting from the current and forecast economic situation of farms.

Доступ до роботи тільки на території бібліотеки ОНЕУ, для переходу натисніть на посилання нижче
У роботі розглядаються теоретичні аспекти конкурентоспроможності підприємства. Проаналізовано фінансово-господарську діяльність, ділове середовище та конкурентоспроможність ПрАТ «ДУНАЙСУДНОРЕМОНТ» Запропоновано заходи з управління конкурентоспроможністю ПрАТ «ДУНАЙСУДНОРЕМОНТ», що полягають у внесенні інвестицій на придбання нових установок плазмового різання.
The theoretical aspects of enterprise competitiveness are considered in the work. The financial and economic activity, business environment and competitiveness of Private stock company "DANUBE SHIP REPAIR" are analyzed. Measures to manage the competitiveness of "DANUBE SHIP REPAIR" are proposed, which consist in the making investments for the purchase of new plasma cutting plants.

Thesis (Ph. D.)--University of California, San Diego, 2007.
Title from first page of PDF file (viewed June 26, 2007). Available via ProQuest Digital Dissertations. Vita. Includes bibliographical references (p. 62-64).

IFRS allows firms to choose between fair-value accounting and historical cost accounting with impairment testing for property, plant and equipment (PPE). This study examines the effect of firms' accounting choices for this group of non-financial assets on over-investment after IFRS mandatory adoption in the European Union (EU). My results indicate that over-investment in PPE (or capital expenditures) is lower following IFRS adoption among EU firms that used historical cost accounting with impairment testing in the post-IFRS period, consistent with EU firms having more timely loss recognition for PPE under IFRS strict impairment rules. In my analysis of United Kingdom (UK) firms, I find that most UK firms elected to use historical cost accounting with impairment testing for PPE after IFRS mandatory adoption. I also find that UK firms that previously used fair-value accounting under UK GAAP and then switched to historical cost accounting with impairment testing under IFRS exhibit greater reductions in over-investment relative to other EU firms that used historical cost accounting with impairment testing prior to IFRS adoption. Additional analysis suggests that the reductions in over-investment after IFRS mandatory adoption are greater as the severity of agency conflicts increases, consistent with outside shareholders demanding timely loss recognition as a means of addressing agency conflicts with managers.

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O presente estudo teve como objetivo investigar os determinantes da perda de recuperabilidade de ativos, nas empresas brasileiras listadas na BM&FBOVESPA, no período de 2010 a 2014. Sua importância se dá a partir da Lei n° 11.638/09 que torna obrigatório, a partir de 2010, o teste de redução ao valor recuperável de ativos, no mínimo, anualmente. Para tanto, foi utilizada a abordagem quantitativa, com a finalidade de demonstrar a relação estatística entre o impairment reconhecido pela empresa e o valor de mercado, o ativo, o patrimônio líquido, o investimento, o imobilizado e o resultado do exercício e para testar a hipótese nula de que não existe essa relação utilizou-se o teste de Mann-Whitney. A população foi composta por 346 empresas brasileiras, abertas, ativas, e que negociam ações na BM&FBOVESPA. Para a amostra final, considerou-se 28 empresas que tiveram mensuração do impairment nesses grupos daquele período. A análise dos resultados evidenciou que: (i) o setor de Petróleo e Gás obteve a maior perda, seguido de Energia Elétrica e Têxtil. Em relação aos outros resultados obtidos levou-se em consideração a variável dependente e sua relação com às variáveis independentes onde foi possível observar no que se refere ao impairment registrado que o aumento de uma unidade nesse coeficiente foi acarretado por (ii) uma diminuição no coeficiente do valor de mercado; (iii) uma diminuição no coeficiente do ativo; (iv) um aumento no coeficiente do patrimônio líquido; (v) uma diminuição no coeficiente do investimento; (vi) uma diminuição no coeficiente do ativo total;(vii) uma diminuição no coeficiente da dívida; (viii) uma diminuição no coeficiente do EBITDA; (iv) um aumento no coeficiente do setor.
The present study aimed to investigate the determinants of asset impairment loss, the Brazilian companies listed on the BM&FBOVESPA, in the period from 2010 to 2014. Its importance is given from the law No. 11,638/09 that makes it compulsory, from 2010, the decrease in recoverable value of assets at least annually. To this end, quantitative approach was used, with the purpose of demonstrating the statistical relationship between the impairment recognized by the company and the market value, the active, the equity, the investment, fixed assets and the profit or loss for the financial year and to test the null hypothesis that there is no such relation using Mann-Whitney's test. The population was composed of 346 companies, open, active, and who trade shares on BM&FBOVESPA. For the final sample, 28 companies that had the impairment in these groups of that period. The analysis of the results showed that: (i) the oil and gas sector got the biggest loss, followed by power and textile. In relation to other results took into account the dependent variable and your relationship with independent variables where it was possible to observe with regard to impairment recorded that the increase of one unit in this coefficient was led by (ii) a decrease in the coefficient of market value; (iii) a decrease in the coefficient of active; (iv) an increase in the coefficient of net equity; (v) a decrease in the coefficient of investment; (vi) a decrease in the coefficient of total assets; (vii) a decrease in the coefficient of debt; (viii) a decrease in the coefficient of EBITDA; (iv) an increase in the coefficient.

Research on the Roman economy and the possibility of Roman economic growth has focused on demographic structures, on market integration, on credit facilities, on technology and modes of organization, and on institutions and mentalities. A factor that has received less attention is investment in capital goods. Economists have found, however, that among all the different variables that might play a role in economic performance, investment in production equipment (tools, machinery) stimulates economic growth particularly strongly. This chapter focuses on three case studies: (1) agricultural tools, equipment, and workspaces; (2) capital goods used in riverine and maritime transport, i.e. ships and the tools and workspaces needed for shipbuilding; and (3) workspaces and tools employed in urban production and service provision. It asks who invested in these capital goods, who owned them, who produced them, and how production was organized. Most importantly, it investigates how capital goods were allocated among those who needed them, i.e. the people producing and transporting goods and services for consumption. It is concluded that, given the levels of wealth necessary to invest in the production of the types of capital goods discussed here, ownership of such capital goods would overwhelmingly have been concentrated in the hands of social and political elites, and it is argued that the social and legal ties that connected ordinary producers and distributors of consumption goods and services to these elites played a crucial role in determining the level of access they had to these capital goods.

Railway transport involves the expenditure of resources on a combination of investment in capital items (e.g. stations, tracks, equipment) and/or in operations (e.g. subsidies). Concerning the fact that there are limited amounts of resources, it is necessary to maximize the returns obtained from the investments of those resources. The best way to do this is to ensure that the resources will be allocated on those projects that maximize their return. Railway appraisals therefore represent a way of thinking about all the costs and benefits of different railway related spending projects in a systematic manner so that, the projects can be compared and investments made in those which are going to provide the maximum possible return on the investment. This chapter provides a review of the main analytical tools that should be used in the process of railway investments appraisal. Namely, a detailed description of discounting, Net Present Value (NPV), Internal Rate of Return (IRR) and Cost Benefit Analysis (CBA) is covered by this chapter.

This chapter discusses the concept of facilities planning, design, equipment procurement, and management within the context of restaurant development. It includes the investigation and planning of the location, equipment, long-term investment in capital expenditure, life span, durability, and business longevity and assets, among many other factors. It provides references and guidelines for opening a foodservice facility, specifically a restaurant, the process of the restaurant opening, from concept to operation and the equipment required, from FFEs (furniture, fixture, and equipment) to utensils and other operating tools necessary to run an entire restaurant operation.

Oxen-drawn ploughs are used for cultivating the land and weeding millet fields, allowing a much larger area to be farmed than would be possible by hand. This chapter presents the distribution of oxen and plough-team equipment between village households, alongside patterns of sales and purchases of animals and their costs. Alternatives to buying animals and equipment are investigated, such as borrowing animals, and hire of plough teams, before examining the difficulties faced by those households without their own plough-team. The costs of acquiring and maintaining a plough team, and flow of returns over a five-year period are presented. Returns to investment in a plough team are shown for the four household types, A, B, C, D, in terms of net-present-value and payback period, depending on choices made about expansion of land area cultivated over a five year period. The chapter explores the importance of joint investment in both a well and oxen plough-team, before turning to an assessment of risk to oxen plough-team investment, and the flexibility of capital held in this form.

This chapter examines the link between intercity trade and long-run urban growth. It begins by introducing a Ventura-type model of the growth of isolated cities that allows for investment in physical capital and in urban transportation as ways to increase urban productive capacity. It then considers a sample of growth empirics for the United States, European, and Brazilian systems of cities with an emphasis on transportation improvements and factor accumulation. It also describes a model of economic growth in a system of cities that leads to a precise description of the law of motion in dynamic settings of either autarkic cities or specialized cities engaged in intercity trade. Finally, it explores the interrelationships between economic integration, urban specialization, and growth; the Rossi-Hansberg–Wright model of urban structure and its evolution; empirical aspects of urban structure and long-run urban growth; and sequential urban growth and decay.

This chapter reveals how Caymanian turtlemen experienced significant changes to the hunt and the turtle industry between the years 1880 and 1950. It explains how nineteenth century Caymanians had depleted local and nearby turtle grounds, which forced them to travel long distances in search of sea turtles. It also explains specific changes to the technology, equipment, financing, and labor organization of Caymanian turtle hunting voyages. The chapter argues that Caymanian turtle hunting matured because of the adoption of new technologies and capital investment into the industry, which turned itinerant turtlemen into an industry with an expansive global reach.

Variation in automotive industrial performance across seven East Asian countries reflects differences in firm competencies, but those differences are largely cross-national: common national environments are central influences on firms’ incentives to develop competencies. Factors emphasized in neoclassical accounts, such as market size, macroeconomic policy, and openness to foreign investment, are weak predictors of cross-national variation. Extensive development requires measures that facilitate capital mobilization and allocation, such as sector-specific FDI incentives and specialized infrastructure. Successful intensive growth cases are distinguished by effective sectoral institutes for collective training, testing, and research. Three sets of pressures push political leaders to pursue the long-term development of institutions: claims on resources (security threats and domestic pressures for welfare improvement) in the absence of easily accessible resources to satisfy such needs. These arguments are consistent with but go well beyond other prominent approaches to development: national innovation systems, global value chains, and developmental states.

Isobord, a start-up company that is setting up a new strawboard production plant in Manitoba, Canada, is facing critical operational problems that threaten its future. Isobord’s product is a high quality particleboard substitute that uses straw, rather than wood, as the main raw manufacturing material. To achieve viability, Isobord must develop processes to carefully coordinate and manage its straw baling, stacking and hauling operations. Through effective information systems, Isobord has the potential to reduce the amount of equipment it needs to purchase to meet straw harvest requirements. A small investment in optimization technology could yield considerable cost savings if the efficiency of capital equipment can be improved. A geographic information system (GIS)/relational database management system (RDBMS) solution is being explored, but budget and time constraints, as well as organizational inexperience, seriously threaten the project. An information technology decision must be made immediately if there is to be any hope of implementing technology to manage the first year’s straw harvest.

Isobord, a start-up company that is setting up a new strawboard production plant in Manitoba, Canada, is facing critical operational problems that threaten its future. Isobords product is a high quality particleboard substitute that uses straw, rather than wood, as the main raw manufacturing material. To achieve viability, Isobord must develop processes to carefully coordinate and manage its straw baling, stacking and hauling operations. Through effective information systems, Isobord has the potential to reduce the amount of equipment it needs to purchase to meet straw harvest requirements. A small investment in optimization technology could yield considerable cost savings if the efficiency of capital equipment can be improved. A geographic information system (GIS) / relational database management system (RDBMS) solution is being explored, but budget and time constraints, as well as organizational inexperience, seriously threaten the project. An information technology decision must be made immediately if there is to be any hope of implementing technology to manage the first years straw harvest.

Isobord, a start-up company that is setting up a new strawboard production plant in Manitoba, Canada, is facing critical operational problems that threaten its future. Isobord’s product is a high quality particleboard substitute that uses straw, rather than wood, as the main raw manufacturing material. To achieve viability, Isobord must develop processes to carefully coordinate and manage its straw baling, stacking and hauling operations. Through effective information systems, Isobord has the potential to reduce the amount of equipment it needs to purchase to meet straw harvest requirements. A small investment in optimization technology could yield considerable cost savings if the efficiency of capital equipment can be improved. A geographic information system (GIS) / relational database management system (RDBMS) solution is being explored, but budget and time constraints, as well as organizational inexperience, seriously threaten the project. An information technology decision must be made immediately if there is to be any hope of implementing technology to manage the first year’s straw harvest.

The article pays attention to the relation between capital equipment of labor and wage levels on the example of the Czech regions. Its main aim is to assess the relationship of the capital equipment of labor (expressed in terms of foreign direct investment and hours worked) to the wage level using correlation analysis, as well as the relationship of the capital equipment of labor and productivity in the regions of the Czech Republic. In addition, the validity of the relation “labor productivity is higher than the wage level” is verified using a comparison of standardized values of the indicators. The results show a high spatial dispersion of foreign direct investment in the Czech Republic, caused mainly by the Prague region. The positive correlation between the capital equipment of labor and wage levels, but also productivity, is statistically significant in the Czech regions. The problem of most Czech regions is the situation when the wage level exceeds the productivity level. Thus, the capital equipment of labor should firstly have a positive effect on the unit performance of labor, which would be rightly followed by increasing wages.

The use Total Capital Investment Cost (TCIC) as a figure of merit to evaluate the design of a Nuclear Power Plant can help lead to more economically competitive designs. TCIC includes costs of equipment, labor, materials and the associated time value of capital. The team developed the software tool EVAL, which is capable of determining TCIC impacts for any nuclear island (NI) of any design. EVAL was first used to estimate the effect of modularization on TCIC in constructing the Westinghouse Small Modular Reactor (SMR). In particular, three different construction cases were identified. In the first case, modules are manufactured in the fabrication facility and assembled into Super Modules (SMs) in the on-site assembly area, while SMs are assembled in the hole to form the NI. The second case differs from the first case in the fabrication process, as modules are manufactured in the on-site assembly area. In the third case, the NI is ‘stick built’; i.e., the modules are assembled in the hole, where all connections are performed and the structures are built. The analysis highlighted the positive impact of off-site modular construction on TCIC. EVAL is based on an open evaluation methodology. In this paper, we present an extension of EVAL that aims to analyze the impact of testing on TCIC. As only few Nuclear Power Plants (NPP) were built in the recent years, testing costs and durations are characterized by a high uncertainty. EVAL was used to evaluate the impact of testing on TCIC, considering a range of realistic data points. Testing costs were expressed as a percentage of total labor costs and TCICs were calculated for the three construction strategies. EVAL was also used to evaluate the impact of modular testing on TCIC. Modularization allows functional testing and system testing activities to be moved from the installation stage to the fabrication and assembly stages, with a subsequent reduction in labor cost and total construction time. TCIC sensitivities were performed on the fraction of testing activities that can be moved from the installation stage. The number of these activities is dependent on both the design and the technologies used during construction. The analysis showed the positive impact of modular testing on TCIC and demonstrated how EVAL can be a tool capable of helping stakeholder decisions.

Abstract This paper presents an unparalleled engineering assessment conducted to evaluate the feasibility of pre-investing in O2 enrichment technology, with the purpose of increasing the processing capacities of conventional air-based sulfur recovery units (SRUs). Ultimately, the goal is to minimize the overall number of required SRUs for a greenfield gas plant and, consequently, capture a significant cost-avoidance opportunity. The technology review revealed that a high-level O2 enrichment can double the processing capacity of air-based SRU, depending on the H2S content in acid gas. As H2S mole fraction in feed increases, the debottlenecking capability increases. For the project under assessment, the processing capacity of air-based SRUs showed a maximum increase of 80%. On the contrary, operating with high O2 levels, will elevate SRU reaction furnace temperature, and mandates installing high-intensity burners, along with special control and ESD functions, to manage potential risk and ensure safe operation. Additionally, the liquid handling section of SRUs (condensers, collection vessels, degassing vessels, sulfur storage tanks) should be enlarged to accommodate more sulfur production. Typically, the enriched oxygen can be supplied from air separation units (ASUs), which entails significant capital cost. Apart from these special design considerations, there are several advantages for adopting this technology. Oxygen enrichment removes significant nitrogen volumes, which reduces loads on Claus, tail gas treatment, and thermal oxidizer units. Hence, lower capital cost for new plants is acquired due to equipment size reduction. In addition, higher HP steam production and less fuel gas consumption are achieved. Conventionally, O2 enrichment technology is employed in the initial design stage or used to retrofit operating SRUs facilities. However, it is unique to consider O2 enrichment-design requirements as part of new air-based SRUs design for phased program development. The objective is to enable smooth transition to fully O2 enrichment operated SRUs at a later phase of the project without the need for any design modification. This exceptional pre-investment strategy has resulted into reducing the required number of SRUs at phase II from eight to five units; and accordingly, a significant cost avoidance was captured.

Risk Based Inspection (RBI) results in calculating a risk value for each piece of plant fixed-equipment. Usually RBI implementation results in fixed-equipment inspection program modification. Inspection is specified for equipment items that exceed Owner acceptable risk criteria while it is waived for equipment that is below acceptable risk levels. In RBI analysis, equipment risk value consists of a Likelihood-of-Failure (LOF) and a Consequence-of-Failure (COF) element. Furthermore LOF value is the sum of different equipment damage mechanisms (internal corrosion, external corrosion and cracking mechanisms). This paper describes on Olefins plant gains from applying RBI as a reliability-engineering tool instead of an inspection optimization tool. Based on RBI calculated risk values, fixed-equipment relative risk ranking is established to: • set priorities and focus our attention on the critical areas; • justify capital investment for Lifetime Extension projects; • proactively address Loss of Primary Containment and Process safety issues.

Our starting point is the definition and classification of investments, both financial and accounting. Thus, in a financial sense, an investment represents the change of an existing and available amount of money, with the hope of obtaining a higher but probable income in the future. In the accounting sense, an investment is the allocation of an amount available for the purchase of an asset, which will determine the future financial flows of income and expenses. Investments can be classified into two categories: domestic investments - consist of the allocation of capital for the purchase of machines, equipment, constructions, licenses, patents, etc. Their purpose can be to reduce costs, increase production, improve quality, increase market share, etc.; foreign investments - consist of capital investments in shares in other companies. They are also called financial investments and aim to increase the value of the company and diversify sources of income. We also analyze in this article the investment decision. The investment decision is the most important financial decision which a manager has to make. An investment usually involves allocating large sums of money in the long run, with a relatively high degree of risk. We also present and analyze both the stages of establishing an investment decision and the methods of evaluating an investment project. The article also presents management elements regarding the investment recovery term; discounted net value method, investment risk assessment.

The U.S. electric utility industry continues to undergo dramatic and accelerating transformation. Reliability and resiliency are a key focus. A number of important issues including cyber and physical security challenges, aging infrastructure, and low natural gas prices continue to be of concern. Significant advances in technology, and prolonged regulatory uncertainty are also contributing factors. Electric utilities are now making substantial investment in renewable resources and other technologies needed for renewables integration. This means a reduction in investment in generation assets and an increase in the transmission and distribution grids. There is also increased investment in providing customers with solutions to lower their costs, reduce their carbon footprint and provide control over their energy management. The transformation ultimately demands significant increases in power plant generation operating capabilities and higher levels of equipment reliability while reducing O&M and capital budgets. Achieving higher levels of equipment reliability, with such tightening budget and resource constraints, requires a very disciplined approach to maintenance and an optimized mix of the following maintenance practices: • Preventative (time-based) • Predictive (condition-based) • Reactive (run-to-failure) • Proactive (combination of 1, 2 and 3 + root cause failure analysis) Preventive maintenance (PM) is planned maintenance actions taken to ensure equipment is capable of performing its required functions. PM tasks are generally time-based, depending on the availability of condition monitoring data through a predictive maintenance (PdM) program. Traditionally, PdM is largely performed by maintenance technicians in the field with handheld devices. Resource constraints usually mean that often weeks or even months elapsed between readings on the same piece of equipment. This approach has limitations with data volume, velocity, variety, and veracity. Significant recent advances in sensor and technology associated with the Industrial Internet of Things (IIoT) have enabled the transformation of critical power plant assets such as steam turbines, combustion turbines, generators, and large balance-of-plant equipment into smart, connected power plant assets. These enhanced assets, in conjunction with analysis and visualization software, provide a comprehensive on-line conditioning monitoring solution that enables both a reduction in time-based PM tasks and also automation of PdM tasks. This paper describes an approach by Duke Energy to apply smart, connected power plant assets to greatly enhance its fossil generation equipment reliability program and processes. It will outline the value that is currently being realized and will also examine additional opportunities.

Relating to the establishment and acquisition of a company in Turkey by foreign investors, Foreign Direct Investments Law No.4875, FDI has entered into force on 17.06.2003. FDI formed a notification-based system rather than an approval-based system for foreigners to establish a new company and to take over company shares. Accordingly, company information regarding foreign investors will be notified to the General Directorate of Incentive Implementation and Foreign Capital via “Electronic Incentive Implementation and Foreign Capital Information System”. Foreign investment means establishment of a new company by a foreign investor or share acquisitions of an existing company, any percentage of shares acquired outside the stock exchange or 10 percentage or more of the shares/voting power of a company acquired through the stock exchange, by means of the following economic assets: assets acquired from abroad by the foreign investor which are capital in cash in the form of convertible currency bought and sold by the Central Bank of the Republic of Turkey, stocks and bonds of foreign companies excluding government bonds, machinery and equipment, industrial and intellectual property rights; or assets acquired from Turkey by foreign investor which are reinvested earnings, revenues, financial claims, or any other investment-related rights of financial value, rights for the exploration and extraction of natural resources. According to Article 4 of the Regulation for Implementation of Foreign Direct Investment Law, the Ministry of Economy shall provide information on the companies within the scope of foreign direct investments from Trade Registry Offices and related public institutions and organizations.

The methodology presented in this paper is implemented through a tool that integrates the functionality needed to perform accurate CHP market analysis. This tool includes the selection of target market segments and representative buildings, hourly building loads and characteristics, alternative CHP configurations, control rules and equipment management strategies, as well as detailed utility rates, components-based economics and reliability data. Results obtained by using the full capability of this tool are compared with less rigorous screening methods that use average building loads, constant equipment characteristics, and average utility rates. The comparison of results demonstrates that the utilization of the latter methods allows faster market screenings, but generates results that may lead to loss of capital investment, equipment operation and designs that are far from optimal, and erroneous energy policies.

Offshore activities and shipping in Arctic regions increased significantly in the past decade due to fossil resources. These areas hold about 15% of the worlds oil and gas. Exploration or transportation in such harsh Arctic environments possesses additional risks for the crew, the material and the environment. Hence, ships need to be able to handle low temperatures and ice impacts. Ice class certificates issued by classification societies reflect the ships level of ice capability. They are further required to be admitted to ice covered waters or particular regions in seasons with a certain probability of ice occurrence. In most cases, offshore operations are not continued in ice and ships need to transit through ice after abandoning a site upon ice arrival. However, the daily costs of such specialized vessels are high with up to 0.5M$ day that are not reimbursed in downtimes or transit. Therefore, in Northern Arctic regions a higher ice class can significantly enhance the ships workability and therewith its economic value. The lower Polar ice classes, respectively Baltic ice classes, can only be determined analytically with empirically validated formulae for common cargo ships. Other ship types and ships with low L/B ratios are typically required to prove their ice capability through ice model tests. Nevertheless, ice model tests determine only the ice class of the propulsion system, whereas the ice class of the hull structure is determined by calculations. Furthermore, ice model tests are typically conducted towards the end of the design phase where eventual modifications are expensive and potentially threaten the construction schedule of the vessel. Often steel and equipment have already been procured and the manufacturing has begun. This paper presents an iterative procedure of ice model testing and design updates in order to enhance the performance of a particular offshore vessel to meet the requirements for a particular ice class. Thereby, it will be shown how an increase in investment costs for the design changes is compensated by the increasing value of the ships capabilities due to the higher ice class. Furthermore, the drop in value of the ship for the next lower ice class will be indicated as well as the economic consequences should the ship fail to reach the targeted ice class.

This paper presents a study related with off-shore oil & gas production and processing facilities, where required energy, for electric power, mechanical power and process heat, is mostly produced using gas turbines, as the fuel source (natural gas) is available onsite. Since size and weight of all equipment on an offshore facility are critical, it becomes necessary for the facility engineering team to ensure that all equipment are sized and selected appropriately to obtain better return on the investment. Therefore, any approach which could help in utilizing energy resources effectively will influence the bottom-line of the project, namely reduced capital cost and/or increased return on investment. In this paper, one such approach of recovering power and thermal energy through the use of Organic Rankine Cycle system is discussed. A detailed thermo-economic analysis, conducted considering a system with four gas turbines operating, shows that power recovery equivalent to one topping gas turbine is achievable with a suitable working fluid. The presented thermo-economic analysis clearly shows that use of the Organic Rankine Cycle system for waste heat recovery is a technically viable and economically attractive solution for the offshore applications.

Macroeconomic summary Several factors contributed to an increase in projected inflation on the forecast horizon, keeping it above the target rate. These included inflation in December that surpassed expectations (5.62%), indexation to higher inflation rates for various baskets in the consumer price index (CPI), a significant real increase in the legal minimum wage, persistent external and domestic inflationary supply shocks, and heightened exchange rate pressures. The CPI for foods was affected by the persistence of external and domestic supply shocks and was the most significant contributor to unexpectedly high inflation in the fourth quarter. Price adjustments for fuels and certain utilities can explain the acceleration in inflation for regulated items, which was more significant than anticipated. Prices in the CPI for goods excluding food and regulated items also rose more than expected. This was partly due to a smaller effect on prices from the national government’s VAT-free day than anticipated by the technical staff and more persistent external pressures, including via peso depreciation. By contrast, the CPI for services excluding food and regulated items accelerated less than expected, partly reflecting strong competition in the communications sector. This was the only major CPI basket for which prices increased below the target inflation rate. The technical staff revised its inflation forecast upward in response to certain external shocks (prices, costs, and depreciation) and domestic shocks (e.g., on meat products) that were stronger and more persistent than anticipated in the previous report. Observed inflation and a real increase in the legal minimum wage also exceeded expectations, which would boost inflation by affecting price indexation, labor costs, and inflation expectations. The technical staff now expects year-end headline inflation of 4.3% in 2022 and 3.4% in 2023; core inflation is projected to be 4.5% and 3.6%, respectively. These forecasts consider the lapse of certain price relief measures associated with the COVID-19 health emergency, which would contribute to temporarily keeping inflation above the target on the forecast horizon. It is important to note that these estimates continue to contain a significant degree of uncertainty, mainly related to the development of external and domestic supply shocks and their ultimate effects on prices. Other contributing factors include high price volatility and measurement uncertainty related to the extension of Colombia’s health emergency and tax relief measures (such as the VAT-free days) associated with the Social Investment Law (Ley de Inversión Social). The as-yet uncertain magnitude of the effects of a recent real increase in the legal minimum wage (that was high by historical standards) and high observed and expected inflation, are additional factors weighing on the overall uncertainty of the estimates in this report. The size of excess productive capacity remaining in the economy and the degree to which it is closing are also uncertain, as the evolution of the pandemic continues to represent a significant forecast risk. margin, could be less dynamic than expected. And the normalization of monetary policy in the United States could come more quickly than projected in this report, which could negatively affect international financing costs. Finally, there remains a significant degree of uncertainty related to the duration of supply chocks and the degree to which macroeconomic and political conditions could negatively affect the recovery in investment. The technical staff revised its GDP growth projection for 2022 from 4.7% to 4.3% (Graph 1.3). This revision accounts for the likelihood that a larger portion of the recent positive dynamic in private consumption would be transitory than previously expected. This estimate also contemplates less dynamic investment behavior than forecast in the previous report amid less favorable financial conditions and a highly uncertain investment environment. Third-quarter GDP growth (12.9%), which was similar to projections from the October report, and the fourth-quarter growth forecast (8.7%) reflect a positive consumption trend, which has been revised upward. This dynamic has been driven by both public and private spending. Investment growth, meanwhile, has been weaker than forecast. Available fourth-quarter data suggest that consumption spending for the period would have exceeded estimates from October, thanks to three consecutive months that included VAT-free days, a relatively low COVID-19 caseload, and mobility indicators similar to their pre-pandemic levels. By contrast, the most recently available figures on new housing developments and machinery and equipment imports suggest that investment, while continuing to rise, is growing at a slower rate than anticipated in the previous report. The trade deficit is expected to have widened, as imports would have grown at a high level and outpaced exports. Given the above, the technical staff now expects fourth-quarter economic growth of 8.7%, with overall growth for 2021 of 9.9%. Several factors should continue to contribute to output recovery in 2022, though some of these may be less significant than previously forecast. International financial conditions are expected to be less favorable, though external demand should continue to recover and terms of trade continue to increase amid higher projected oil prices. Lower unemployment rates and subsequent positive effects on household income, despite increased inflation, would also boost output recovery, as would progress in the national vaccination campaign. The technical staff expects that the conditions that have favored recent high levels of consumption would be, in large part, transitory. Consumption spending is expected to grow at a slower rate in 2022. Gross fixed capital formation (GFCF) would continue to recover, approaching its pre-pandemic level, though at a slower rate than anticipated in the previous report. This would be due to lower observed GFCF levels and the potential impact of political and fiscal uncertainty. Meanwhile, the policy interest rate would be less expansionary as the process of monetary policy normalization continues. Given the above, growth in 2022 is forecast to decelerate to 4.3% (previously 4.7%). In 2023, that figure (3.1%) is projected to converge to levels closer to the potential growth rate. In this case, excess productive capacity would be expected to tighten at a similar rate as projected in the previous report. The trade deficit would tighten more than previously projected on the forecast horizon, due to expectations of an improved export dynamic and moderation in imports. The growth forecast for 2022 considers a low basis of comparison from the first half of 2021. However, there remain significant downside risks to this forecast. The current projection does not, for example, account for any additional effects on economic activity resulting from further waves of COVID-19. High private consumption levels, which have already surpassed pre-pandemic levels by a large margin, could be less dynamic than expected. And the normalization of monetary policy in the United States could come more quickly than projected in this report, which could negatively affect international financing costs. Finally, there remains a significant degree of uncertainty related to the duration of supply chocks and the degree to which macroeconomic and political conditions could negatively affect the recovery in investment. External demand for Colombian goods and services should continue to recover amid significant global inflation pressures, high oil prices, and less favorable international financial conditions than those estimated in October. Economic activity among Colombia’s major trade partners recovered in 2021 amid countries reopening and ample international liquidity. However, that growth has been somewhat restricted by global supply chain disruptions and new outbreaks of COVID-19. The technical staff has revised its growth forecast for Colombia’s main trade partners from 6.3% to 6.9% for 2021, and from 3.4% to 3.3% for 2022; trade partner economies are expected to grow 2.6% in 2023. Colombia’s annual terms of trade increased in 2021, largely on higher oil, coffee, and coal prices. This improvement came despite increased prices for goods and services imports. The expected oil price trajectory has been revised upward, partly to supply restrictions and lagging investment in the sector that would offset reduced growth forecasts in some major economies. Elevated freight and raw materials costs and supply chain disruptions continue to affect global goods production, and have led to increases in global prices. Coupled with the recovery in global demand, this has put upward pressure on external inflation. Several emerging market economies have continued to normalize monetary policy in this context. Meanwhile, in the United States, the Federal Reserve has anticipated an end to its asset buying program. U.S. inflation in December (7.0%) was again surprisingly high and market average inflation forecasts for 2022 have increased. The Fed is expected to increase its policy rate during the first quarter of 2022, with quarterly increases anticipated over the rest of the year. For its part, Colombia’s sovereign risk premium has increased and is forecast to remain on a higher path, to levels above the 15-year-average, on the forecast horizon. This would be partly due to the effects of a less expansionary monetary policy in the United States and the accumulation of macroeconomic imbalances in Colombia. Given the above, international financial conditions are projected to be less favorable than anticipated in the October report. The increase in Colombia’s external financing costs could be more significant if upward pressures on inflation in the United States persist and monetary policy is normalized more quickly than contemplated in this report. As detailed in Section 2.3, uncertainty surrounding international financial conditions continues to be unusually high. Along with other considerations, recent concerns over the potential effects of new COVID-19 variants, the persistence of global supply chain disruptions, energy crises in certain countries, growing geopolitical tensions, and a more significant deceleration in China are all factors underlying this uncertainty. The changing macroeconomic environment toward greater inflation and unanchoring risks on inflation expectations imply a reduction in the space available for monetary policy stimulus. Recovery in domestic demand and a reduction in excess productive capacity have come in line with the technical staff’s expectations from the October report. Some upside risks to inflation have materialized, while medium-term inflation expectations have increased and are above the 3% target. Monetary policy remains expansionary. Significant global inflationary pressures and the unexpected increase in the CPI in December point to more persistent effects from recent supply shocks. Core inflation is trending upward, but remains below the 3% target. Headline and core inflation projections have increased on the forecast horizon and are above the target rate through the end of 2023. Meanwhile, the expected dynamism of domestic demand would be in line with low levels of excess productive capacity. An accumulation of macroeconomic imbalances in Colombia and the increased likelihood of a faster normalization of monetary policy in the United States would put upward pressure on sovereign risk perceptions in a more persistent manner, with implications for the exchange rate and the natural rate of interest. Persistent disruptions to international supply chains, a high real increase in the legal minimum wage, and the indexation of various baskets in the CPI to higher inflation rates could affect price expectations and push inflation above the target more persistently. These factors suggest that the space to maintain monetary stimulus has continued to diminish, though monetary policy remains expansionary. 1.2 Monetary policy decision Banco de la República’s board of directors (BDBR) in its meetings in December 2021 and January 2022 voted to continue normalizing monetary policy. The BDBR voted by a majority in these two meetings to increase the benchmark interest rate by 50 and 100 basis points, respectively, bringing the policy rate to 4.0%.