Academic literature on the topic 'Plant and machinery valuation'
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Journal articles on the topic "Plant and machinery valuation"
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Derry, Chris. "Plant and Machinery Valuation." Journal of Property Valuation and Investment 9, no. 2 (February 1991): 152–58. http://dx.doi.org/10.1108/14635789110030886.
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Otegbulu, Austin Chike. "Methodological lapses in plant and equipment valuation amongst Lagos valuers." Property Management 37, no. 4 (August 19, 2019): 529–46. http://dx.doi.org/10.1108/pm-09-2018-0053.
Full textAbstract:
Purpose The purpose of this paper is to investigate the level of discrepancy in the valuation process adopted by valuers in the study area with a view to provide solution. Design/methodology/approach The study is based on both structured questionnaire and content analysis of valuation reports. In total, 185 (41 percent) structured questionnaires were randomly distributed to practicing estate surveying firms; out of 450 firms in Lagos, 173 were retrieved and used for analysis. However, the content analysis was based on 54 valuation reports on plants and equipment to investigate the extent of compliance to valuation process, standard and best practices among practitioners. Findings The findings from the study show that most of the practitioners lack the expertise to carry out plant and machinery (P&M) valuation, and there is evidence of poor application of methodology and lack of adherence to standards. Practical implications The findings from this study will reinforce the need for specialization and enforcement of standard in plant and equipment valuation practice, which will enthrone consistency, uniformity and reliability. Originality/value This study is the first to deal with methodology lapses in plant and equipment valuation in the study area. Ashaolu (2016) worked on the inter-disciplinary nature of plant and equipment valuation, whereas Otegbulu and Babawale (2011) worked on valuer’s perception or potential sources of inaccuracy in P&M valuation in Nigeria.
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Jansen van Vuuren, David. "Modified sales comparison method: valuing under (un)certainty." Journal of Property Investment & Finance 35, no. 1 (February 6, 2017): 101–10. http://dx.doi.org/10.1108/jpif-09-2016-0074.
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Purpose The purpose of this paper is twofold: first, to suggest a modified sales comparison model that is scalable and adaptable to value under conditions of certainty and uncertainty. The model can potentially be applied to residential property, non-residential property and large item plant and machinery in determining the value, rental or capitalisation rate. The second purpose is to address practitioner and end user bias, which if unaddressed can lead to potentially inconsistent valuation results. Design/methodology/approach Literature was reviewed on decision theory, specifically cognitive limitations, heuristics and biases. A qualitative approach is followed in the paper although the output of the proposed model itself is quantitative. Findings The paper argues that practitioners and end users alike tend to avoid advanced statistical techniques when valuing under conditions of certainty, while advanced statistical techniques would not be possible under conditions of uncertainty. In addition, practitioners can, due to the representative heuristic, be over-confident in their ability, skill or knowledge when performing valuations under conditions of certainty. When valuing under conditions of uncertainty, practitioners tend to avoid simple rule models as they consider the process too unique to be standardised. The combined effect is inconsistent valuation results unless it can potentially be addressed through an integrated and modified sales comparison model that takes into account varying degrees of certainty and uncertainty. Practical implications The proposed modified sales comparison model is an integrated model that can be adopted by practitioners in valuing residential, non-residential and large plant and machinery. It can potentially be used to value under conditions of certainty and uncertainty and improve valuation consistency. End users such as mortgage lenders and investors can benefit from the adoption of this model. Originality/value The aim of this paper is to propose an integrated and modified sales comparison model for valuing under conditions of certainty, normal uncertainty and abnormal uncertainty. The integrated model can value based on direct comparison under conditions of certainty and uncertainty while addressing the in practice avoidance of advanced statistical techniques and the implications of the representative heuristic and halo effect as cognitive biases on valuation consistency.
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Otegbulu, Austin, and G. K. Babawale. "Valuers' perception of potential sources of inaccuracy in plant and machinery valuation in Nigeria." Property Management 29, no. 3 (June 28, 2011): 238–61. http://dx.doi.org/10.1108/02637471111139419.
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Usherenko, S. V., and Y. Y. Kharchenko. "Applying the Market Multipliers to Valuate the Unprofitable Corporate Enterprises." Business Inform 11, no. 526 (2021): 302–8. http://dx.doi.org/10.32983/2222-4459-2021-11-302-308.
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A topical problem and a sought-after task is the assessment of value of the enterprise’s business and a value-oriented management of this business, which is of particular importance for diagnosing the financial condition of unprofitable enterprises, in particular debtor enterprises, at the stage of their financial sanitation and restoration of solvency. The relevance of application for unprofitable corporate enterprises of a common methodology for assessing the value of business with the help of a system of market multipliers is analyzed, which is then classified into groups, including the following: 1) earnings multipliers: «share price/earnings per share» (P/E), «price/sales – P/S», «value of business/sales» (EV/S), «value of business/profit from operating activities» (EV/Sales margin, valuates the enterprise according to the profitability of its core operations), and EV/EBITDA (estimation of the company’s total profit by all types of activities); 2) balance financial indicators: «value of business/balance value of assets» (EV/BV), «shares price/balance value of share capital» or «share price/balance value of net assets» (P/BV or P/BVE), «value of business/cost of buildings, machines and equipment on the balance sheet», or «value of business/value of non-current assets» (enterprise value/property, plant and equipment – EV/PP&E); «share price/net asset substitution value» (multiplier Q, or Tobin’s Q), «share price/net asset value», or P/NAV); 3) natural multipliers: price/volume of production, price/winning, etc. It is determined that each group of financial multipliers has advantages and disadvantages of its relevance to informativeness, and this must be taken into account when choosing multipliers for value assessment. The correctness of the choice of multipliers depends on the task of assessing the value of the share capital or the value of the business of enterprise in general. It is argued that the assessment of any enterprise or group of enterprises is a separate specific case that requires taking into account the key features of the enterprise activities. Taking into account such features, the correct choice of the multiplier and its modification is the key to obtaining a relevant assessment of the value of the enterprise. It is recommended to use a system from several multipliers for a relevant valuation of the enterprise, as well as apply several approaches to such a valuation. In case of valuation of the enterprise that is in the process of bankruptcy or systematically receives losses, the use of EV/S and EV/BV multipliers appears the most correct. To test the carried out theoretical-methodological analysis of the application of the market multipliers to valuate unprofitable enterprises, their application to valuate five unprofitable Ukrainian mines is presented, which serves as a verification of the recommendations developed in the work.
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Smolyak, S. A. "The Poisson process of machinery degradation: Application to valuation." Journal of the New Economic Association 48, no. 4 (2020): 63–84. http://dx.doi.org/10.31737/2221-2264-2020-48-4-3.
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The machinery degradation process is described by a random process in which failures occur with constant intensity, and with each failure the rate of benefits generated by the machinery item reduces by a random amount. If the machinery item begins to generate negative benefits, it is subject to decommissioning. We get explicit expressions for the average life of the machinery items and the coefficient of variation of the service life. Machine’s value is determined by discounting the flow of benefits from its future use. This allows to link this value with the rate of benefits that the machinery item brings. In cases where there is no information on the amount of such benefits, appraisers rely on the machine’s age. However, different machinery items of the same age may be found in a different condition and therefore are characterized by different values. We offer formulas for calculating the percent good factors reflecting the average decrease in the equipment’s value with age. To take into account the effects of income tax, property tax and inflation, it suffices to adjust the discount rate in the constructed model. It has been verified that the proposed dependencies are in a fairly good agreement with market price data for two different types of construction equipment.
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Sadchenko, Oleksandr, and Oleksandr Shevchenko. "CLASSIFICATIONS OF JUDICIAL COMPANY EXPERTISE." Criminalistics and Forensics, no. 67 (August 9, 2022): 596–606. http://dx.doi.org/10.33994/kndise.2022.67.61.
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The analysis of the practice of using special commodity knowledge shows that for research at the present level it is necessary to develop theoretical problems, among which the classification of forensic examinations is relevant. The authors offer their own classification of forensic examinations on various grounds. 1. According to the degree of generalization, subordination, forensic examinations should be divided into: class, genera, species and subspecies. Class: commodity examinations. Types: a) commodity examination of food products; b) commodity examination of non-food products; c) commodity examination of works and services. Types (subspecies): a) commodity examination of food products is divided into: – examination of goods of plant origin; – examination of goods of animal origin; – examination of goods of mixed origin. b) commodity examination of non-food (industrial) goods is divided into: – examination of consumer goods (consumer goods); – transport and commodity examination (auto commodity; examination of military vehicles; examination of vessels; examination of aircraft); – examination of machines, equipment, raw materials (examination of military property, machinery and weapons); – examination of real estate, real estate (examination of integral property complexes; examination of buildings; expert monetary valuation of land plots (shares)); – examination of cultural values; – examination of objects of painting and applied arts (examination of objects of painting and graphics; examination of sculpture; examination of objects of folk crafts; examination of objects of table setting, etc.); – examination of watches; – examination of securities goods; – examination of goods of property rights to intellectual property (examination of audiovisual products and software); – examination of clothing (examination of knitwear; examination of garments; examination of textiles; examination of fur products; examination of leather products; examination of outerwear, etc.); – examination of fur products; – examination of perfumery and cosmetics; – examination of shoes; – examination of haberdashery (examination of leather haberdashery); – examination of household appliances (examination of photo, radio and video equipment; examination of computers; examination of household electric lighting, etc.); – examination of furniture products; – examination of facilities (livestock, poultry and other live animals); – examination of goods of the construction group; – examination of printed products (examination of books and printing products, etc.); – examination of jewelry (examination of articles of precious metals; examination of articles of precious stones); – examination of stationery; – examination of medical equipment; c) commodity examination of services. 2. Classification of forensic commodity examinations by type of problem to be solved: – commodity examination, to solve classification problems (determination (establishment) of compliance: commodity characteristics of the studied objects with basic data (registers, etc.), data of similar products, marking data recorded on labels or tags, belonging to the same type or article); – commodity examination, to solve diagnostic problems (establishment: the presence of defects and their impact on product quality; compliance (non-compliance) of quality characteristics of products with standard and reference requirements; factual data related to compliance (non-compliance) with the rules of packaging, labeling, storage, transportation, rejection, revaluation and reduction of the price of goods). 3. Classification of forensic commodity examinations by type of object under study: – commodity examination, the objects of research of which are directly only products (commodity origin); – commodity examination, the objects of research of which are only documents (they reflect the state of the goods, the processes that took place with it, commodity transactions, etc.) (circulating name– “examination of documents”); – commodity examination, the objects of study of which are mixed objects (products; samples of products; documents which reflect information about the peculiarities of the origin of goods (certificates, quality certificates, technical passports, labels, etc.), freight (shipping) documents, acceptance or warehouse documents, claim materials, etc.). Key words: forensic examination, classification of forensic examinations, special commodity knowledge, commodity specialist, examination of food and non-food products.
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Wang, Fangyan. "Research of Sany based on financial analysis and PE valuation." BCP Business & Management 30 (October 24, 2022): 618–24. http://dx.doi.org/10.54691/bcpbm.v30i.2508.
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In recent years, a modern industrial system is taking shape and the construction machinery industry is generally showing an upward trend in its dynamics. Sany Heavy Industries, a leading player in China's construction machinery industry, has performed well in the industry with its excellent and unique strategy despite suffering from the impact of the Covid 19 epidemic. Based on the industry environment of the machinery industry, this paper conducts analysis from the DuPont method and valuation using the P/E method to study the financial level and operating conditions of Sany Heavy Industry and make data-supported recommendations for future investment. The research in this paper shows that Sany has a relatively promising outlook and strong competitiveness, and is worthy of continued attention and long-term value investment.
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Popović, Marko, Radomir Slavković, and Peđa Perišić. "Valuation of the construction machinery using the market approach." IMK-14 - Istrazivanje i razvoj 20, no. 4 (2014): 87–95. http://dx.doi.org/10.5937/imk1403087p.
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TAKADA, Masayuki, Hideharu YAMANO, and Shin-ichiro IWAMIYA. "Economic Valuation of the Sound Quality of Machinery Noise." Transactions of the Japan Society of Mechanical Engineers Series C 71, no. 707 (2005): 2155–62. http://dx.doi.org/10.1299/kikaic.71.2155.
Full textDissertations / Theses on the topic "Plant and machinery valuation"
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Mohd, Nasir Abdul Rahman. "Standardisation of plant and machinery valuation practices in Malaysia." Thesis, Queensland University of Technology, 2013. https://eprints.qut.edu.au/61056/1/Abdul_Mohd_Nasir_Thesis.pdf.
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Plant and machinery valuation is important to every company.s annual financial reporting. It is reported under the non-current assets section, and the valuers are generally employed to provide the up to date valuation of the non-current assets valuation such as property, plant and equipment that can make up to 80% of the total assets of a company. The valuation of plant and machinery is also important for other purposes such as securing loan facilities, sales, takeover, insurance and auction. The application of 2005 International Financial Reporting Standard (IFRS) has a subsequent impact on the financial sector, as a whole. The accountants have to choose between the Historical Cost approach and Market Value approach in determining the value of the client.s assets. In Malaysia, the implementation of IFRS has a domino effect on the financial system, especially for plant and machinery valuation for financial reporting. The comparison data for plant and machinery valuation is limited unlike land and building valuation. The question of Malaysian valuer.s ability to comply with the IFRS standard keeps rising every day, not just to the accountants, but also other related parties such as financial institutions, government agencies and the clients. This is happening because of different interpretations of premise of value for plant and machinery, as well as methods been used and differences in standards of reporting among the valuers conducting plant and machinery valuation. The root of the problem lies in the lack of practical guidelines governing plant and machinery valuation practices and different schools of thought among the valuers. Some follow the United Kingdom.s RICS guidelines, whilst some valuers are more comfortable with the United State.s USPAP rules, especially on the premise of value. This research is to investigate the international best practices of plant and machinery valuation and to establish the common valuation concept, awareness and application of valuation methodology and valuation process for plant and machinery valuation in Malaysia. This research uses a combination of the qualitative and quantitative research approach. In the qualitative approach, the content analyses were conducted from the international practices and current Malaysian implementation of plant and machinery valuation. A survey (quantitative approach) via questionnaire was implemented among the registered and probationary valuers in Malaysia to investigate their understanding and opinion relating to plant and machinery valuation based on the current practices. The significance of this research is the identification of international plant and machinery practices and the understanding of current practices of plant and machinery valuation in Malaysia. It is found that issues embedding plant and machinery valuation practices are limited numbers of resources available either from scholars or practitioner. This is supported by the general finding from the research survey that indicates that there are immediate needs for practical notes or guidelines to be developed and implemented to support the Malaysian valuers practising plant and machinery valuation. This move will lead to a better understanding of plant and machinery valuation, reducing discrepancies in valuation of plant and machinery and increased accuracy among practising valuers.
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Browne, D. G. "Development of a bench test to evaluate wear resistant materials and coal grindability for pulverizers." Thesis, Queensland University of Technology, 1987. https://eprints.qut.edu.au/36468/1/36468_Browne_1987.pdf.
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This report describes development work undertaken
to provide a simple, economically advantageous test to
reliably predict wear resistance or materials used in
slow and medium speed coal pulverizers.
Firstly the existing literature on abrasion and
erosion was used to analyse and identiry the principal
wear mechanisms reported to be operating in the pulverizers.
Secondly, the important parameters arrecting
wear were evaluated with respect to conditions occurring
in coal pulverizers. This inrormation was then
used as the criterion ror the selection and development
or a suitable wear test.
The existing apparatus and procedures or the coal
abrasion index test originally developed by Yancey,
Geer and Price was chosen ror the basis or the development
programme. Minor modirications were made to the
apparatus to allow the measurement and recording or
applied torque on the machine blades. Initial testing
with mild steel blades and coal as an abrasive gave the
rollowing results:
(i) Provided conditions were controlled within
reasonable bounds, the precision or the test was comparable
with other wear tests.
(ii) The majority or wear occured in the rirst
quarter or the test. (ie. 60¾ or wear took place
during the rirst 3000 revs. or a 12000 rev. total.)
(iii) Comparison between the wear scars on a test
blade and a mill ball using SEM techniques, indicated similar wear mechanisms occurred in the test apparatus
and the pulverizers.
These results were used as the :basis Tor the
design o± a test, which incorporated a potential 'standard'
abrasive consisting OT a ±oundry sand/epoxy mix,
heat cured into pellets 6mm dia :by 6mm long. The test
was used to evaluate the wear resistance o± three
di±±erent materials; Nihard 2, manganese steel and mild
steel, and produced satis±actory results ±or precision
and ranking.
Finally work was carried out to explore the possibilities
o± utilizing the energy expended during the
comminution OT the coal, together with sieve analysis
data, as an indication OT the grinda:bility or the coal.
Initial results were encouraging and warrant Turther
work to confirm the correlation :between the measured
variables (ie. energy and size reduction) and the presently
accepted method OT indicating coal grindability,
the Hardgrove Grindability Index values.
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Chukanova, E. "Modelling of screw compressor plant operation under intermittent conditions." Thesis, City, University of London, 2016. http://openaccess.city.ac.uk/15825/.
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Compressor plant frequently operates under unsteady conditions. This is due to pressure fluctuations, variable flow demand, or unsteady inlet conditions, as well as shaft speed variation. Also, following demand, compressor plants often work intermittently with frequent starts and stops. This may cause premature wear, decrease of compressor performance and even failure, which might cost millions of pounds to industry in downtime. However, there is still a lack of published data which describes intermittent plant behaviour, or predicts the effects of unsteady operation upon compressor plant performance. Thus, there appears to be a need to develop a mathematical model to calculate compressor plant performance during intermittent operating conditions and to verify this model with experimental data. Accordingly, this thesis describes an experimental and analytical study of screw compressor plant operating under unsteady conditions. For this purpose a one-dimensional model of the processes within a compressor was used, based on the differential equations of conservation of mass and energy, extended to include other plant components, such as storage tanks, control valves and connecting pipes. The model can simulate processes in both oil-free and oil-injected compressor plants during transient operation, including the effects of sudden changes in pressure, speed and valve area. Performance predictions obtained from the model gave good agreement with test results. This model can, therefore, be used to predict a variety of events, which may occur in everyday compressor plant operation.
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Rouse, James Paul. "Computational component analysis techniques for high temperature power plant applications." Thesis, University of Nottingham, 2014. http://eprints.nottingham.ac.uk/30659/.
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There is a trend in the power industry for high temperature components (such as steam pipe work) to be operated in an increasingly arduous fashion. This would involve the use of elevated steam temperatures/pressures and a greater frequency of start up/shut down cycles. Such generation strategies are being adopted due to the need for thermally efficient power supply that can match fluctuating market demands. If these generation strategies are to be implemented safely it is critical that careful analysis of the system components is conducted in order to ensure that premature failure does not occur. The advanced material models and techniques that are used in academia to simulate these components are often out of reach of the engineers working in industry. The present work describes the development of an analysis “toolbox” that takes several advanced material models (which can accommodate complex loading conditions) and applies them in numerical (finite element analysis, FEA) and approximate life estimation methods. The toolbox comprises several modules, each of which relates to a specific aspect of component analysis. In this thesis, the fundamental procedures behind these modules are developed in novel ways in addition to the development of the toolbox as a whole. The toolbox modules may be roughly divided into the definition of a component’s material, geometry and loading condition, followed by some form of analysis procedure and a report of the key results. A material’s behaviour is commonly determined from mechanical tests. For in service components, scoop sampling is an exciting new method to extract small amounts of material which may then be tested using several novel small specimen techniques. An investigation has been conduced in the present work that verifies the safety of this method and allows the localised stress behaviour around an excavation to be estimated. Material constants in material behaviour models are usually determined by fitting the outputs of the model to experimental data in an optimisation procedure. A great deal of work has been completed on this topic using the complex Chaboche unified visco-plasticity model. This has led to the formation of the combined parallel optimisation strategy and the development of data cleaning for the determination of material constants in any model. Due to the high temperature conditions power plant components operate in, creep is a major concern. Several damage material models have been compared which can represent failure due to creep. Generally, these models can be divided into power law and hyperbolic sine functions. Through a comparative investigation using multiple component geometries, it has been found that the hyperbolic sine function creep law gives lower predictions of failure time than the power law models at realistic stress levels. Hyperbolic sine function failure lives were also more representative of reality. It is therefore critical when performing component analysis to consider the form of a material model as well as the loading range its material constants are applicable to. The Chaboche unified visco-plasticity model has also been discussed. Using this model, both hardening due to the accumulation of plastic strain and viscous effects (such as creep stress relaxation) may be described. Models like this will play an important role in the analysis of high temperature components as they experience fluctuations in both load and temperature. Although it appears simple, the geometry of a high temperature pipe bend in a power plant is actually complex due to the manufacturing process employed (a straight pipe section is heated through induction coils and bent using a fixed radius arm). The pipe’s wall thickness not only varies circumferentially around the pipe’s cross section but also around the bend itself. Through the analysis of industrial data (collected by ultrasonic measurement of components during outage inspections) several novel geometry factors have been developed that quantify this dimension variation. A new method to analyse such pipe bends has also been created that interpolates the stress states between two dimensional (2D) models that represent the cross section of a pipe bend at several key locations. Once a geometry, loading condition and material has been defined, an analysis procedure may be employed in order to assess the condition of the component. As creep is a key concern under high temperature conditions, most of the analysis procedures discussed in the present work are focused on the prediction of peak rupture stresses (δR) which may be used to estimate failure lives due to creep. Several approximate (errors are typically less than 5%) parametric relationships have been developed that allow peak rupture stresses to be determined based on, for example, pipe bend geometry factors. In addition, to aid in bespoke FEA analyses, a collection of routines with a graphical user interface (GUI) have been created that can write input files for a commercial FEA code (ABAQUS), run the job and post process the results. This can save a great amount of user effort when attempting to analyse components. Finally, an original neural network (that uses a partially connected, multiple input node architecture) has been proposed that predicts δR in pipe bends operating under steady-state creep conditions. Both internal pressure and system loads have been incorporated as inputs for this neural network. This has required the definition of several new load factors that describe the system loads acting on a component. Recommendations for future developments based on this research have also been given. Future developments may look to include fatigue effects in parametric equations, as well as considering the effect of varying loading conditions (possibly through a damage fraction approach). The Chaboche model (or similar unified model) may be modified to include temperature dependency and damage effects (allowing for a wider application to component analysis). The effect of geometry variation may be included in the neural network, again extending its applicability, and stresses due to temperature distributions in the piping components may be incorporated (at present, these have not been considered, however system loads may be thermally driven). The work presented in this thesis addresses a complete analysis procedure, from collecting material information from a component through scoop sampling, to determining material constants for this material by an optimisation procedure and analysing the component using either numerical or approximate methods. Although pipe bends have been considered for the significant part of this work due to the relatively small amount of research reported in literature, similar methodologies may be applied to other power plant components of interest, such as welds, steam headers or branch pipes.
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Zhou, Jieyun. "Real options valuation in energy markets." Diss., Georgia Institute of Technology, 2010. http://hdl.handle.net/1853/33985.
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Real options have been widely applied to analyze investment planning and asset valuation under uncertainty in many industries, especially energy markets. Because of their close analogy to financial options, real options can be valued using the classical financial option pricing theories and their extensions. However, as real options valuation often involves complex payoff structures and operational constraints of the underlying real assets or projects, accurate and flexible methods for solving the valuation problem are essential. This thesis investigates three different approaches to real options valuation and contributes to aspects of modeling realism and computational efficiency. The contributions are illustrated through two important applications of real options in energy markets: natural gas storage and power plant valuation.
Because spread options are commonly used in basic real options valuation techniques, the first part of the thesis addresses the problems of spread option pricing and hedging. We develop a new
closed-form approximation method for pricing two-asset spread options. Numerical analysis shows that our method is more accurate than existing analytical approximations. Our method is also extremely fast, with computing time more than two orders of magnitude shorter than one-dimensional numerical integration. Closed-form approximations for the Greeks of spread options are also developed. In addition, we analyze the price sensitivities of spread options and provide lower and upper bounds for digital spread options.
We then further generalize the above results to multi-asset spread options on an arbitrary number of assets. We provide two new closed-form approximation methods for pricing spread options on a basket of risky assets: the extended Kirk approximation and the second-order boundary approximation. Numerical analysis shows that
both methods are extremely fast and accurate, with the latter method more accurate than the former. Closed-form approximations for important Greeks are also derived. Because our approximation
methods enable the accurate pricing of a bulk volume of spread options on two or more assets in real time, it offers traders a potential edge in a dynamic market environment.
In the third part of this thesis, we propose a market-based valuation framework for valuing natural gas storage facility with realistic operational characteristics. The operational process is modeled as a multi-stage stochastic optimization problem. We develop a Gaussian quadrature scheme to solve for the dynamically
optimal spot trading strategy and show that the computational efficiency of this method exceeds existing approaches in about two orders of magnitude. Furthermore, with this flexible quadrature scheme, we propose to value a gas storage based on a novel hybrid trading strategy that successfully incorporates both spot and
forward trading, thus improving the storage valuation significantly by accounting for both the inter-month and intra-month operational flexibilities and price volatility.
In the fourth part of this work, we develop a continuous-time formulation for power plant valuation in infinite time horizon. We propose a real-option-based model for a power plant to account for the embedded operational flexibility. This model incorporates start-up and shut-down costs as two major operational constraints.
Under this continuous valuation model, spark spread is modeled directly as a continuous stochastic process to take account of the
long term co-integration relationship between electricity and fuel prices. Instead of discretizing the stochastic process, we
preserve continuity of the stochastic spark spread process and work directly with the value function. Closed-form of value function under threshold policy is obtained. The corresponding
optimal operational strategy can then be solved. The advantage of this approach is that it reduces computational complexity while incorporates major operation characteristics. It enables fast
computation of a power plant value that approximates the real market value and sensitivity analysis of the asset value with
respect to the cost parameters of a power plant and the distribution parameters of spark spread.
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Gatang'i, Peter Gatheru. "Effective management of machinery in government-operated hospitals." Thesis, Nelson Mandela Metropolitan University, 2010. http://hdl.handle.net/10948/1237.
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The methodology and the processes that are followed in the maintenance of government-operated district hospitals in the Eastern Cape Province of South Africa are outlined while the strategies that are employed to roll-out the maintenance plan have been investigated. The challenges in managing hospital maintenance are identified so that it can be improved and advice be given on the strategies currently being used. The objectives of the research were to determine the effectiveness of machinery maintenance in government-operated district hospitals. The study has been carried out by investigating 50 district hospitals within the Eastern Cape Province, with the aim of obtaining knowledge of practices in relation to the strategic plans and best practices in the maintenance industry. The following factors identified by the maintenance staff were found to be most important in maintenance management practices; realistic budgets, adherence to occupational health and safety regulations, engagement of qualified and skilled maintenance staff, good record management in relation to the equipment under maintenance, availability of tools and materials and keeping abreast with the latest technologies and trends of machinery advancement. The study also revealed that the majority of the hospitals use a combination of in-house and outsourced personnel during maintenance, the outsourced part being under contract from the National Department of Public Works Repair and Maintenance Plan (RAMP) projects. Service kits and recommended replacement parts for machinery are rarely stocked on the hospital premises while only minor spare parts that include replacement bulbs, electrical fittings, plumbing fittings and paint are readily available. In addition, the maintenance staff members have little or no input in maintenance budgeting, this aspect is controlled by hospital management. For maintenance to be effective, strategic planning that takes into account carefully thought-out maintenance management systems is the first step in the direction of setting out definite tangible objectives and goals. The real challenge lies in the implementation and sustainability of the maintenance management system and the monitoring thereof.
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PORTUGAL, ANDRE LUIZ DE SOUZA. "AN APPLICATION OF REAL OPTIONS THEORY TO THE VALUATION OF A HYDROELECTRIC POWER PLANT." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2007. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=11406@1.
Full textAbstract:
O significativo potencial hídrico do Brasil tem gerado
interesse para
investimentos no setor de geração de energia hidrelétrica.
No entanto, os métodos de
avaliação financeira tradicionalmente utilizados como o
Fluxo de Caixa Descontado
(FCD) não incorporam as opções que os investidores possuem
para gerenciar suas
decisões de investimento de capital, e, em consequência, o
valor do ativo é por vezes
subavaliado. Nessa dissertação, avaliamos, por meio da
utilização da Metodologia das
Opções Reais, a viabilidade financeira de um projeto de
uma usina hidrelétrica cuja
capacidade de geração pode ser expandida ao longo do prazo
da concessão. Para
tanto, foram consideradas as incertezas relacionadas ao
preço da energia, à vazão de
águas na região do projeto, ao fator de perda na geração,
aos indicadores
macroeconômicos TJLP e IGP-M, além da possibilidade do
investimento ser adiado
para uma data futura. Assumindo que o preço spot de
energia segue um processo de
reversão à sua média histórica de longo prazo, o valor das
flexibilidades analisadas
não é significativo. No entanto, a análise de
sensibilidade envolvendo as variáveis
volatilidade e investimento para expansão revelou que o
valor do projeto
aumenta de R$ 1,449 milhões para aproximadamente R$ 1,650
milhões. Dado o alto
grau de incerteza associado à oferta futura de energia
elétrica no Brasil, concluímos
que a Metodologia das Opções Reais oferece uma melhor
estimativa do real valor de
um projeto de investimento flexível, devido à existência
desta incerteza nos
parâmetros utilizados no modelo.The significant hydric potential available in Brazil has been attracting investments in this business area. On the other hand, traditional valuation methods such as Discount Cash Flow (DCF) do not incorporate the value of the options investors possess when managing their capital investment decisions and as a result, the value of these assets may be undervaluated. In this dissertation, we use the Real Options Approach to analyze the financial feasibility of a hydroelectric power plant project that can expand its generation capacity throughout its concession life. We consider uncertainties such as the spot price of energy, the water flow in the construction region of the project, the energy generation loss factor, macroeconomic parameters such as the TJLP interest rate and the IGP-M inflation rate, and also the possibility that the capital investment decision be postponed. Considering that the spot price of energy follows a long-term mean reversion process, the value of the flexibilities analyzed is not significant. Nevertheless, a sensitivity analysis of the volatility and investment required for an expansion parameters shows that the value of this project increases from R$ 1.449 millions to approximately R$ 1.650 millions. Given the high level of uncertainty regarding the future supply of energy in Brazil, we concluded that the Real Options Approach offers a better valuation of a flexible investment project given the uncertainty concerning the parameters used in the model.
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Wang, Yue. "Modelling and simulation study of IGCC power plant with activated carbon-based carbon capture process." Thesis, University of Warwick, 2016. http://wrap.warwick.ac.uk/79967/.
Full textAbstract:
Integrated Gasification Combined Cycle (IGCC) is considered as a viable option for low emission power generation and carbon-dioxide sequestration. Modelling development and simulation study is essential part for the process of IGCC design and development. This PhD project is aiming to conduct the modelling and simulation study of IGCC power plant by building sub-modules such as gasifier, water gas shift reactor, acid gas removal unit, gas turbine and HRSG, etc. and connecting these modules together for the whole process study. In addition, the impact for the integration of IGCC with activated carbons-based pressure swing adsorption carbon capture process is investigated by using a PSA model developed and validated by University of Birmingham. A simplified zero dimension gasification model is developed based on Texaco gasifier and validated by reference and industry data. The model development is based on mass balance, chemical equilibrium and energy balance. The prediction results for syngas contents concentrations are proved to be reasonably acceptable and the syngas contents changes with key input parameters changes are studied. The model is then used to generate a variable syngas stream to study the dynamic performance of the other sub-modules. A one dimension dynamic model based on Shell slagging gasifier is developed. The model can successfully show the characteristics of slag layers formation and the syngas stream change with response to input parameters change. By using step rise of oxygen input and steam blast input, the dynamic performance of syngas temperature, syngas contents, slag mass flow rate and slag layers thickness is analysed and compared. It is found that oxygen input show relative larger impact on gasifier operation than steam blast for the studied working conditions. Auxiliary modules in a gasification enabled plant and combined cycle power plant are modelled with Thermolib Software. Basic principles of this software are introduced. Simplified quench process, WGS with heat recovery, acid gas removal unit, gas turbine, HRSG and electrical generator are modelled by using the blocks from Thermolib. The simulation results show the dynamic changes of key output variables such as power output, syngas temperature and contents concentrations. PSA model developed by UoB based on ACs is introduced and a 9 step 8 beds cycle model is used for the integration with IGCC model. This PSA model can achieve 80.89% CO2 capture rate with 87.33% of N2 recovery rate without any additional equipment. N2 is used to represent H2 for the simulation. Four cases for IGCC integrated with carbon capture are studied for the energy penalty analysis. It is predicted that the efficiency loss for IGCC power plant with 80.89% carbon capture will be 10.96%. The limitations of using N2 to represent H2 for the PSA model are discussed and it is predicted the real efficiency loss will be lower than the simulation results.
9
Hewett, John M. "Corrosion film solubility and suspended particle behaviour of corroding SS316L surfaces in simulated nuclear plant coolant." Thesis, University of Birmingham, 2018. http://etheses.bham.ac.uk//id/eprint/8629/.
Full textAbstract:
A once-through flowing rig built entirely from 316L stainless steel (SS316L) was used to study dissolution and particulate release behaviour of corrosion films on SS316L surfaces in simulated PWR primary coolant. Coolant of pH25C 9-11 was prepared using LiOH in nitrogen-sparged ultrapure water, and pumped at 0.1-2 g/min, under ~100 bar pressure and temperatures up to 300 °C. Flow velocity was at most 6.4 mm/s in 1⁄4” tubing, and 0.13 mm/s in 1” bore tubing where the bulk of the volume resided. Levels of the five most prevalent alloying elements – Fe, Cr, Ni, Mo, Mn – were analysed in rig effluent samples using ICP-MS. Nitrocellulose filters (0.05-3.0 μm) were used at the point of sampling to assess the contribution from particulate and colloidal matter. In most runs, SS316L surfaces of the rig acted as the sole source of corrosion products. Levels of Fe, Cr, and Ni were generally in the low ppb range, consistent with solubility, though transients to higher levels occurred. Levels of Mo and Mn varied with time and flow rate, sometimes exceeding 100 ppb, and cumulative release, particularly of Mo, appeared to be greater than could be accounted for by non-selective oxidation, suggesting leaching from the SS316L subsurface.
10
Rajbansi, A. M. "Capital Allowances on a power generating plant." Diss., University of Pretoria, 2013. http://hdl.handle.net/2263/41571.
Full textAbstract:
South Africa emerged as a country that fought and overcame arduous oppression.. Following the democratic revolution of 1994, the new government regime embarked on an enormous electrification rollout with the mandate of ensuring all households in the country have access to electricity. This did not come without huge challenges and the electricity supply network was already under pressure. This led to load shedding and in turn impeded economic growth. Consequently South Africa requires significant investment in new electricity infrastructure. In order to ensure sustainable economic growth, the provision of reliable electricity is a critical strategic imperative. One of the objectives (according to the Electricity Regulation Act, No. 4 of 2006) is to facilitate investment in the electricity supply industry. To empower and encourage electricity producers, including foreign investors, to enter into the market, it is imperative to critically assess the current tax allowances available for the construction of power station assets within South Africa's domestic shores. In addition, the concept of load shedding is not limited to South Africa, but is a form of reducing demand on the energy generating system and is experienced internationally. To understand the tax incentives offered by international countries to reduce demand on the electricity supply network, will form part of this assessment. Benchmarking will be done on South Africa's domestic tax incentives offered to local electricity generators against international suppliers of electricity.Dissertation (MCom)--University of Pretoria, 2013.
lmchunu2014
Taxation
unrestricted
Books on the topic "Plant and machinery valuation"
1
Derry, C. J. C. Valuation of plant and machinery. Reading: Centre for Advanced Land Use Studies, College of Estate Management, 1985.
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2
Smith, K. R. Ther ating of plant and machinery. Reading: Centre for Advanced Land Use Studies, College of Estate Management, 1985.
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3
Budhbhatti, Kirit. Valuation of plant and machinery: Theory and practice. Karamsad: Kirit Budhbhatti, 1999.
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5
Appraisers, American Society of. Principles of valuation: Machinery and equipment valuation student manual. Herndon, VA: American Society of Appraisers, 2003.
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7
Lesser, William. Valuation of plant variety protection certificates. Ithaca, N.Y: Dept. of Agricultural Economics, New York State College of Agricultural and Life Sciences, Cornell University, 1993.
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8
Verband Deutscher Maschinen- und Anlagenbau. Who makes machinery in Germany: Machinery, plant, systems, information technology : special buyers' guide of German machinery and plant manufacturers. Darmstadt: Verlag Hoppenstedt for Verband Deutscher Maschinen- und Anlagenbau, 1998.
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9
Newbold, Peter. Capital allowances on machinery and plant. London: Institute of Chartered Accountants in England and Wales, 1991.
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10
K, Geitner Fred, ed. Machinery failure analysis and troubleshooting. 3rd ed. Houston, Tex: Gulf Pub. Co., 1997.
Find full textBook chapters on the topic "Plant and machinery valuation"
1
Larkin, Edgar J., and John G. Larkin. "Machinery and Plant." In The Railway Workshops of Britain, 1823–1986, 149–65. London: Palgrave Macmillan UK, 1988. http://dx.doi.org/10.1007/978-1-349-08074-8_11.
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2
Browning, Karen S. "Plant Translational Machinery." In Molecular Biology, 129–51. New York, NY: Springer New York, 2014. http://dx.doi.org/10.1007/978-1-4614-7570-5_8.
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3
Bennion, E. B., G. S. T. Bamford, and A. J. Bent. "Bakery machinery and plant." In The Technology of Cake Making, 321–52. Boston, MA: Springer US, 1997. http://dx.doi.org/10.1007/978-1-4757-6690-5_26.
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4
Rowe, Greg, and Roy Farthing. "Plant and equipment valuation." In Principles and Practice of Property Valuation in Australia, 170–81. 3rd ed. London: Routledge, 2021. http://dx.doi.org/10.1201/9781003049555-chapter14.
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5
Hong, Zonglie, and Desh Pal S. Verma. "Molecular Analysis of the Cell Plate Forming Machinery." In Plant Cell Monographs, 303–20. Berlin, Heidelberg: Springer Berlin Heidelberg, 2007. http://dx.doi.org/10.1007/7089_2007_133.
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Ali, M. H. "Plant: A Machinery of Water Absorption." In Fundamentals of Irrigation and On-farm Water Management: Volume 1, 219–70. New York, NY: Springer New York, 2010. http://dx.doi.org/10.1007/978-1-4419-6335-2_5.
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Castaño-Miquel, Laura, and L. Maria Lois. "Kinetic Analysis of Plant SUMO Conjugation Machinery." In Methods in Molecular Biology, 107–23. New York, NY: Springer New York, 2016. http://dx.doi.org/10.1007/978-1-4939-3759-2_9.
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Castaño-Miquel, Laura, and L. Maria Lois. "Kinetic Analysis of Plant SUMO Conjugation Machinery." In Methods in Molecular Biology, 93–108. New York, NY: Springer US, 2022. http://dx.doi.org/10.1007/978-1-0716-2784-6_8.
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Rothe, Sebastian. "Mean-variance valuation approach for power plants." In Portfolio Analysis of Power Plant Technologies, 57–102. Wiesbaden: Springer Fachmedien Wiesbaden, 2011. http://dx.doi.org/10.1007/978-3-658-24379-1_3.
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Raabe, J. "Prediction of Natural Frequencies in a Hydro Power Plant Supplying an Electric Network by Itself Having a Known Load Type." In Hydraulic Machinery and Cavitation, 779–88. Dordrecht: Springer Netherlands, 1996. http://dx.doi.org/10.1007/978-94-010-9385-9_79.
Full textConference papers on the topic "Plant and machinery valuation"
1
Li, Xianqin, and Suming Li. "A Trust Valuation Model Based on Game Theory in Social Network." In 2016 6th International Conference on Machinery, Materials, Environment, Biotechnology and Computer. Paris, France: Atlantis Press, 2016. http://dx.doi.org/10.2991/mmebc-16.2016.248.
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2
Weber, C., and O. Woll. "Valuation of CHP power plant portfolios using recursive stochastic optimization." In 2006 International Conference on Probabilistic Methods Applied to Power Systems. IEEE, 2006. http://dx.doi.org/10.1109/pmaps.2006.360198.
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3
Otegbulu, A. "Methodological Lapses in Plant and Equipment Valuation among Lagos Valuers." In 18th African Real Estate Society Conference. African Real Estate Society, 2018. http://dx.doi.org/10.15396/afres2018_144.
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Anselmo, Peter C. "Valuation of potash reserves at the Waste Installation Pilot Plant." In the 28th conference. New York, New York, USA: ACM Press, 1996. http://dx.doi.org/10.1145/256562.256947.
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5
Zirkelback, Charles E. "Cogeneration Plant Machinery Design for Maintenance and Reliability." In ASME 1990 International Gas Turbine and Aeroengine Congress and Exposition. American Society of Mechanical Engineers, 1990. http://dx.doi.org/10.1115/90-gt-104.
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This paper describes the major machinery used in a 108 megawatt combined cycle Cogeneration Plant at the Union Carbide’s Seadrift petrochemical complex. Philosophy of design, erection, start-up, and the first year of operation is discussed. Specific machinery problems and their remedies are described.
6
Chen, Jianfu, Yao Liu, Yujun He, Xingyu Pei, and Jianbiao Li. "A Comprehensive Valuation of Virtual Power Plant in Multiple Electricity Markets." In 2018 2nd IEEE Conference on Energy Internet and Energy System Integration (EI2). IEEE, 2018. http://dx.doi.org/10.1109/ei2.2018.8582575.
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Fan, Zhenen. "Application of plant growth simulation algorithm." In 2016 4th International Conference on Machinery, Materials and Computing Technology. Paris, France: Atlantis Press, 2016. http://dx.doi.org/10.2991/icmmct-16.2016.329.
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Hajji, Mustapha, Ouazar Driss, and Nafila El Marzaquioui. "Real Options Valuation of Water Infrastructure the Case of Agadir Desalination Plant." In World Environmental and Water Resources Congress 2017. Reston, VA: American Society of Civil Engineers, 2017. http://dx.doi.org/10.1061/9780784480601.044.
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KOSZEL, Milan, Artur PRZYWARA, Magdalena KACHEL_JAKUBOWSKA, and Artur KRASZKIEWICZ. "Evaluation of the Use of Biogas Plant Digestate as a Fertilizer in Field Cultivation Plant." In IX International ScientificSymposium "Farm Machinery and Processes Management in Sustainable Agriculture". Departament of Machinery Exploittation and Management of Production Processes, University of Life Sciences in Lublin, 2017. http://dx.doi.org/10.24326/fmpmsa.2017.33.
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Adams, Maurice L., and Michael L. Adams. "Successful Vibration Trouble-Shooting of Large Power Plant Rotating Machinery." In ASME 2005 Power Conference. ASMEDC, 2005. http://dx.doi.org/10.1115/pwr2005-50059.
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This paper presents several recent case studies where the application of cutting-edge measurement and computer modeling have been successfully combined to correctly diagnose and fix power plant rotating machinery excessive vibration problems. These case studies include large turbogenerators and feed water pumps. Each case presented here shows an overall trouble-shooting strategy appropriate to the specific problem symptoms, and describes the measurement and computer modeling phases that successfully resolved the specific problem in each case.
Reports on the topic "Plant and machinery valuation"
1
Ballinger, Ronald G., Chun Yun Wang, Andrew Kadak, Neil Todreas, Bradley Mirick, Eli Demetri, and Martin Koronowski. Balance of Plant System Analysis and Component Design of Turbo-Machinery for High Temperature Gas Reactor Systems. Office of Scientific and Technical Information (OSTI), August 2004. http://dx.doi.org/10.2172/828709.
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Gafni, Yedidya, Moshe Lapidot, and Vitaly Citovsky. Dual role of the TYLCV protein V2 in suppressing the host plant defense. United States Department of Agriculture, January 2013. http://dx.doi.org/10.32747/2013.7597935.bard.
Full textAbstract:
TYLCV-Is is a major tomato pathogen, causing extensive crop losses in Israel and the U.S. We have identified a TYLCV-Is protein, V2, which acts as a suppressor of RNA silencing. Intriguingly, the counter-defense function of V2 may not be limited to silencing suppression. Our recent data suggest that V2 interacts with the tomato CYP1 protease. CYP1 belongs to the family of papain-like cysteine proteases which participate in programmed cell death (PCD) involved in plant defense against pathogens. Based on these data we proposed a model for dual action of V2 in suppressing the host antiviral defense: V2 targets SGS3 for degradation and V2 inhibits CYP1 activity. To study this we proposed to tackle three specific objectives. I. Characterize the role of V2 in SGS3 proteasomal degradation ubiquitination, II. Study the effects of V2 on CYP1 maturation, enzymatic activity, and accumulation and, III. Analyze the effects of the CYP1-V2 interaction on TYLCV-Is infection. Here we describe results from our study that support our hypothesis: the involvement of the host's innate immune system—in this case, PCD—in plant defense against TYLCV-Is. Also, we use TYLCV-Is to discover the molecular pathway(s) by which this plant virus counters this defense. Towards the end of our study we discovered an interesting involvement of the C2 protein encoded by TYLCV-Is in inducing Hypersensitive Response in N. benthamianaplants which is not the case when the whole viral genome is introduced. This might lead to a better understanding of the multiple processes involved in the way TYLCV is overcoming the defense mechanisms of the host plant cell. In a parallel research supporting the main goal described, we also investigated Agrobacteriumtumefaciens-encoded F-box protein VirF. It has been proposed that VirF targets a host protein for the UPS-mediated degradation, very much the way TYLCV V2 does. In our study, we identified one such interactor, an Arabidopsistrihelix-domain transcription factor VFP3, and further show that its very close homolog VFP5 also interacted with VirF. Interestingly, interactions of VirF with either VFP3 or VFP5 did not activate the host UPS, suggesting that VirF might play other UPS-independent roles in bacterial infection. Another target for VirF is VFP4, a transcription factor that both VirF and its plant functional homolog VBF target to degradation by UPS. Using RNA-seqtranscriptome analysis we showed that VFP4 regulates numerous plant genes involved in disease response, including responses to viral and bacterial infections. Detailed analyses of some of these genes indicated their involvement in plant protection against Agrobacterium infection. Thus, Agrobacterium may facilitate its infection by utilizing the host cell UPS to destabilize transcriptional regulators of the host disease response machinery that limits the infection.
3
Chamovitz, A. Daniel, and Georg Jander. Genetic and biochemical analysis of glucosinolate breakdown: The effects of indole-3-carbinol on plant physiology and development. United States Department of Agriculture, January 2012. http://dx.doi.org/10.32747/2012.7597917.bard.
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Genetic and biochemical analysis of glucosinolate breakdown: The effects of indole-3-carbinol on plant physiology and development Glucosinolates are a class of defense-related secondary metabolites found in all crucifers, including important oilseed and vegetable crops in the Brassica genus and the well-studied model plant Arabidopsis thaliana. Upon tissue damage, such as that provided by insect feeding, glucosinolates are subjected to catalysis and spontaneous degradation to form a variety of breakdown products. These breakdown products typically have a deterrent effect on generalist herbivores. Glucosinolate breakdown products also contribute to the anti-carcinogenic effects of eating cabbage, broccoli and related cruciferous vegetables. Indole-3-carbinol, a breakdown product of indol-3-ylmethylglucosinolate, forms conjugates with several other plant metabolites. Although some indole-3-carbinol conjugates have known functions in defense against herbivores and pathogens, most play as yet unidentified roles in plant metabolism, and possibly also plant development. At the outset, our proposal had three main hypotheses: (1) There is a specific detoxification pathway for indole-3-carbinol; (2) Metabolites derived from indole-3-carbinol are phloem-mobile and serve as signaling molecules; and (3) Indole-3-carbinol affects plant cell cycle and cell-differentiation pathways. The experiments were designed to enable us to elucidate how indole-3-carbinol and related metabolites affect plants and their interactions with herbivorous insects. We discovered that indole-3- carbinol rapidly and reversibly inhibits root elongation in a dose-dependent manner, and that this inhibition is accompanied by a loss of auxin activity in the root meristem. A direct interaction between indole-3-carbinol and the auxin perception machinery was suggested, as application of indole-3-carbinol rescued auxin-induced root phenotypes. In vitro and yeast-based protein interaction studies showed that indole-3-carbinol perturbs the auxin-dependent interaction of TIR1 with Aux/IAA proteins, supporting the notion that indole-3-carbinol acts as an auxin antagonist. Furthermore, transcript profiling experiments revealed the influence of indole-3-carbinol on auxin signaling in root tips, and indole-3-carbinol also affected auxin transporters. Brief treatment with indole-3-carbinol led to a reduction in the amount of PIN1 and to mislocalization of PIN2. The results indicate that chemicals induced by herbivory, such as indole-3-carbinol, function not only to repel herbivores, but also as signaling molecules that directly compete with auxin to fine tune plant growth and development, which implies transport of indole-3- carbinol that we are as yet unsuccessful in detecting. Our results indicate that plant defensive metabolites also have secondary functions in regulating aspects of plant metabolism, thereby providing diversity in defense-related plant signaling pathways. Such diversity of of signaling by defensive metabolites would be beneficial for the plant, as herbivores and pathogens would be less likely to mount effective countermeasures. We propose that growth arrest can be mediated directly by the herbivory-induced chemicals, in our case, indole-3-carbinol. Thus, glucosinolate breakdown to I3C following herbivory would have two outcomes: (1) Indole-3-carbinaol would inhibit the herbivore, while (2) at the same time inducing growth arrest within the plant. Thus, our results indicate that I3C is a defensive phytohormone that modulates auxin signaling, leading to growth arrest.
4
Stern, David B., and Gadi Schuster. Manipulation of Gene Expression in the Chloroplast: Control of mRNA Stability and Transcription Termination. United States Department of Agriculture, December 1993. http://dx.doi.org/10.32747/1993.7568750.bard.
Full textAbstract:
Chloroplasts are the site of photosynthesis and of other essential biosynthetic activities in plant cells. Chloroplasts are semi-autonomous organelles, since they contain their own genomes and protein biosynthetic machinery, but depend on the coordinate expression of nuclear genes to assemble macromolecular complexes. The bioeingineering of plants requires manipulation of chloroplast gene expression, and thus a knowledge of the molecular mechanisms that modulate mRNA and protein production. In this proposal the heterotrophic green alga Chlamydomonas reinhardtii has been used as a model system to understand the control and interrelationships between transcription termination, mRNA 3' end processing and mRNA stability in chloroplasts. Chlamydomonas is a unique and ideal system in which to address these issues, because the chloroplast can be easily manipulated by genetic transformation techniques. This research uncovered new and important information on chloroplast mRNA 3' end formation and mRNA stability. In particular, the 3' untranslated regions of chloroplast mRNAs were shown not to be efficient transcription terminators. The endonucleolytic site in the 3' untranslated region was characterized by site directed mutagensis and the role of several 3' untranslated regions in modulating RNA stability and translation has been studied. This information will allow us to experimentally manipulate the expression of chloroplast genes in vivo by post-transcriptional mechanisms, and should be widely applicable to other higher plant systems.
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Gafni, Yedidya, and Vitaly Citovsky. Inactivation of SGS3 as Molecular Basis for RNA Silencing Suppression by TYLCV V2. United States Department of Agriculture, November 2013. http://dx.doi.org/10.32747/2013.7593402.bard.
Full textAbstract:
The Israeli isolate of Tomato yellow leaf curl geminivirus(TYLCV-Is) is a major tomato pathogen, causing extensive crop losses in Israel and in the south-eastern U.S. Yet, little is known about the molecular mechanisms of its interaction with tomato cells. One of the most interesting aspects of such interaction is how the invading virus counteracts the RNA silencing response of the plant. In the former BARD project, we have shown that TYLCV-Is V2 protein is an RNA silencing suppressor, and that this suppression is carried out via the interaction of V2 with the SGS3 component of the plant RNA silencing machinery. This reported project was meant to use our data as a foundation to elucidate the molecular mechanism by which V2 affects the SGS3 activity. While this research is likely to have an important impact on our understanding of basic biology of virus-plant interactions and suppression of plant immunity, it also will have practical implications, helping to conceive novel strategies for crop resistance to TYLCV-Is. Our preliminary data in regard to V2 activities and our present knowledge of the SGS3 function suggest likely mechanisms for the inhibitory effect of V2 on SGS3. We have shown that V2 possess structural and functional hallmarks of an F-box protein, suggesting that it may target SGS3 for proteasomal degradation. SGS3 contains an RNA-binding domain and likely functions to protect the cleavage produces of the primary transcript for subsequent conversion to double-stranded forms; thus, V2 may simply block the RNA binding activity of SGS3. V2 may also employ a combination of these mechanisms. These and other possibilities were tested in this reported project.
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Citovsky, Vitaly, and Yedidya Gafni. Suppression of RNA Silencing by TYLCV During Viral Infection. United States Department of Agriculture, December 2009. http://dx.doi.org/10.32747/2009.7592126.bard.
Full textAbstract:
The Israeli isolate of Tomato yellow leaf curl geminivirus (TYLCV-Is) is a major tomato pathogen, causing extensive (up to 100%) crop losses in Israel and in the south-eastern U.S. (e.g., Georgia, Florida). Surprisingly, however, little is known about the molecular mechanisms of TYLCV-Is interactions with tomato cells. In the current BARD project, we have identified a TYLCV-Is protein, V2, which acts as a suppressor of RNA silencing, and showed that V2 interacts with the tomato (L. esculentum) member of the SGS3 (LeSGS3) protein family known to be involved in RNA silencing. This proposal will use our data as a foundation to study one of the most intriguing, yet poorly understood, aspects of TYLCV-Is interactions with its host plants – possible involvement of the host innate immune system, i.e., RNA silencing, in plant defense against TYLCV-Is and the molecular pathway(s) by which TYLCV-Is may counter this defense. Our project sought two objectives: I. Study of the roles of RNA silencing and its suppression by V2 in TYLCV-Is infection of tomato plants. II. Study of the mechanism by which V2 suppresses RNA silencing. Our research towards these goals has produced the following main achievements: • Identification and characterization of TYLCV V2 protein as a suppressor of RNA silencing. (#1 in the list of publications). • Characterization of the V2 protein as a cytoplasmic protein interacting with the plant protein SlSGS3 and localized mainly in specific, not yet identified, bodies. (#2 in the list of publications). • Development of new tools to study subcellular localization of interacting proteins (#3 in the list of publications). • Characterization of TYLCV V2 as a F-BOX protein and its possible role in target protein(s) degradation. • Characterization of TYLCV V2 interaction with a tomato cystein protease that acts as an anti-viral agent. These research findings provided significant insights into (I) the suppression of RNA silencing executed by the TYLCV V2 protein and (II) characterization some parts of the mechanism(s) involved in this suppression. The obtained knowledge will help to develop specific strategies to attenuate TYLCV infection, for example, by blocking the activity of the viral suppressor of gene silencing thus enabling the host cell silencing machinery combat the virus.
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Handa, Avtar K., Yuval Eshdat, Avichai Perl, Bruce A. Watkins, Doron Holland, and David Levy. Enhancing Quality Attributes of Potato and Tomato by Modifying and Controlling their Oxidative Stress Outcome. United States Department of Agriculture, May 2004. http://dx.doi.org/10.32747/2004.7586532.bard.
Full textAbstract:
General The final goal and overall objective of the current research has been to modify lipid hydroperoxidation in order to create desirable phenotypes in two important crops, potato and tomato, which normally are exposed to abiotic stress associated with such oxidation. The specific original objectives were: (i) the roles of lipoxygenase (LOX) and phospholipids hydroperoxide glutathione peroxidase (PHGPx) in regulating endogenous levels of lipid peroxidation in plant tissues; (ii) the effect of modified lipid peroxidation on fruit ripening, tuber quality, crop productivity and abiotic stress tolerance; (iii) the effect of simultaneous reduction of LOX and increase of PHGPx activities on fruit ripening and tuber quality; and (iv) the role of lipid peroxidation on expression of specific genes. We proposed to accomplish the research goal by genetic engineering of the metabolic activities of LOX and PHGPx using regulatable and tissue specific promoters, and study of the relationships between these two consecutive enzymes in the metabolism and catabolism of phospholipids hydroperoxides. USA Significant progress was made in accomplishing all objectives of proposed research. Due to inability to regenerate tomato plants after transforming with 35S-PHGPx chimeric gene construct, the role of low catalase induced oxidative stress instead of PHGPx was evaluated on agronomical performance of tomato plant and fruit quality attributes. Effects of polyamine, that protects DNA from oxidative stress, were also evaluated. The transgenic plants under expressing lipoxygenase (LOX-sup) were crossed with catalase antisense (CAT-anti) plants or polyamine over producing plants (SAM-over) and the lines homozygous for the two transgenes were selected. Agronomical performance of these line showed that low catalase induced oxidative stress negatively affected growth and development of tomato plants and resulted in a massive change in fruit gene expression. These effects of low catalase activity induced oxidative stress, including the massive shift in gene expression, were greatly overcome by the low lipoxygenase activity. Collectively results show that oxidative stress plays significant role in plant growth including the fruit growth. These results also for the first time indicated that a crosstalk between oxidative stress and lipoxygenase regulated processes determine the outcome during plant growth and development. Israel Regarding PHGPx, most of the study has concentrated on the first and the last specific objectives, since it became evident that plant transformation with this gene is not obvious. Following inability to achieve efficient transformation of potato and tomato using a variety of promoters, model plant systems (tobacco and potato cell cultures, tobacco calli and plantlets, and Arabidopsis) were used to establish the factors and to study the obstacles which prohibited the regeneration of plants carrying the genetic machinery for overproduction of PHGPx. Our results clearly demonstrate that while genetic transformation and over-expression of PHGPx occurs in pre-developmental tissue stage (cell culture, calli clusters) or in completed plant (Arabidopsis), it is likely that over-expression of this enzyme before tissue differentiation is leading to a halt of the regeneration process. To support this assumption, experiments, in which genetic engineering of a point-mutated PHGPx gene enable transformation and over-expression in plants of PhSPY modified in its catalytic site and thus inactive enzymatically, were successfully carried out. These combined results strongly suggest, that if in fact, like in animals and as we established in vitro, the plant PHGPx exhibits PH peroxidase activity, these peroxides are vital for the organisms developmental process.
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Wilson, Thomas E., Avraham A. Levy, and Tzvi Tzfira. Controlling Early Stages of DNA Repair for Gene-targeting Enhancement in Plants. United States Department of Agriculture, March 2012. http://dx.doi.org/10.32747/2012.7697124.bard.
Full textAbstract:
Gene targeting (GT) is a much needed technology as a tool for plant research and for the precise engineering of crop species. Recent advances in this field have shown that the presence of a DNA double-strand break (DSB) in a genomic locus is critical for the integration of an exogenous DNA molecule introduced into this locus. This integration can occur via either non-homologous end joining (NHEJ) into the break or homologous recombination (HR) between the broken genomic DNA and the introduced vector. A bottleneck for DNA integration via HR is the machinery responsible for homology search and strand invasion. Important proteins in this pathway are Rad51, Rad52 and Rad54. We proposed to combine our respective expertise: on the US side, in the design of zincfinger nucleases (ZFNs) for the induction of DNA DSBs at any desired genomic locus and in the integration of DNA molecules via NHEJ; and on the Israeli side in the HR events, downstream of the DSB, that lead to homology search and strand invasion. We sought to test three major pathways of targeted DNA integration: (i) integration by NHEJ into DSBs induced at desired sites by specially designed ZFNs; (ii) integration into DSBs induced at desired sites combined with the use of Rad51, Rad52 and Rad54 proteins to maximize the chances for efficient and precise HR-mediated vector insertion; (iii) stimulation of HR by Rad51, Rad52 and Rad54 in the absence of DSB induction. We also proposed to study the formation of dsT-DNA molecules during the transformation of plant cells. dsT-DNA molecules are an important substrate for HR and NHEJ-mediatedGT, yet the mode of their formation from single stranded T-DNA molecules is still obscure. In addition we sought to develop a system for assembly of multi-transgene binary vectors by using ZFNs. The latter may facilitate the production of binary vectors that may be ready for genome editing in transgenic plants. ZFNs were proposed for the induction of DSBs in genomic targets, namely, the FtsH2 gene whose loss of function can easily be identified in somatic tissues as white sectors, and the Cruciferin locus whose targeting by a GFP or RFP reporter vectors can give rise to fluorescent seeds. ZFNs were also proposed for the induction of DSBs in artificial targets and for assembly of multi-gene vectors. We finally sought to address two important cell types in terms of relevance to plant transformation, namely GT of germinal (egg) cells by floral dipping, and GT in somatic cells by root and leave transformation. To be successful, we made use of novel optimized expression cassettes that enable coexpression of all of the genes of interest (ZFNs and Rad genes) in the right tissues (egg or root cells) at the right time, namely when the GT vector is delivered into the cells. Methods were proposed for investigating the complementation of T-strands to dsDNA molecules in living plant cells. During the course of this research, we (i) designed, assembled and tested, in vitro, a pair of new ZFNs capable of targeting the Cruciferin gene, (ii) produced transgenic plants which expresses for ZFN monomers for targeting of the FtsH2 gene. Expression of these enzymes is controlled by constitutive or heat shock induced promoters, (iii) produced a large population of transgenic Arabidopsis lines in which mutated mGUS gene was incorporated into different genomic locations, (iv) designed a system for egg-cell-specific expression of ZFNs and RAD genes and initiate GT experiments, (v) demonstrated that we can achieve NHEJ-mediated gene replacement in plant cells (vi) developed a system for ZFN and homing endonuclease-mediated assembly of multigene plant transformation vectors and (vii) explored the mechanism of dsTDNA formation in plant cells. This work has substantially advanced our understanding of the mechanisms of DNA integration into plants and furthered the development of important new tools for GT in plants.
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Lers, Amnon, and Pamela J. Green. LX Senescence-Induced Ribonuclease in Tomato: Function and Regulation. United States Department of Agriculture, September 2003. http://dx.doi.org/10.32747/2003.7586455.bard.
Full textAbstract:
Natural leaf senescence, which occurs even when growth conditions are near optimal, has a negative influence on yield. Postharvest induced senescence contributes to the losses of quality in flowers, foliage, and vegetables. Strategies designed to control the senescence process in crop plants could therefore have great applied significance. However, the successful design of such strategies requires a better insight into the senescence machinery and control in higher plants. A main feature of senescence is the hydrolysis of macromolecules by hydrolases of various types such as ribonucleases (RNases) and proteases. Previously we had identified and characterized the tomato LX RNase gene demonstrating its transcript to be highly and specifically induced during senescence. This reported study was focused on LX but also had broadened our research to other senescence-associated nucleic acids degrading enzymes to learn about their function and the regulation of their encoding genes. Beside tomato we used parsley and Arabidopsis for the study of: the bi-functional nuclease which has a role in senescence. The study of different senescence- associated nucleases in few plant systems will allow a more general view on function and regulation of these enzymes in senescence. The specific original proposed objectives included: 1. Study the consequences of alterations in LX RNase level on tomato leaf senescence and general development; 2. Analyze stimuli which may participate in senescence-specific activation of the LX gene; 3. Clone the senescence-associated BFNI nuclease gene homologue from tomato. 4. Further characterize the sequences required for senescence-specific gene expression. Homozygous transgenic plants in which LX gene was either inhibited or over-expressed were generated. In both of these LX mutated plants no major phenotypic consequences were observed, which may suggests that LX is not essential for plant growth under optimal growth conditions. Lack of any abnormalities in the LX over-expressing lines suggests that special system exist to allow function of the RNase only when needed. Detailed analyses of growth under stress and consequences to RNA metabolism are underway. We have analyzed LX expression on the protein level demonstrating that it is involved also in petal senescing. Our results suggest that LX is responding to complex regulation involving developmental, organ dependent factors and responds differently to hormonal or environmental stimuli in the different plant organs. The cloned 1.4 kb promoter was cloned and its analysis revealed that probably not all required elements for senescence induction are included. Biochemical analysis of senescence-associated be-functional nucleases in the different plants, tomato, parsley and Arabidopsis, suggests they belong to a sub-class within the type I plant nucleases. The parsley PcNUC1/2 nuclease protein was purified from senescing leaves its and activity was studied in vitro revealing endo-, double strand, nucleolytic activity and exo-nucleolytic activity. Its encoding gene was cloned and found to be induced on the mRNA level. The promoter of the related Arabidopsis BFNI nuclease was shown in both tomato and Arabidopsis to be able and direct senescence-specific expression suggesting that, at least part, the gene is regulated on the transcriptional level and that the mechanism for this senescence-specific regulation is conserved between different plants. Few plants in which the BFNI gene is mutated were identified which are subjected now to detailed analysis. Our results suggest that the senescence-related nucleic acid degrading enzymes share similarities in both function and regulation between different plants and possibly have important functions in processes un-related to senescence. Still, the function of these enzymes, at least in some cases is not essential to plant development under optimal growth conditions. We are now at the stage which permits in depth investigation of the specific functions and mode of molecular regulation of senescence-associated nucleases with the aid of the research tools developed. The isolated senescence-specific promoter, shown to be active in heterologous plant system, could be utilized in agricultural-related biotechnological applications for retardation of senescence.
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Bar-Joseph, Moshe, William O. Dawson, and Munir Mawassi. Role of Defective RNAs in Citrus Tristeza Virus Diseases. United States Department of Agriculture, September 2000. http://dx.doi.org/10.32747/2000.7575279.bard.
Full textAbstract:
This program focused on citrus tristeza virus (CTV), the largest and one of the most complex RNA-plant-viruses. The economic importance of this virus to the US and Israeli citrus industries, its uniqueness among RNA viruses and the possibility to tame the virus and eventually turn it into a useful tool for the protection and genetic improvement of citrus trees justify these continued efforts. Although the overall goal of this project was to study the role(s) of CTV associated defective (d)-RNAs in CTV-induced diseases, considerable research efforts had to be devoted to the engineering of the helper virus which provides the machinery to allow dRNA replication. Considerable progress was made through three main lines of complementary studies. For the first time, the generation of an engineered CTV genetic system that is capable of infecting citrus plants with in vitro modified virus was achieved. Considering that this RNA virus consists of a 20 kb genome, much larger than any other previously developed similar genetic system, completing this goal was an extremely difficult task that was accomplished by the effective collaboration and complementarity of both partners. Other full-length genomic CTV isolates were sequenced and populations examined, resulting in a new level of understanding of population complexities and dynamics in the US and Israel. In addition, this project has now considerably advanced our understanding and ability to manipulate dRNAs, a new class of genetic elements of closteroviruses, which were first found in the Israeli VT isolate and later shown to be omnipresent in CTV populations. We have characterized additional natural dRNAs and have shown that production of subgenomic mRNAs can be involved in the generation of dRNAs. We have molecularly cloned natural dRNAs and directly inoculated citrus plants with 35S-cDNA constructs and have shown that specific dRNAs are correlated with specific disease symptoms. Systems to examine dRNA replication in protoplasts were developed and the requirements for dRNA replication were defined. Several artificial dRNAs that replicate efficiently with a helper virus were created from infectious full-genomic cDNAs. Elements that allow the specific replication of dRNAs by heterologous helper viruses also were defined. The T36-derived dRNAs were replicated efficiently by a range of different wild CTV isolates and hybrid dRNAs with heterologous termini are efficiently replicated with T36 as helper. In addition we found: 1) All CTV genes except of the p6 gene product from the conserved signature block of the Closteroviridae are obligate for assembly, infectivity, and serial protoplast passage; 2) The p20 protein is a major component of the amorphous inclusion bodies of infected cells; and 3) Novel 5'-Co-terminal RNAs in CTV infected cells were characterized. These results have considerably advanced our basic understanding of the molecular biology of CTV and CTV-dRNAs and form the platform for the future manipulation of this complicated virus. As a result of these developments, the way is now open to turn constructs of this viral plant pathogen into new tools for protecting citrus against severe CTV terms and development of virus-based expression vectors for other citrus improvement needs. In conclusion, this research program has accomplished two main interconnected missions, the collection of basic information on the molecular and biological characteristics of the virus and its associated dRNAs toward development of management strategies against severe diseases caused by the virus and building of novel research tools to improve citrus varieties. Reaching these goals will allow us to advance this project to a new phase of turning the virus from a pathogen to an ally.