Word: projected
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Dates: during 2000-2009
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...Problems to Fix Six years on, though, the project is already three years behind schedule, $2 billion over the initial $4.2 billion budget, and the focus of international arbitration and other legal wranglings as TVO, Areva and other companies involved seek compensation for escalating costs. Analysts say many of the problems stem from Areva's impossibly low bid. "Though getting the world's first third-generation reactor completed will give Areva some big advantages over rivals, the Finnish project has cost it a lot in terms of credibility, and a lot of people are looking on saying: 'You mean...
...benefited from nuclear power's second coming as much as any other company. But its 2008 profits - $824 million on $18.4 billion in sales - were down 17% from 2007, due mostly to a whopping $2.4 billion write-down linked to construction troubles with its Finland reactor. The Finnish project was supposed to showcase Areva's third-generation earthquake- and missile-proof design, known as a European Pressurized Reactor (EPR). Areva beat out Westinghouse and General Electric-Hitachi in 2003 to win a contract with Finland's main utility Teollisuuden Voima Oyj (TVO) to build the plant. GE-Hitachi, Mitsubishi...
...need all her savvy in the months ahead. Besides getting its Finnish project back on track, Areva's biggest concern is money. The company needs about $14 billion in capital to finance its business for the next several years - and another $2.8 billion to buy Siemens' joint-venture stake. Spinetta's plan calls for the state to sell 15% of Areva to new investors. Leading potential buyers include Mitsubishi - a frequent Areva partner - and Abu Dhabi's flush sovereign wealth funds. (Read: "Abu Dhabi: An Oil Giant Dreams Green...
...other things, helping to find work for jobless women, paving streets to make them high-heel friendly, building more women's public restrooms, improving lighting in public spaces, creating safe parks for women, expanding a women's taxi service and adding more public day-care centers. Cho says the project aims to eliminate "the inconveniences, anxiety and discomfort that women in Seoul experience on a daily basis." (See 10 things to do in Seoul...
...places pink throughout the city, with thousands more slated to go under the brush next year. The pink parking spots, reserved for women drivers so they don't have to walk so far to work or the mall, are part of the South Korean capital's Women Friendly Seoul Project, an effort for the notoriously macho Asian city of more than 10 million to transform itself into a safer, more heel-friendly "space for women...