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Aldo Sesia - One of the best experts on this subject based on the ideXlab platform.

  • an overview of project finance and infrastructure finance 2009 update
    Social Science Research Network, 2007
    Co-Authors: Benjamin C Esty, Aldo Sesia
    Abstract:

    Provides an introduction to the fields of project finance and infrastructure finance, and gives a statistical overview of project-financed investments over the years from 2005 to 2009. Examples of project-financed investments include the $1.4 billion Mozal Aluminum Smelter in Mozambique, $4 billion Chad-Cameroon pipeline, $6 billion Iridium global satellite telecommunications system, 900 million A2 Toll Road in Poland, $20 billion Sakhalin II gas field in Russia, and the $28 billion Dabhol power project. Globally, firms financed $240 billion of capital expenditures using project finance in 2009, down from $409 billion in 2008 as the financial crisis hit the Western markets. The use of project finance has grown at a compound rate of 0% over the last five years, 4% over the past 10 years, and 12% over the past 15 years. This note focuses primarily on private sector investment in industrial and infrastructure projects, and contains four sections. The first section defines project finance and contrasts it with other well-known financing mechanisms. The second section describes the evolution of project finance from its beginnings in the natural resources industry in the 1970s, to the U.S. power industry in the 1980s, to a much wider range of industry applications and geographic locations in the 1990s, and most recently to infrastructure finance in the 2000s. The third section provides a statistical overview of project-financed investment over the last five years (2005 to 2009), and looks at industry, project, and participant specific data. The third section also provides recent data on infrastructure investments and public-private partnerships. The final section discusses current and likely future trends.

  • an overview of project finance 2004 update
    Social Science Research Network, 2005
    Co-Authors: Benjamin C Esty, Aldo Sesia
    Abstract:

    SUBJECT AREAS: project finance, capital investment This note provides an introduction to the field of project finance and a statistical overview of project-financed investments over the last five years. Examples of project-financed investments include the $4 billion Chad-Cameroon pipeline, $6 billion Iridium global satellite telecommunications system, Euro 900 million A2 Toll Road in Poland, and the $1.4 billion Mozal Aluminum Smelter in Mozambique. Globally, firms financed $234 billion of capital expenditures using project finance in 2004, up from $172 billion in 2003. Despite a few setbacks (e.g., in 1998 due to the Asian crisis and in 2002 due to crises in the U.S. power and telecommunications industries), the use of project finance has grown at a compound rate of almost 20% over the past 10 years. The note begins by defining project finance and contrasting it with other well-known financing mechanisms such as asset-back securities and secured debt. The next section describes the evolution of project finance from its origins in the natural resources industry in the 1970s to the U.S. power industry in the 1980s and to a much wider range of industrial applications and geographic settings in the 1990s and 2000s. The third section provides a statistical overview of the project-financed investment over the last five years (2000-2004). It covers a variety of institutional details at the industry, project, and participant level. For example, it presents data on the average size of projects ($400 million) and their capitalization (69% debt-to-total capital) as well as league tables for project loans, project bonds, and advisory work. The final section discusses current and likely future trends. This note can be used by itself to explain project finance or in conjunction with specific cases on project finance.

Nhu D Le - One of the best experts on this subject based on the ideXlab platform.

  • chronic and acute effects of coal tar pitch exposure and cardiopulmonary mortality among Aluminum Smelter workers
    American Journal of Epidemiology, 2010
    Co-Authors: Melissa C Friesen, Ellen A Eisen, Paul A Demers, John J Spinelli, Maria Lorenzi, Nhu D Le
    Abstract:

    Air pollution causes a wide range of adverse cardiovascular effects, from inflammation identified in biomarkers to increased mortality (1, 2). Its adverse effects have been associated with both short- and long-term exposure to particulate matter (1, 3), more specifically particulate matter from combustion rather than crustal sources (4, 5). Combustion-based particulate matter carries metals and reactive organic compounds, including polycyclic aromatic hydrocarbons (PAHs), on its surface (1). Particulate matter and PAH exposures are prevalent in occupational settings at levels 1–3 orders of magnitude higher than those in environmental settings, yet occupational studies have been less conclusive. Some studies have demonstrated elevated heart disease mortality with PAH-exposed jobs in industries with exposure to combustion productions, including Aluminum smelting (6, 7), chimney sweeping (8), and gas work (9). However, heart disease mortality rates in occupational cohorts are typically lower than those in the general population (6, 10, 11). The strongest evidence thus far is from a cohort of European asphalt pavers: Burstyn et al. (12) reported monotonic exposure-response relations between quantitative PAH exposure and fatal heart disease in internal comparisons. Recent morbidity studies add to the growing occupational evidence, with adverse cardiovascular effects with particulate matter and PAH exposure being identified using biomarkers of cardiovascular disease, such as markers of inflammation, blood pressure, and heart rate variability (1, 13–15). In this paper, we examine heart disease mortality in a cohort of Aluminum Smelter workers in British Columbia, Canada. We expand on the previously reported study of acute myocardial infarction (AMI) mortality in this cohort (16) to include all causes of ischemic heart disease (IHD); and for the first time in an occupational setting, we examine heart disease exposure-response relations with both acute and chronic exposure to benzo[a]pyrene (B(a)P). We also report on the relative mortality risk for heart disease and other chronic diseases as compared with the British Columbia general population, and we examine exposure-response relations with chronic respiratory diseases and cerebrovascular disease.

Benjamin C Esty - One of the best experts on this subject based on the ideXlab platform.

  • an overview of project finance and infrastructure finance 2009 update
    Social Science Research Network, 2007
    Co-Authors: Benjamin C Esty, Aldo Sesia
    Abstract:

    Provides an introduction to the fields of project finance and infrastructure finance, and gives a statistical overview of project-financed investments over the years from 2005 to 2009. Examples of project-financed investments include the $1.4 billion Mozal Aluminum Smelter in Mozambique, $4 billion Chad-Cameroon pipeline, $6 billion Iridium global satellite telecommunications system, 900 million A2 Toll Road in Poland, $20 billion Sakhalin II gas field in Russia, and the $28 billion Dabhol power project. Globally, firms financed $240 billion of capital expenditures using project finance in 2009, down from $409 billion in 2008 as the financial crisis hit the Western markets. The use of project finance has grown at a compound rate of 0% over the last five years, 4% over the past 10 years, and 12% over the past 15 years. This note focuses primarily on private sector investment in industrial and infrastructure projects, and contains four sections. The first section defines project finance and contrasts it with other well-known financing mechanisms. The second section describes the evolution of project finance from its beginnings in the natural resources industry in the 1970s, to the U.S. power industry in the 1980s, to a much wider range of industry applications and geographic locations in the 1990s, and most recently to infrastructure finance in the 2000s. The third section provides a statistical overview of project-financed investment over the last five years (2005 to 2009), and looks at industry, project, and participant specific data. The third section also provides recent data on infrastructure investments and public-private partnerships. The final section discusses current and likely future trends.

  • an overview of project finance 2004 update
    Social Science Research Network, 2005
    Co-Authors: Benjamin C Esty, Aldo Sesia
    Abstract:

    SUBJECT AREAS: project finance, capital investment This note provides an introduction to the field of project finance and a statistical overview of project-financed investments over the last five years. Examples of project-financed investments include the $4 billion Chad-Cameroon pipeline, $6 billion Iridium global satellite telecommunications system, Euro 900 million A2 Toll Road in Poland, and the $1.4 billion Mozal Aluminum Smelter in Mozambique. Globally, firms financed $234 billion of capital expenditures using project finance in 2004, up from $172 billion in 2003. Despite a few setbacks (e.g., in 1998 due to the Asian crisis and in 2002 due to crises in the U.S. power and telecommunications industries), the use of project finance has grown at a compound rate of almost 20% over the past 10 years. The note begins by defining project finance and contrasting it with other well-known financing mechanisms such as asset-back securities and secured debt. The next section describes the evolution of project finance from its origins in the natural resources industry in the 1970s to the U.S. power industry in the 1980s and to a much wider range of industrial applications and geographic settings in the 1990s and 2000s. The third section provides a statistical overview of the project-financed investment over the last five years (2000-2004). It covers a variety of institutional details at the industry, project, and participant level. For example, it presents data on the average size of projects ($400 million) and their capitalization (69% debt-to-total capital) as well as league tables for project loans, project bonds, and advisory work. The final section discusses current and likely future trends. This note can be used by itself to explain project finance or in conjunction with specific cases on project finance.

O V Shergina - One of the best experts on this subject based on the ideXlab platform.

  • pinus sylvestris as a bio indicator of territory pollution from Aluminum Smelter emissions
    Environmental Science and Pollution Research, 2017
    Co-Authors: O V Kalugina, T A Mikhailova, O V Shergina
    Abstract:

    The study demonstrates the efficiency of using Pinus sylvestris L. as a bio-indicator of polluting substances that enter the environment with the emission of a large Aluminum Smelter. Recent research has demonstrated that pollution from Aluminum Smelter emissions covers a vast territory. The highest content of polluting elements is registered at a distance of 3 km from the Smelter, with maximum concentrations found in the industrial zone (0.5 km from the Smelter). The farther from the Aluminum Smelter, the lower the amount of polluting elements in the needles, although the F level still exceeds the background values at a distance of about 60 km from the source, the levels of Zn, Pb, and Cd up to 50 km, S up to 40 km, and Fe and Cu up to 35 km mostly in north-eastern and south-eastern directions correlating with prevailing atmospheric transfer of the emissions. Pollution with polycyclic aromatic hydrocarbons (PAHs) is also most expressed at a distance of 3 km from the Smelter, then it gradually decreases to coincide with background concentrations at a distance of more than 60 km. This is confirmed by changes in overall PAH content and in qualitative and quantitative compositions of individual PAHs. The greatest number of components (17 substances) has been found in samples from the territory of the plant area: phenanthrene, fluoranthene, pyrene, chrysene, acenaphthylene, acenaphthene, anthracene, fluorene, benz[а]anthracene, benz[b]fluoranthene, benz[k]fluoranthene, benz[а]pyrene, benz[е]pyrene, perylene, indeno[1,2,3-c,d]pyrene, benz[g,h,i]perylene, and dibenz[a,h]anthracene. The farther away from the plant, the lower the number of components detected in PAH fraction, mainly due to the fact that the concentrations of most toxic PAHs with five or six aromatic rings (benz[b]fluoranthene, benz[k]fluoranthene, benz[а]pyrene, benz[е]pyrene, perylene, indeno[1,2,3-c,d]pyrene, benz[g,h,i]perylene, dibenz[a,h]anthracene) fall below the method detection limit. High concentrations of benz[а]pyrene and perylene in pine needles at the territories adjacent to the Aluminum Smelter confirm the technogenic character of forest pollution by PAHs.

  • Technogenic pollution of pine forests by polycyclic aromatic hydrocarbons
    Russian Academy of Sciences Siberian Branch Publishing House, 2015
    Co-Authors: O V Kalugina, T A Mikhailova, E. N. Taranenko, O V Shergina
    Abstract:

    Anthropogenic pollution of boreal forests by polycyclic aromatic hydrocarbons was assessed by polycyclic aromatic hydrocarbon (PAH) concentrations in needles of Scots pine (Pinus sylvestris L.) trees growing in the vicinity of the Bratsk aluminium Smelter – one of the largest aluminium Smelters in the world. The fieldwork was performed in 2012–2013 on 34 index plots, set in mixed herb and sedge-mixed herb pine forests (mostly site class III). It is shown that the total accumulation of PAHs reaches its highest level (more than 6000 ng/g) in pine needle samples collected at sites up to 3 km from the aluminium Smelter. PAH total quantity decreases with increasing the distance from the pollution source and at a distance of 50 km reaches values close to background ones. The highest concentrations of PAHs were detected in needle samples collected at plots located from the plant in a direction corresponding to the prevailing emissions transfer. There was also detected a significant difference in compositions of individual PAHs: there were 18 compounds identified in samples collected near the aluminium Smelter whereas only 6 compounds were identified in samples collected on the background territories. Among the PAHs accumulated in pine trees assimilation organs the substances with 3–4 aromatic rings (phenanthrene, fluoranthene, pyrene, chrysene) were dominant with their total number reaching 90 % of the total. Compound with 5–6 aromatic rings (benzo[b]fluoranthene, benzo[k]fluoranthene, benzo[a]pyrene, benzo[e]pyrene, perylene, indeno[1,2,3-c,d]pyrene, benzo[g, h, i]perylene, dibenz[a, h]anthracene).comprises a smaller proportion (from 6 to 27 %) in total PAHs content. High concentrations of benzo[a]pyrene and perylene in needle samples collected in the vicinity of the Aluminum Smelter indicate technogenic character of forest pollution

Jeffrey Brook - One of the best experts on this subject based on the ideXlab platform.

  • Additional file 9: of Contrasting biological potency of particulate matter collected at sites impacted by distinct industrial sources
    2016
    Co-Authors: Errol Thomson, Dalibor Breznan, Subramanian Karthikeyan, Christine Mackinnon-roy, Ngoc Vuong, Ewa Dabek-zlotorzynska, Valbona Celo, Jean-pierre Charland, Prem Kumarathasan, Jeffrey Brook
    Abstract:

    Inflammatory response to field blank filter extracts. Hierarchical clustering of particles according to cytokine response in J774A.1 cells exposed to field blank filter extracts. The heat map displays particle potency estimates determined for each cytokine from the slope of the dose-effect relationship. Red, increased expression; green, decreased expression. bHB, field blank from Hamilton Beach steel mill; bMA, field blank from MontrĂŠal petrochemical refinery; MC, field blank from MontrĂŠal copper Smelter; SR, field blank from Sarnia petrochemical refinery; SW, field blank from Shawinigan Aluminum Smelter. (PDF 84 kb

  • Additional file 7: of Contrasting biological potency of particulate matter collected at sites impacted by distinct industrial sources
    2016
    Co-Authors: Errol Thomson, Dalibor Breznan, Subramanian Karthikeyan, Christine Mackinnon-roy, Ngoc Vuong, Ewa Dabek-zlotorzynska, Valbona Celo, Jean-pierre Charland, Prem Kumarathasan, Jeffrey Brook
    Abstract:

    Cytotoxic responses of A549 cells to 24 h exposure to size-fractionated particulate matter collected in the vicinity of industrial sites according to the resazurin reduction assay. Metabolic reduction of non-fluorescent resazurin in A549 cells exposed for 24 h to size-fractionated and standard reference particles (left-side) and extracts from corresponding field blank filters that were transported to each site but remained unexposed to ambient air (right-side). Values are presented as average fold-effect (FE) over control ± standard error (n = 3 independent experiments). HB, Hamilton Beach steel mill; MA, Montréal AIEM petrochemical refinery; MC, Montréal copper Smelter; SR, Sarnia petrochemical refinery; SW, Shawinigan Aluminum Smelter. Size-fractionated and standard reference particles. Three-way ANOVA (Size-fractionated particles): Site x Size (p 

  • Additional file 5: of Contrasting biological potency of particulate matter collected at sites impacted by distinct industrial sources
    2016
    Co-Authors: Errol Thomson, Dalibor Breznan, Subramanian Karthikeyan, Christine Mackinnon-roy, Ngoc Vuong, Ewa Dabek-zlotorzynska, Valbona Celo, Jean-pierre Charland, Prem Kumarathasan, Jeffrey Brook
    Abstract:

    Cytotoxic responses of J774A.1 cells to 24 h exposure to size-fractionated particulate matter collected in the vicinity of industrial sites according to the resazurin reduction assay. Metabolic reduction of non-fluorescent resazurin in J774A.1 cells exposed for 24 h to size-fractionated and standard reference particles (left side) and extracts from corresponding field blank filters that were transported to each site but remained unexposed to ambient air (right side). Values are presented as average fold-effect (FE) over control ± standard error (n = 3 independent experiments). HB, Hamilton Beach steel mill; MA, Montréal petrochemical refinery; MC, Montréal copper Smelter; SR, Sarnia petrochemical refinery; SW, Shawinigan Aluminum Smelter. Size-fractionated and standard reference particles. Three-way ANOVA (Size-fractionated particles): Site x Dose (p = 0.002) and Size x Dose (p 

  • Additional file 6: of Contrasting biological potency of particulate matter collected at sites impacted by distinct industrial sources
    2016
    Co-Authors: Errol Thomson, Dalibor Breznan, Subramanian Karthikeyan, Christine Mackinnon-roy, Ngoc Vuong, Ewa Dabek-zlotorzynska, Valbona Celo, Jean-pierre Charland, Prem Kumarathasan, Jeffrey Brook
    Abstract:

    Cytotoxic responses of J774A.1 cells to 24 h exposure to size-fractionated particulate matter collected in the vicinity of industrial sites according to the LDH release assay. Lactate dehydrogenase (LDH) release into cell culture supernatants of J774A.1 cells exposed for 24 h to size-fractionated and standard reference particles (left-side) and extracts from corresponding field blank filters that were transported to each site but remained unexposed to ambient air (right side). Data represent LDH release adjusted for total cellular LDH content. Values are presented as average fold-effect (FE) over control ± standard error (n = 3 independent experiments). HB, Hamilton Beach steel mill; MA, Montréal AIEM petrochemical refinery; MC, Montréal copper Smelter; SR, Sarnia petrochemical refinery; SW, Shawinigan Aluminum Smelter. Size-fractionated and standard reference particles. Three-way ANOVA (Size-fractionated particles): Site x Dose (p 

  • Additional file 8: of Contrasting biological potency of particulate matter collected at sites impacted by distinct industrial sources
    2016
    Co-Authors: Errol Thomson, Dalibor Breznan, Subramanian Karthikeyan, Christine Mackinnon-roy, Ngoc Vuong, Ewa Dabek-zlotorzynska, Valbona Celo, Jean-pierre Charland, Prem Kumarathasan, Jeffrey Brook
    Abstract:

    Cytotoxic responses of A549 cells to 24 h exposure to size-fractionated particulate matter collected in the vicinity of industrial sites according to the LDH release assay. Lactate dehydrogenase (LDH) release into cell culture supernatants of A549 cells exposed for 24 h to size-fractionated and standard reference particles (left-side) and extracts from corresponding field blank filters that were transported to each site but remained unexposed to ambient air (right side). Data represent LDH release, adjusted for total cellular LDH content. Values are presented as average fold-effect (FE) over control ± standard error (n = 3). HB, Hamilton Beach steel mill; MA, Montréal AIEM petrochemical refinery; MC, Montréal copper Smelter; SR, Sarnia petrochemical refinery; SW, Shawinigan Aluminum Smelter. Size-fractionated and standard reference particles. Three-way ANOVA (Size-fractionated particles): Site x Size (p = 0.002) and Size x Dose (p = 0.018) interactions. Asterisks represent significant pairwise comparisons (Holm-Sidak) as follows: doses within Size significantly different from 0 μg/cm2, or sites within Size significantly different from one another as indicated by brackets (*p