The case studies are broken down by sector and type:
2) Mining
3) Oil & Gas
4) Power
7) General project finance cases
8) Subject and technical notes.
NOTE: Many of these cases are available in a () casebook:
Esty, Benjamin C., 2004, Modern Project Finance: A Casebook, John Wiley & Sons, Inc., (New York, NY). Now available.
Airbus A3XX: Developing the World's Largest Commercial Jet (), 2000, (A Case # 201-028; B case # 201-126); Describes the plane's $13B development program and the competitive situation between Boeing and Airbus (The A3XX is also known as the A380).
Empresas ICA and the Mexican Road Privatization Program, 1992, Case # 793-028; analyzes one company's role in the privatization of Mexican toll roads in the early 1990s.
Poland's A2 Motorway, 2001, Case # 202-030, Assesses risk management strategies in Poland's first private toll road (e934 million).
Texas High-Speed Rail Corp., 1993, Case # 293-072.
The An Tai Bao Coal Mining Project, 1988, Case # 288-041, Occidental decides whether to invest $400 million in a Chinese coal mine.
Ashanti Goldfields Company Limited (A), 2001, Case # 201-064, Ashanti must decide whether to proceed with a $150-million investment in a Tanzanian mining project.
Bidding for Antamina, 1997, Case # 297-054.
Restructuring Bulong's Project Debt, 2002, Case # 203-027. Describes Bulong (an Australian nickel mine) and attempts to restructure its US$185 million project bond following default in January 2000.
Busang: The River of Gold (A), 1998, Case # 798-0028.
Corporate Responsibility & Community Engagement at the Tintaya Copper Mine (A&B), 2006, Case #507-xxx and Case #507-030. Analyzes BHP Billiton's attempts to gain local support for a Peruvian mine.
Southport Minerals, Inc., 1983, Case # 274-110.
Oil & Gas (and Pipeline) Cases:
BP Amoco (A): Policy Statement on the Use of Project Finance, 2001, Case # 201-054. Describes the costs and benefits of using project finance instead of internal, corporate funds to finance new capital investments.
BP Amoco (B): Financing Development of the Caspian Oil Fields, 2001, Case # 201-067. Applying the new policy statement to the AIOC's $10B oil field development project in Azerbaijan. See also the Note on the Caspian Oil Pipelines, 1999, Case # 299-044.
The Chad-Cameroon Petroleum Development and Pipeline Project (A, B, C, & D), 2001, Cases # 202-010, # 202-012, #206-139, and #207-087. Should the World Bank Group participate in this high risk/high return project, a $4 billion oil-field development project (known as Esso Chad)? This 4-part case study analyzes the progress of the project over seven years.
Journey to Sakhalin: Royal Dutch/Shell in Russia, 2004, Case # 704-040, explores the production sharing agreement (PSA) between the private sponsors (Sakhalin Energy Investment Company, SEIC) and the Russian government.
Petrolera Zuata, Petrozuata C.A., (), 1999, Case # 299-012, Describes a $2.4B oil-field development project in Venezuela.
The All American Pipeline, 1991, Case # 292-040.
The Burma Pipeline, 2000, Case # 798-078.
Mid-Missouri Energy, 2005, Case # 706-016. Analyzes the development of an ethanol project.
White Nights and Polar Lights: Investing in the Russian Oil Industry, 1995, Case # 795-022.
AES Global Values, 1998, Case # 399-136, Examines how a U.S.-based company adapts its business principles and interprets its commitment to social responsibility when it is setting up operations in India.
AES: Hungarian Project (A&B), 2000, Case # 300-045 and # 300-089, Explores how AES implements its values and ethical standards in a post-Communist context.
Calpine Corporation: The Evolution from Project to Corporate Finance, 2001, Case # 201-098. Describes Calpine's high-growth strategy and its attempts to finance investment in new power plants.
Cape Wind, 2003, Case #504-055. Analyzes the positioning and packaging of this controversial project proposal, a wind farm off Cape Cod, MA.
Contractual Innovation in the UK Energy Markets: Enron Europe, The Eastern Group, and the Sutton Bridge Project, 2000, Case # 200-051; Illustrates a real option valuation of the "spark spread" for a hybrid (merchant) power plant.
Enron Development Corporation: The Dabhol Power Project (A), 1997, Case # 797-085. see also Enron Development Corporation: The Dabhol Power Project (B), 1997, Case # 797-085.
Financing PPL Corporation's Growth Strategy, 2001, Case # 202-045, Analyzes the use of leases (leveraged and synthetic) as a way to finance peaking power plants in the US.
Globalizing the Cost of Capital and Capital Budgeting at AES, 2004, Case # 204-109, Describes AES' attempt to create a new method of estimating the cost of capital it guide its global capital budgeting decisions.
Intergen and the Quezon Power Project, 1999, Case # 799-057.
International Rivers Network and the Bujagali Dam Project (A & B), (), 2004, A case # 204-083 and B case # 204-139, Describes IRN's objectives (it is an environmental NGO) and its campaign against the $580 million Bujagali Dam project in Uganda--the project's lead sponsor was AES Corporation.
Mid-Missouri Energy, 2006, Case #706-016, Analyzes a farmer-owned cooperative created to take advantage of the growing interest in ethanol as an automotive fuel.
Mobile Energy Services Co. (MESC), 2003, Case # 203-061. Challenges students to identify and assess project risks, with an emphasis on market (contract) risk, in this US power plant.
Stakeholder Analysis: ENRON and the Dabhol Power Project in India, 2004, Case #504-062. Examines the role of the private investor in government-sponsored economic development.
The US Export-Import Bank and the Three Gorges Dam (A), 2000, Case # 900-017.
Yangcheng: AES in China, 2002, Case # 702-006.
Australia-Japan Cable: Structuring the Project Company, 2002, (Case #203-029); Describes the decisions involved with structuring the project company for this $520 million investment.
Iridium LLC, 2000, Case # 200-039; Analyzes the demise of this $6B satellite telecommunications project.
Other Sectors (mainly industrial projects):
Aluminium Bahrain (Alba): The Potline 5 Expansion Project (), 2005, Case # 205-027. Set in September 2002, Aluminum Bahrain (Alba) needs to decide how to finance its proposed $1.7 billion pot line. Management must decide how many financing sources to use, which ones, and how much to get from each one.
Canary Wharf, 2002, Case # 803-058. Set in 2002, explores the history and current status of this real estate development project.
Chase's Strategy for Syndicating the Hong Kong Disneyland Loan (A & B), 2001, A case # 201-072 and B case # 201-086. Analyzes the syndication strategy for this HK$3.3 billion (US$423 million) project loan.
Financing the Mozal Project, 2000, Case # 200-005; Analyzes a $1.4B aluminum smelter in Mozambique.
Nghe An Tate & Lyle Sugar Company (Vietnam), 2002, Case # 202-054, Illustrates how to calculate and assess social returns.
The International Investor: Islamic Finance and The Equate Project, 2000, Case # 200-012; Analyzes a $2B petrochemical plant in Kuwait. See also the note: An Introduction to Islamic Finance, 2000, Case # 200-002.
The Refinancing of Shanghai General Motors (A & B), 2003, A case # 204-031 and B case # 204-025. Set in late 2000, this case explores the decision to refinance the project.
Basel II: Assessing the Default and Loss Characteristics of Project Finance Loans (A) and (B), (), 2002, A case # 203-035 and B case # 204-094, Four banks use their historical loan performance data to argue that the Basel Committee’s proposed capital requirements for project loans are too high.
The Equator Principles: An Industry Approach to Managing Environmental and Social Risks, (), 2005, Describes a policy statement for financial institutions designed to assess and manage social and environmental risks in project finance lending
International Rivers Network and the Bujagali Dam Project (A & B), (), 2004, A case # 204-083 and B case # 204-139, Describes IRN's objectives (it is an environmental NGO) and its campaign against the $580 million Bujagali Dam project in Uganda--the project's lead sponsor was AES Corporation.
An Overview of Project Finance and Infrastructure Finance–2006 Update (), Case #207-107. The note introduces the fields of project finance and infrastructure finance, and provides a statistical overview of the project-financed investments over the last five years. It is the fourth note in a bi-annual series that began in 2000.
An Overview of Project Finance–2004 Update (), Case #205-065. The note introduces the field of project finance and provides a statistical overview of the project-financed investments over the last five years.
Project Finance Glossary (), 2004, Case #203-040 (Rev. 11/06), This glossary contains almost 1,000 definitions of project finance terms. It is a valuable reference tool for people working in project finance (law, banking, project development, etc.).
Project Finance Acronyms (), 2006, Case #207-086 (Rev. 11/06), This document contains more than 500 acronyms for official institutions and other project finance terms. It is a valuable reference tool for people working in project finance.
An Economic Framework for Assessing Development Impact, 2002, Case #202-052.
Arbitration Between Foreign Investors and Host Governments, Case #N9-705-019.
Bribery in Business: A Legal Perspective, Case #306-012.
Deception in Business: A Legal Perspective, Case #306-019.
Note on Capital Controls, 2002, Case # 702-082.
Note on Cross-Border Valuation, 1992, Case #295-100.
Note on Currency Crises, 2005, Case # 799-089.
Note on Foreign Currency Swaps, 1992, Case #292-043.
Note on Fundamental Parity Conditions, 1994, Case # 288-016.
Note on Political Risk Analysis, 1997, Case # 798-022.
Note on Political Risk Insurance, 2005, Case # 206-017.
Note on Protecting Foreign Investors, 2006, Case # 706-044.
Standard & Poor's Sovereign Credit Ratings: Scales and Process, 2006, Case #705-027.
|
If you have any suggestions
for additional content, please contact Professor Benjamin C. Esty. |
