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The asset constructed with or owned via a project financing, which is expected to produce cash flow at a debt-service coverage ratio sufficient to repay the project financing.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Any series of tasks or activities intended to accomplish a goal, which is ultimately to make a profit. For example, a construction company may have a project to build a house. This project involves laying in the foundation, setting up the frame, installing insulation, and so forth. A company may receive a lump sum payment at the completion of the project, or it may receive progress payments as different benchmarks on the way to completion are met. See also: Project finance.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved