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RICHARD DE NEUFVILLE: You can
all apply this kind of analysis

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for if you could
develop it earlier.

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Supposing you had a way of
developing the plan earlier.

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Why would that be worthwhile?

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If you had one year earlier,
it means your benefits

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would arrive one year earlier.

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And on the net
present value basis,

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that would be worth several
hundred million, possibly.

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So you can do it.

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Well, what would be the
value, if I had it earlier?

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And how would that happen?

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Well, for example, you
could have spent money

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on designing the railroad.

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That would take it out.

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And doing extra work on it to
have all that design work done.

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So if you won the bid, you
could proceed right away

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with the development of the
port and everything else.

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And in that case, the value
of the flexibility in order

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to build it faster
was 17 million.

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So you could now
think about there

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are things that you could do to
the design of the system, which

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would make it more
profitable, in this case

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to do the work early.

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And you had a value of
that of $17 million.

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So our time is up.

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