This case provides students with an opportunity to apply project valuation methodologies in an international context. The dynamics of the case offer more complexity than typical textbook capital budgeting problems because, while the identity has been disguised, the case is based on a real company. We complement recent pedagogical literature on strategic cost management (Blocher 2009) by applying a five-stage information value chain to our case setting. Students must consider both the financial and strategic factors to make a unified decision about whether an industrial gases joint venture should expand operations into Guatemala. Students are asked to perform thorough financial analysis using advanced spreadsheet modeling techniques to support their decision. Equally important, they are required to research the socio-political-economic factors, and to assess the joint venture's competitive and strategic landscape. The primary deliverable is a written recommendation, in the form of a business case, which is submitted to the Vice President of the U.S. joint venture partner. This component addresses concerns raised in recent literature (Matherly and Burney 2009) about the lack of emphasis in current accounting curricula on developing students' writing competencies in a relevant context.