INDONESIAN POWER FIRM SIGNS PROCUREMENT CONTRACTS
Jakarta (ANTARA News/Asia Pulse) - Indonesia's state-run power firm PLN had signed two engineering procurement contracts worth US$888.4 million with Chinese companies for the construction of coal-fired power plants, local press said Saturday.
The first contract worth US$642 million was signed Friday for the 700-Megawatt Tanjugn Awar-Awar plant in East Java with a consortium of China National Machinery Equipment Corp. (Sinomac), China National Electric Equipment (CNEEC) and local firm PT Penta Adi Samudra.
PLN also signed another contract worth US$247.4 million for the 200-MW Nagan Raya plant in Aceh with China's Sinohydro Corp, reported leading newspaper The Jakarta Post.
PLN President Director Fahmi Mochtar said the projects would run for two years, with the first plant starting commercial operations in October 2010 and the second in January 2011.
INDIA'S JINDAL STEEL & POWER TO OPEN BOLIVIA PLANT IN 2011
Kolkata (ANTARA News/Asia Pulse) - India's Jindal Steel & Power Limited (BSE:532286) would start production at its upcoming plant in Bolivia by 2011, a company official said on Friday.
Company Vice-Chairman Naveen Jindal told reporters here that the company was developing an iron ore mine in Bolivia. He said that exploration in Bolivia would start by the end of the year and that the steel plant would be ready by 2011 at an investment of US$2.1 billion.
On domestic projects, Jindal said that production capacity would be increased by 15 million tons at its greenfield plants at Orissa and Jharkhand. The new plants would be ready by 2010, he said.
INDIA'S BIRD GROUP TO SET UP CHAIN OF HOTELS
New Delhi (ANTARA News/Asia Pulse) - The Bird Group, engaged in aviation and IT services, plans to set up a chain of hotels across India in the five-star-plus category at an investment of Rs 16,000 million ($US398.4 million) in the first phase.
Bird Hospitality Services, a group company, has tied up with Dusit Thani, which runs spas and hotels in Thailand, for the management of four hotels that are to be set up in the initial phase.
The four properties, to be set up in New Delhi, Jaipur, Goa and Rishikesh, would have about 600-700 rooms and would be ready by 2010.
AUSTRALIA'S COMMONWEALTH BANK TO SPEND $US541 MLN ON TECHNOLOGY
Sydney (ANTARA News/Asia Pulse) - The Commonwealth Bank of Australia Ltd (ASX:CBA) will spend $A580 million ($US541.2 million) over the next four years modernising its existing banking legacy systems.
CBA has selected global business software company SAP to upgrade its banking solutions, based on SAP's technology platform NetWeaver. The bank also has appointed another software firm, Accenture, to support the program.
"The forecast cost is around $580 million over the next four years," CBA said.
"In return, the project will deliver a better customer service platform and simplicity in IT systems, infrastructure and business services, as well as provide significant operational benefits and cost savings."
INDONESIA'S CIPUTRA TO INVEST US$1.1BLN IN LUXURY HOUSING PROJECT
Jakarta (ANTARA News/Asia Pulse) - Indonesian publicly-traded construction company PT Ciputra Development (JSX:CTRA) said it will build luxury homes worth Rp10 trillion (US$1.1 billion) in Palembang and Balikpapan.
The company has secured lands totaling 200 hectare in Palembang and 23 hectares in Balikpapan for the locations of the project.
Construction would be undertaken in phases starting this year, company director Tulus Santoro said, adding that implementation would take 5-6 years in Balikpapan and 10 years in Palembang.
VIETNAM'S US$295 MLN CAM PHA CEMENT PLANT PUT INTO OPERATION
Quang Ninh, Vietnam (ANTARA News/Asia Pulse) - The Vinaconex Cam Pha Cement Plant, capable of turning out 1.89 million tonnes of clinker a year, was put into operation in Quang Ninh province on April 27.
The plant is the main element of the 4.74 trillion VND (US$295.50 million) Cam Pha Cement Project, which has a designed capacity of 2.3 million tonnes a year, invested by the Vietnam Construction Import Export Joint Stock Company (Vinaconex JSC).
The state-of-the art project is the largest of its kind in Vietnam.
Built on a 75 ha area in Cam Pha township, Vinaconex Cam Pha Cement Plant turned out its first batch of clinker last month.
S KOREAN PRESIDENT VOWS TO OPEN BEEF MARKET WIDER
Seoul (ANTARA News/Asia Pulse) - President Lee Myung-bak said Sunday that South Korea will have to fully open its beef market to the U.S. and all the other countries in the world.
"The government recently decided to reopen its beef market to the U.S. The policy is in the right direction and the beef market should be opened to all the other countries of the world, in addition to the U.S.," Lee told a meeting with budget-related Cabinet ministers and presidential aides.
"The final judgment (on the market opening) will be left in the hands of local consumers.
The government's role will be reduced to helping local livestock farmers upgrade their global competitiveness."
VIETNAM TO PUMP US$53 MLN INTO AQUACULTURE RESEARCH
Hanoi (ANTARA News/Asia Pulse) - About 850 billion VND (US$53.1 million) will be invested in developing and applying bio-technology in aqua-culture from now to 2020, according to Vietnam's Ministry of Agriculture and Rural Development.
The investment also aims to develop new post-harvest technologies, while boosting the competitiveness of the aqua-culture sector.
THAILAND'S AMATA JOINS MITSUBISHI TO BUILD TURBO-CHARGER FACTORY
Bangkok (ANTARA News/Asia Pulse) - Thai real estate developer Amata Group and Japan's Mitsubishi Heavy Industries (TSE:7011) have signed an agreement to produce turbo chargers in Thailand to meet increasing demand for the product both locally and internationally.
The two companies will set up a joint venture named Mitsubishi Turbo Charger Asia, Amata Corporation Pcl director Viboon Kromadit, and Mitsubishi Heavy Industries director Katsuhiko Yoshida told a press conference.
The Bt7 billion (US$220.78 million) factory will be built in Thailand's Amata Nakhon Industrial Estate.
APAC COAL SET TO RAISE $US14 MLN VIA IPO
Melbourne (ANTARA News/Asia Pulse) - Explorer APAC Coal Ltd is looking to raise $A15 million ($US14.22 million) through an initial public offer to fund the development of a thermal coal mine in Indonesia amid rising prices for the fuel.
APAC Coal's flagship project is located in East Kalimantan, Indonesia, and contains a resource of 5.1 million tonne's of thermal coal, which is used to fuel power stations.
"APAC Coal has entered into an exciting phase of its development and with the capital from the IPO proceeds we will be able to produce thermal coal from the new mine which is currently in the pre-production phase," chairman Paul Piercy said in a statement.
Source:
Business in Asia Today - APRIL 28, 2008
published by Asia Pulse
COPYRIGHT © 2008
Jakarta (ANTARA News/Asia Pulse) - Indonesia's state-run power firm PLN had signed two engineering procurement contracts worth US$888.4 million with Chinese companies for the construction of coal-fired power plants, local press said Saturday.
The first contract worth US$642 million was signed Friday for the 700-Megawatt Tanjugn Awar-Awar plant in East Java with a consortium of China National Machinery Equipment Corp. (Sinomac), China National Electric Equipment (CNEEC) and local firm PT Penta Adi Samudra.
PLN also signed another contract worth US$247.4 million for the 200-MW Nagan Raya plant in Aceh with China's Sinohydro Corp, reported leading newspaper The Jakarta Post.
PLN President Director Fahmi Mochtar said the projects would run for two years, with the first plant starting commercial operations in October 2010 and the second in January 2011.
INDIA'S JINDAL STEEL & POWER TO OPEN BOLIVIA PLANT IN 2011
Kolkata (ANTARA News/Asia Pulse) - India's Jindal Steel & Power Limited (BSE:532286) would start production at its upcoming plant in Bolivia by 2011, a company official said on Friday.
Company Vice-Chairman Naveen Jindal told reporters here that the company was developing an iron ore mine in Bolivia. He said that exploration in Bolivia would start by the end of the year and that the steel plant would be ready by 2011 at an investment of US$2.1 billion.
On domestic projects, Jindal said that production capacity would be increased by 15 million tons at its greenfield plants at Orissa and Jharkhand. The new plants would be ready by 2010, he said.
INDIA'S BIRD GROUP TO SET UP CHAIN OF HOTELS
New Delhi (ANTARA News/Asia Pulse) - The Bird Group, engaged in aviation and IT services, plans to set up a chain of hotels across India in the five-star-plus category at an investment of Rs 16,000 million ($US398.4 million) in the first phase.
Bird Hospitality Services, a group company, has tied up with Dusit Thani, which runs spas and hotels in Thailand, for the management of four hotels that are to be set up in the initial phase.
The four properties, to be set up in New Delhi, Jaipur, Goa and Rishikesh, would have about 600-700 rooms and would be ready by 2010.
AUSTRALIA'S COMMONWEALTH BANK TO SPEND $US541 MLN ON TECHNOLOGY
Sydney (ANTARA News/Asia Pulse) - The Commonwealth Bank of Australia Ltd (ASX:CBA) will spend $A580 million ($US541.2 million) over the next four years modernising its existing banking legacy systems.
CBA has selected global business software company SAP to upgrade its banking solutions, based on SAP's technology platform NetWeaver. The bank also has appointed another software firm, Accenture, to support the program.
"The forecast cost is around $580 million over the next four years," CBA said.
"In return, the project will deliver a better customer service platform and simplicity in IT systems, infrastructure and business services, as well as provide significant operational benefits and cost savings."
INDONESIA'S CIPUTRA TO INVEST US$1.1BLN IN LUXURY HOUSING PROJECT
Jakarta (ANTARA News/Asia Pulse) - Indonesian publicly-traded construction company PT Ciputra Development (JSX:CTRA) said it will build luxury homes worth Rp10 trillion (US$1.1 billion) in Palembang and Balikpapan.
The company has secured lands totaling 200 hectare in Palembang and 23 hectares in Balikpapan for the locations of the project.
Construction would be undertaken in phases starting this year, company director Tulus Santoro said, adding that implementation would take 5-6 years in Balikpapan and 10 years in Palembang.
VIETNAM'S US$295 MLN CAM PHA CEMENT PLANT PUT INTO OPERATION
Quang Ninh, Vietnam (ANTARA News/Asia Pulse) - The Vinaconex Cam Pha Cement Plant, capable of turning out 1.89 million tonnes of clinker a year, was put into operation in Quang Ninh province on April 27.
The plant is the main element of the 4.74 trillion VND (US$295.50 million) Cam Pha Cement Project, which has a designed capacity of 2.3 million tonnes a year, invested by the Vietnam Construction Import Export Joint Stock Company (Vinaconex JSC).
The state-of-the art project is the largest of its kind in Vietnam.
Built on a 75 ha area in Cam Pha township, Vinaconex Cam Pha Cement Plant turned out its first batch of clinker last month.
S KOREAN PRESIDENT VOWS TO OPEN BEEF MARKET WIDER
Seoul (ANTARA News/Asia Pulse) - President Lee Myung-bak said Sunday that South Korea will have to fully open its beef market to the U.S. and all the other countries in the world.
"The government recently decided to reopen its beef market to the U.S. The policy is in the right direction and the beef market should be opened to all the other countries of the world, in addition to the U.S.," Lee told a meeting with budget-related Cabinet ministers and presidential aides.
"The final judgment (on the market opening) will be left in the hands of local consumers.
The government's role will be reduced to helping local livestock farmers upgrade their global competitiveness."
VIETNAM TO PUMP US$53 MLN INTO AQUACULTURE RESEARCH
Hanoi (ANTARA News/Asia Pulse) - About 850 billion VND (US$53.1 million) will be invested in developing and applying bio-technology in aqua-culture from now to 2020, according to Vietnam's Ministry of Agriculture and Rural Development.
The investment also aims to develop new post-harvest technologies, while boosting the competitiveness of the aqua-culture sector.
THAILAND'S AMATA JOINS MITSUBISHI TO BUILD TURBO-CHARGER FACTORY
Bangkok (ANTARA News/Asia Pulse) - Thai real estate developer Amata Group and Japan's Mitsubishi Heavy Industries (TSE:7011) have signed an agreement to produce turbo chargers in Thailand to meet increasing demand for the product both locally and internationally.
The two companies will set up a joint venture named Mitsubishi Turbo Charger Asia, Amata Corporation Pcl director Viboon Kromadit, and Mitsubishi Heavy Industries director Katsuhiko Yoshida told a press conference.
The Bt7 billion (US$220.78 million) factory will be built in Thailand's Amata Nakhon Industrial Estate.
APAC COAL SET TO RAISE $US14 MLN VIA IPO
Melbourne (ANTARA News/Asia Pulse) - Explorer APAC Coal Ltd is looking to raise $A15 million ($US14.22 million) through an initial public offer to fund the development of a thermal coal mine in Indonesia amid rising prices for the fuel.
APAC Coal's flagship project is located in East Kalimantan, Indonesia, and contains a resource of 5.1 million tonne's of thermal coal, which is used to fuel power stations.
"APAC Coal has entered into an exciting phase of its development and with the capital from the IPO proceeds we will be able to produce thermal coal from the new mine which is currently in the pre-production phase," chairman Paul Piercy said in a statement.
Source:
Business in Asia Today - APRIL 28, 2008
published by Asia Pulse
COPYRIGHT © 2008
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