SOUTH KOREA'S STX GROUP TO BUILD SHIPYARD IN AZERBAIJAN
Seoul (ANTARA News/Asia Pulse) - STX Group, a mid-sized South Korean conglomerate, said Friday that it plans to build a shipyard in Azerbaijan by 2011.
STX will cooperate with two Azerbaijani companies, the Azerbaijan Investment Co. (AIC) and the State Oil Company of Azerbaijan (SOCAR), but STX said it will be wholly responsible for the operation of the shipyard. STX plans to spend a total of US$430 million on the project.
STX, eyeing international expansion, has bought a 39 per cent stake in Aker Yards ASS, Europe's biggest shipbuilder, and plans to invest US$150 million in Vietnam. The group also has a shipyard in China.
TOYOTA, MATSUSHITA TO BUILD 2 PLANTS FOR HYBRID-VEHICLE BATTERIES
Nagoya (ANTARA News/Asia Pulse) - Toyota Motors (TSE:7203) and Matsushita Electric Industrial Co. (TSE:6752) plan to build two plants to manufacture batteries used in hybrid cars, The Nikkei learned Thursday.
The companies seek to lift annual production of such batteries to around 1 million units by 2011. Total spending on the plants will be about 70 billion yen (US$671.72 million).
Around 30 billion yen will be spent to build a nickel metal-hydride battery plant in Miyagi Prefecture, that will come onstream as soon as 2011.
The plant is likely to make around 300,000 of the batteries a year.
A lithium ion battery plant will also be built at an existing facility in Shizuoka Prefecture. Production will kick off by 2010.
QANTAS & JETSTAR TAKE THEIR HAND OFF THE THROTTLE TO SAVE FUEL
Sydney (ANTARA News/Asia Pulse) - Australian airlines Qantas (ASX:QAN) and Jetstar have slowed their planes' flying speed in a bid to beat soaring jet fuel costs.
Jetstar has been flying more slowly since last month to conserve fuel, adding several minutes to flights, News Ltd (ASX:NWS) reports today. A Qantas spokesman, which owns Jetstar, confirmed its planes had been using variable speeds to cut fuel consumption for the past two years.
A Virgin Blue (ASX:VBA) spokeswoman said while it had not altered cruising speeds it was considering slowing its planes during descent.
The practice is expected to save airlines millions of dollars and reduce upward pressure on airfares. Qantas yesterday said it will increase international fares by four per cent and domestic fares by three per cent from June 4.
OIL PRICE SURGE FORCES 4,000 THAI TRUCKS TO HALT SERVICES
Bangkok (ANTARA News/Asia Pulse) - Surging oil prices have taken a heavy toll on transport operators in Northeast Thailand, with almost 4,000 trucks already idle, as their operators won't take to the road under these circumstances.
Pramote Kongthong, president of the Northeastern Transport Operators Association, revealed that 449 members owning more than 10,000 trucks, had taken almost half of their trucks out of service Thursday because their businesses could not keep up with the rising cost of fuel.
Some operators have already closed their doors and shifted their attention to other kinds of businesses. Many have already sold their trucks to other major operators with larger amounts of capital.
If diesel price reaches 40 baht (US$1.25) per litre, he believes, the transport operators would have more than 1,000 trucks out of service, creating a big bottleneck for the region.
SANYO TIES UP WITH SHARP IN LCD PANELS, KITCHEN APPLIANCES
Osaka (ANTARA News/Asia Pulse) - Sanyo (TSE:6764) will procure LCD panels from Sharp (TSE:6753) under a partnership it announced Thursday.
The two firms also seek to combine their technologies and jointly develop microwaves, rice cookers and other kitchen appliances.
Sanyo sold 1 million LCD televisions in North America in fiscal 2007 using panels procured from Taiwanese manufacturers, but it now plans to use Sharp's panels as well.
Sanyo also plans to supply its lithium ion batteries for Sharp's PCs and other portable devices. Sanyo has earmarked 360 billion yen (US$3.45 billion) for capital outlays in the next three years, up 56 per cent from the previous three-year period.
SPECULATION THRIVES OVER SINOSTEEL INTEREST IN AUSTRALIAN MINERS
Perth (ANTARA News/Asia Pulse) - Another Sinosteel Corporation executive has not ruled out taking a stake in Western Australia's newest iron ore producer, Fortescue Metals Group Ltd (ASX:FMG).
Asked to comment on reports last week that Sinosteel's president would not rule out taking an interest in Fortescue, Sinosteel Australia deputy general manager William Ren said the company was keen to participate in a raft of Australian iron ore projects.
"Basically, the reasons or the logic behind this is Chinese steel mills need more iron ore," Mr Ren told AAP at a mining conference in Perth today.
"No matter if it is in the mid-west area or in the traditional Pilbara area, wherever there is iron ore, we'd like to get involved or to secure more of these assets."
BAKRIE INDO EYES INFRASTRUCTURE PROJECTS VALUED AT US$5 BLN
Jakarta (ANTARA News/Asia Pulse) - PT Bakrie Indo Infrastructure said it hopes to win more infrastructure projects, mainly power generating projects, worth US$5 billion until 2013.
The target does not include three projects worth US$2.9 billion the company has already won and is building, its president said.
He added the subsidiary of PT Bakrie & Brother is targetting at least four power generating projects in addition to toll road and gas pipeline projects.
He said the company will seek bank loans or team up with strategic partners to finance the projects.
The company is building or is preparing for a gas pipeline project valued at US$1.2 billion, power generating plants valued at US$1.4 billion and toll road project valued at US$300 million.
MITSUBISHI HEAVY TO INVEST US$287 MLN ON SOLAR CELLS IN NEXT 3 YRS
Tokyo (ANTARA News/Asia Pulse) - Mitsubishi Heavy Industries Ltd. (TSE:7011) said Thursday that it plans to spend roughly 30 billion yen (US$287.88 million) over the next three years to more than double its solar cell output to 120 megawatts a year by fiscal 2010.
The plans involve setting up a third factory at its Nagasaki shipyard's Isahaya production complex by fiscal 2009.
Mitsubishi Heavy is considering building two more factories there to boost its annual solar cell production capacity to roughly 250mw by fiscal 2012. Polycrystalline silicon solar cells currently dominate the market, but demand for thin-film products, which use less silicon, is expected to grow dramatically.
MALAYSIA AIRLINES & ETIHAD TARGET CODE SHARING IN JULY 2008
Petaling Jaya (ANTARA News/Asia Pulse) - Malaysia Airlines (MAS) (KLSE:3786) and Etihad plan to undertake code sharing, one the initiatives to take place with the signing of a memorandum of understanding between the two airlines here Thursday.
The code sharing is targeted to start in July 2008 once the information technology (IT) arrangements have been synchronised. Other initiatives under the MOU include collaboration on frequent flyer programmes, ground handling, customer support, cargo and lounge access.
OTIS PLANS TO BUILD ELEVATOR FACTORY IN CHONGQING
Chongqing (ANTARA News/Asia Pulse) - The world's largest elevator producer Otis plans to invest 200 million yuan (US$28.8 million) to build a factory to produce energy saving and environmental friendly high-speed elevators in the new zone north of Chongqing, China, a local newspaper reports.
Otis is affiliated with the United Technologies Corporation (UTC) of the United States, which sees much market potential in Chongqing. UTC CEO Louis R. Chenevert will visit Chongqing on June 5-6.
Source:
Business in Asia Today - MAY 23, 2008
published by Asia Pulse
COPYRIGHT © 2008
Seoul (ANTARA News/Asia Pulse) - STX Group, a mid-sized South Korean conglomerate, said Friday that it plans to build a shipyard in Azerbaijan by 2011.
STX will cooperate with two Azerbaijani companies, the Azerbaijan Investment Co. (AIC) and the State Oil Company of Azerbaijan (SOCAR), but STX said it will be wholly responsible for the operation of the shipyard. STX plans to spend a total of US$430 million on the project.
STX, eyeing international expansion, has bought a 39 per cent stake in Aker Yards ASS, Europe's biggest shipbuilder, and plans to invest US$150 million in Vietnam. The group also has a shipyard in China.
TOYOTA, MATSUSHITA TO BUILD 2 PLANTS FOR HYBRID-VEHICLE BATTERIES
Nagoya (ANTARA News/Asia Pulse) - Toyota Motors (TSE:7203) and Matsushita Electric Industrial Co. (TSE:6752) plan to build two plants to manufacture batteries used in hybrid cars, The Nikkei learned Thursday.
The companies seek to lift annual production of such batteries to around 1 million units by 2011. Total spending on the plants will be about 70 billion yen (US$671.72 million).
Around 30 billion yen will be spent to build a nickel metal-hydride battery plant in Miyagi Prefecture, that will come onstream as soon as 2011.
The plant is likely to make around 300,000 of the batteries a year.
A lithium ion battery plant will also be built at an existing facility in Shizuoka Prefecture. Production will kick off by 2010.
QANTAS & JETSTAR TAKE THEIR HAND OFF THE THROTTLE TO SAVE FUEL
Sydney (ANTARA News/Asia Pulse) - Australian airlines Qantas (ASX:QAN) and Jetstar have slowed their planes' flying speed in a bid to beat soaring jet fuel costs.
Jetstar has been flying more slowly since last month to conserve fuel, adding several minutes to flights, News Ltd (ASX:NWS) reports today. A Qantas spokesman, which owns Jetstar, confirmed its planes had been using variable speeds to cut fuel consumption for the past two years.
A Virgin Blue (ASX:VBA) spokeswoman said while it had not altered cruising speeds it was considering slowing its planes during descent.
The practice is expected to save airlines millions of dollars and reduce upward pressure on airfares. Qantas yesterday said it will increase international fares by four per cent and domestic fares by three per cent from June 4.
OIL PRICE SURGE FORCES 4,000 THAI TRUCKS TO HALT SERVICES
Bangkok (ANTARA News/Asia Pulse) - Surging oil prices have taken a heavy toll on transport operators in Northeast Thailand, with almost 4,000 trucks already idle, as their operators won't take to the road under these circumstances.
Pramote Kongthong, president of the Northeastern Transport Operators Association, revealed that 449 members owning more than 10,000 trucks, had taken almost half of their trucks out of service Thursday because their businesses could not keep up with the rising cost of fuel.
Some operators have already closed their doors and shifted their attention to other kinds of businesses. Many have already sold their trucks to other major operators with larger amounts of capital.
If diesel price reaches 40 baht (US$1.25) per litre, he believes, the transport operators would have more than 1,000 trucks out of service, creating a big bottleneck for the region.
SANYO TIES UP WITH SHARP IN LCD PANELS, KITCHEN APPLIANCES
Osaka (ANTARA News/Asia Pulse) - Sanyo (TSE:6764) will procure LCD panels from Sharp (TSE:6753) under a partnership it announced Thursday.
The two firms also seek to combine their technologies and jointly develop microwaves, rice cookers and other kitchen appliances.
Sanyo sold 1 million LCD televisions in North America in fiscal 2007 using panels procured from Taiwanese manufacturers, but it now plans to use Sharp's panels as well.
Sanyo also plans to supply its lithium ion batteries for Sharp's PCs and other portable devices. Sanyo has earmarked 360 billion yen (US$3.45 billion) for capital outlays in the next three years, up 56 per cent from the previous three-year period.
SPECULATION THRIVES OVER SINOSTEEL INTEREST IN AUSTRALIAN MINERS
Perth (ANTARA News/Asia Pulse) - Another Sinosteel Corporation executive has not ruled out taking a stake in Western Australia's newest iron ore producer, Fortescue Metals Group Ltd (ASX:FMG).
Asked to comment on reports last week that Sinosteel's president would not rule out taking an interest in Fortescue, Sinosteel Australia deputy general manager William Ren said the company was keen to participate in a raft of Australian iron ore projects.
"Basically, the reasons or the logic behind this is Chinese steel mills need more iron ore," Mr Ren told AAP at a mining conference in Perth today.
"No matter if it is in the mid-west area or in the traditional Pilbara area, wherever there is iron ore, we'd like to get involved or to secure more of these assets."
BAKRIE INDO EYES INFRASTRUCTURE PROJECTS VALUED AT US$5 BLN
Jakarta (ANTARA News/Asia Pulse) - PT Bakrie Indo Infrastructure said it hopes to win more infrastructure projects, mainly power generating projects, worth US$5 billion until 2013.
The target does not include three projects worth US$2.9 billion the company has already won and is building, its president said.
He added the subsidiary of PT Bakrie & Brother is targetting at least four power generating projects in addition to toll road and gas pipeline projects.
He said the company will seek bank loans or team up with strategic partners to finance the projects.
The company is building or is preparing for a gas pipeline project valued at US$1.2 billion, power generating plants valued at US$1.4 billion and toll road project valued at US$300 million.
MITSUBISHI HEAVY TO INVEST US$287 MLN ON SOLAR CELLS IN NEXT 3 YRS
Tokyo (ANTARA News/Asia Pulse) - Mitsubishi Heavy Industries Ltd. (TSE:7011) said Thursday that it plans to spend roughly 30 billion yen (US$287.88 million) over the next three years to more than double its solar cell output to 120 megawatts a year by fiscal 2010.
The plans involve setting up a third factory at its Nagasaki shipyard's Isahaya production complex by fiscal 2009.
Mitsubishi Heavy is considering building two more factories there to boost its annual solar cell production capacity to roughly 250mw by fiscal 2012. Polycrystalline silicon solar cells currently dominate the market, but demand for thin-film products, which use less silicon, is expected to grow dramatically.
MALAYSIA AIRLINES & ETIHAD TARGET CODE SHARING IN JULY 2008
Petaling Jaya (ANTARA News/Asia Pulse) - Malaysia Airlines (MAS) (KLSE:3786) and Etihad plan to undertake code sharing, one the initiatives to take place with the signing of a memorandum of understanding between the two airlines here Thursday.
The code sharing is targeted to start in July 2008 once the information technology (IT) arrangements have been synchronised. Other initiatives under the MOU include collaboration on frequent flyer programmes, ground handling, customer support, cargo and lounge access.
OTIS PLANS TO BUILD ELEVATOR FACTORY IN CHONGQING
Chongqing (ANTARA News/Asia Pulse) - The world's largest elevator producer Otis plans to invest 200 million yuan (US$28.8 million) to build a factory to produce energy saving and environmental friendly high-speed elevators in the new zone north of Chongqing, China, a local newspaper reports.
Otis is affiliated with the United Technologies Corporation (UTC) of the United States, which sees much market potential in Chongqing. UTC CEO Louis R. Chenevert will visit Chongqing on June 5-6.
Source:
Business in Asia Today - MAY 23, 2008
published by Asia Pulse
COPYRIGHT © 2008
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