NEW AIRBUS TECHNOLOGY JV OPENS IN CHINA
Beijing (ANTARA News/Asia Pulse) - Airbus has convened the first board meeting of the Airbus (Beijing) Engineering Technology Center, a joint venture between Airbus and three Chinese aviation enterprises, which marks the official operation of the new joint venture.
The Airbus (Beijing) Engineering Technology Center, established in 2005, which mainly handles the design of current and future Airbus planes, was operating as a solely foreign-funded venture until it got a joint venture business license in June 2008.
Now Airbus (China) Co., Ltd. owns a 70 per cent stake in the joint venture, while the Hafei Aviation Industry Co., Ltd.,
(SSE:600038) Jiangxi Hongdu Aviation Industry Co., Ltd (SSE:600316) and the China Aviation Industry Corporation I take the stake of 18 per cent, seven per cent and five per cent respectively.
SAMSUNG HEAVY WINS US$705.6MLN ORDER TO BUILD DRILL SHIP
Seoul (ANTARA News/Asia Pulse) - Samsung Heavy Industries Co. (KSE:010140), the world's second-largest shipyard, said today that it had received an order to build a drill ship for 739.2 billion won (US$705.6 million).
The deal with a U.S shipping company calls on Samsung Heavy Industries to deliver the vessel by January 2012, the company said in a regulatory filing.
Shipyards in South Korea, the world's largest shipbuilding nation, have won record orders over the past few years as demand for vessels to carry fuel and consumer goods has outstripped supply.
WIKA, CHINESE CO TO BUILD POWER PLANT IN EAST KALIMANTAN
Jakarta (ANTARA News/Asia Pulse) - State-owned construction company PT Wijaya Karya (JSX:WIKA) said it had agreed with the Chengda Engineering Corp. of China to build a coal-fired power plant in East Kalimantan.
Wika and Chengda had formed a consortium with a share split of 51:49 to build the 130-megawatt power plant in Kutai Kartanegara, at a cost of Rp1.4 trillion (US$155 million), the newspaper Investor Daily said.
The two signed an engineering, procurement and construction (EPC) contract last weekend, Wika President Bintang Perbowo told the newspaper.
Construction would start this year and be completed in 2010.
VIETNAM INVESTS US$315 MLN IN NEW HYDRO-ELECTRIC PROJECTS
Kon Tum, Vietnam (ANTARA News/Asia Pulse) - Kon Tum province in Vietnam's Central Highlands has so far built about 70 small and medium hydro-electric projects with a total investment capital of 5 trillion VND (US$315 million).
Ten projects began construction in the first six months of this year at a total cost of 2.8 trillion VND.
The Dak Psi Hydro-electric Development Investment Company committed 600 billion VND to build four plants with a total capacity of 36 megawatts in the build-own-operate form.
Two of these are expected to generate power by 2010.
BHP BILLITON STARTS FIRST PRODUCTION ON NEPTUNE OIL OPERATION
Melbourne (ANTARA News/Asia Pulse) - BHP Billiton Ltd (ASX:BHP), Australia's biggest oil and gas producer, has started first production from the $A1.16 billion ($US1.12 billion) Neptune oil operation in the Gulf of Mexico, more than six months later than originally scheduled.
The 50,000 barrel per day facility was originally expected to be in production by the end of December, but that date was deferred until the end of March.
"The start-up of the Neptune project after several years of drilling, construction, and with the recent remediation work, is a significant accomplishment for BHP Billiton," petroleum chief executive Michael Yeager said in a statement.
S KOREA'S STX SHIPBUILDING WINS US$117.3 MLN ORDER
Seoul (ANTARA News/Asia Pulse) - South Korean shipyard the STX Shipbuilding Co. (KSE:067250) said Monday it had won an order worth 122.3 billion won (US$117.3 million) from a European shipping company to build two bulk carriers.
The deal called on STX Shipbuilding to deliver the vessels by April 2011, the local shipbuilder said in a regulatory filing. STX Shipbuilding did not disclose the name of the European company.
HYUNDAI HEAVY INDUSTRIES TO INVEST $US2 BLN IN CHINA
Beijing (ANTARA News/Asia Pulse) - Hyundai Heavy Industries (KSE:09540), the world's leading shipbuilder, will increase investment in the fields of sea transportation logistics, engineering machinery, new energy and airplane for civil use in China with investment to reach $US2 billion in the next five years, according to the company.
The company plans to invest $US50 million to set up an engineering machinery company in Shandong Tai'an.
It has also started to produce solar energy generating equipment in China and is planning to acquire shares of a Sichuan polycrystalline silicon company.
LG COMPLETES CONSTRUCTION OF SOUTH KOREA'S BIGGEST SOLAR PLANT
Seoul (ANTARA News/Asia Pulse) - The LG Group (KSE:66570), South Korea's third-largest family-run business conglomerate, said Sunday it had completed the construction of the nation's biggest solar panel plant, as part of the group's strategy to make inroads into the alternative energy market.
The solar plant in Taean county, about 110 kilometers southwest of Seoul, was capable of producing 14 megawatts of electricity a year, equivalent to the demand by some 8,000 homes, LG said.
LG spent 110 billion won (US$105 million) to build the facility.
STATE BANK OF PAKISTAN LAUNCHES 10-YEAR STRATEGY
Karachi (ANTARA News/Asia Pulse) - The State Bank of Pakistan (SBP) is launching a 10-year Financial Sector Strategy (FSS) to help achieve higher, sustainable economic growth; to develop a dynamic, robust and stronger banking system and to mobilize domestic and foreign resources for private investment.
The plan was unveiled by SBP Governor, Dr Shamshad Akhtar while addressing a Development Finance Conference on 'Expanding Frontiers of Financial Access in Pakistan' organized by SBP on the eve of the 60th Anniversary of the central bank here.
It was inaugurated by Prime Minister Syed Yousuf Raza Gilani.
"The vision we are articulating will take forward the banking sector to new heights, building on the outstanding performance of the sector in 4-5 years," he said.
VIETNAM IMPORT-EXPORT BANK OFFERS EXCHANGE RATE INSURANCE
Hanoi (ANTARA News/Asia Pulse) - The Vietnam Import-Export Bank (Eximbank) announced on July 3 that it will use VND2 trillion ($US118.7 million) to provide exchange rate insurance and credit support for importers and exporters.
The support and insurance will be made through the banks credit products and exchange rate insurance tools.
Eximbank has pledged to introduce the optimal solutions to importers and exporters to help them increase their competitiveness and develop their business, General Director Truong Van Phuoc said.
Eximbank is currently the largest commercial joint stock bank in Vietnam, with capital of more than VND12.6 trillion.
Source:
Business in Asia Today - July 7, 2008
published by Asia Pulse
COPYRIGHT © 2008
Beijing (ANTARA News/Asia Pulse) - Airbus has convened the first board meeting of the Airbus (Beijing) Engineering Technology Center, a joint venture between Airbus and three Chinese aviation enterprises, which marks the official operation of the new joint venture.
The Airbus (Beijing) Engineering Technology Center, established in 2005, which mainly handles the design of current and future Airbus planes, was operating as a solely foreign-funded venture until it got a joint venture business license in June 2008.
Now Airbus (China) Co., Ltd. owns a 70 per cent stake in the joint venture, while the Hafei Aviation Industry Co., Ltd.,
(SSE:600038) Jiangxi Hongdu Aviation Industry Co., Ltd (SSE:600316) and the China Aviation Industry Corporation I take the stake of 18 per cent, seven per cent and five per cent respectively.
SAMSUNG HEAVY WINS US$705.6MLN ORDER TO BUILD DRILL SHIP
Seoul (ANTARA News/Asia Pulse) - Samsung Heavy Industries Co. (KSE:010140), the world's second-largest shipyard, said today that it had received an order to build a drill ship for 739.2 billion won (US$705.6 million).
The deal with a U.S shipping company calls on Samsung Heavy Industries to deliver the vessel by January 2012, the company said in a regulatory filing.
Shipyards in South Korea, the world's largest shipbuilding nation, have won record orders over the past few years as demand for vessels to carry fuel and consumer goods has outstripped supply.
WIKA, CHINESE CO TO BUILD POWER PLANT IN EAST KALIMANTAN
Jakarta (ANTARA News/Asia Pulse) - State-owned construction company PT Wijaya Karya (JSX:WIKA) said it had agreed with the Chengda Engineering Corp. of China to build a coal-fired power plant in East Kalimantan.
Wika and Chengda had formed a consortium with a share split of 51:49 to build the 130-megawatt power plant in Kutai Kartanegara, at a cost of Rp1.4 trillion (US$155 million), the newspaper Investor Daily said.
The two signed an engineering, procurement and construction (EPC) contract last weekend, Wika President Bintang Perbowo told the newspaper.
Construction would start this year and be completed in 2010.
VIETNAM INVESTS US$315 MLN IN NEW HYDRO-ELECTRIC PROJECTS
Kon Tum, Vietnam (ANTARA News/Asia Pulse) - Kon Tum province in Vietnam's Central Highlands has so far built about 70 small and medium hydro-electric projects with a total investment capital of 5 trillion VND (US$315 million).
Ten projects began construction in the first six months of this year at a total cost of 2.8 trillion VND.
The Dak Psi Hydro-electric Development Investment Company committed 600 billion VND to build four plants with a total capacity of 36 megawatts in the build-own-operate form.
Two of these are expected to generate power by 2010.
BHP BILLITON STARTS FIRST PRODUCTION ON NEPTUNE OIL OPERATION
Melbourne (ANTARA News/Asia Pulse) - BHP Billiton Ltd (ASX:BHP), Australia's biggest oil and gas producer, has started first production from the $A1.16 billion ($US1.12 billion) Neptune oil operation in the Gulf of Mexico, more than six months later than originally scheduled.
The 50,000 barrel per day facility was originally expected to be in production by the end of December, but that date was deferred until the end of March.
"The start-up of the Neptune project after several years of drilling, construction, and with the recent remediation work, is a significant accomplishment for BHP Billiton," petroleum chief executive Michael Yeager said in a statement.
S KOREA'S STX SHIPBUILDING WINS US$117.3 MLN ORDER
Seoul (ANTARA News/Asia Pulse) - South Korean shipyard the STX Shipbuilding Co. (KSE:067250) said Monday it had won an order worth 122.3 billion won (US$117.3 million) from a European shipping company to build two bulk carriers.
The deal called on STX Shipbuilding to deliver the vessels by April 2011, the local shipbuilder said in a regulatory filing. STX Shipbuilding did not disclose the name of the European company.
HYUNDAI HEAVY INDUSTRIES TO INVEST $US2 BLN IN CHINA
Beijing (ANTARA News/Asia Pulse) - Hyundai Heavy Industries (KSE:09540), the world's leading shipbuilder, will increase investment in the fields of sea transportation logistics, engineering machinery, new energy and airplane for civil use in China with investment to reach $US2 billion in the next five years, according to the company.
The company plans to invest $US50 million to set up an engineering machinery company in Shandong Tai'an.
It has also started to produce solar energy generating equipment in China and is planning to acquire shares of a Sichuan polycrystalline silicon company.
LG COMPLETES CONSTRUCTION OF SOUTH KOREA'S BIGGEST SOLAR PLANT
Seoul (ANTARA News/Asia Pulse) - The LG Group (KSE:66570), South Korea's third-largest family-run business conglomerate, said Sunday it had completed the construction of the nation's biggest solar panel plant, as part of the group's strategy to make inroads into the alternative energy market.
The solar plant in Taean county, about 110 kilometers southwest of Seoul, was capable of producing 14 megawatts of electricity a year, equivalent to the demand by some 8,000 homes, LG said.
LG spent 110 billion won (US$105 million) to build the facility.
STATE BANK OF PAKISTAN LAUNCHES 10-YEAR STRATEGY
Karachi (ANTARA News/Asia Pulse) - The State Bank of Pakistan (SBP) is launching a 10-year Financial Sector Strategy (FSS) to help achieve higher, sustainable economic growth; to develop a dynamic, robust and stronger banking system and to mobilize domestic and foreign resources for private investment.
The plan was unveiled by SBP Governor, Dr Shamshad Akhtar while addressing a Development Finance Conference on 'Expanding Frontiers of Financial Access in Pakistan' organized by SBP on the eve of the 60th Anniversary of the central bank here.
It was inaugurated by Prime Minister Syed Yousuf Raza Gilani.
"The vision we are articulating will take forward the banking sector to new heights, building on the outstanding performance of the sector in 4-5 years," he said.
VIETNAM IMPORT-EXPORT BANK OFFERS EXCHANGE RATE INSURANCE
Hanoi (ANTARA News/Asia Pulse) - The Vietnam Import-Export Bank (Eximbank) announced on July 3 that it will use VND2 trillion ($US118.7 million) to provide exchange rate insurance and credit support for importers and exporters.
The support and insurance will be made through the banks credit products and exchange rate insurance tools.
Eximbank has pledged to introduce the optimal solutions to importers and exporters to help them increase their competitiveness and develop their business, General Director Truong Van Phuoc said.
Eximbank is currently the largest commercial joint stock bank in Vietnam, with capital of more than VND12.6 trillion.
Source:
Business in Asia Today - July 7, 2008
published by Asia Pulse
COPYRIGHT © 2008
No comments:
Post a Comment