JAPAN'S OKAMURA TO ADD FACTORY TO LIFT FURNITURE OUTPUT
Tokyo (ANTARA News/Asia Pulse) - Okamura Corp. (TSE:7994) has said it will invest 12 billion yen (US$118.87 million) to add a new production facility at its existing plant in Tsukuba, Ibaraki Prefecture, to tap demand for office furniture in the Tokyo metropolitan area.
The new three-story building will have a total floor space of 64,800 sq. meters. This facility is expected to increase the company's annual production capacities for desks and storage furniture 50 per cent to 400,000 units and 800,000 units respectively.
Production is scheduled to kick off in June 2010.
UZBEKNEFTEGAZ TO BUILD NEW PROPANE/BUTANE MIX PLANT
Tashkent (ANTARA News/Asia Pulse) - UzbekNefteGaz National Holding Company plans to build a new propane/butane production plant on the resource base of the fields of Shurtan group in the south of the country (total worth some US$130 million).
A source in the management of the company said that according to the preliminary results of the feasibility study the plant will process about 6 billion cubic meters (cbm) of natural gas yearly and produce up to 104,000 tonnes of the technical propane/butane mix with the separation of up to 56,000 tonnes of propane and 48,000 tonnes of butane, and 44,000 tonnnes of stable gasoline petrol yearly.
The project will be financed through foreign investments.
DAEWOO SHIPBUILDING WINS US$566MLN ORDER FOR DRILL SHIP
Seoul (ANTARA News/Asia Pulse) - Daewoo Shipbuilding & Marine Engineering Co. (KSE:42660), the world's second-largest shipbuilder, said Monday that it has won a 554 billion won (US$566 million) order to build a drill ship.
The deal from an American customer calls for Daewoo Shipbuilding to deliver the vessel, used for deep-water oil exploration, by September 2010, the company said in a regulatory filing.
Shipyards in South Korea, the world's largest shipbuilding nation, have received record orders in recent years as demand has surged for vessels to transport raw materials to China and goods to the rest of the world.
JETSTAR PARTNERS WITH VIETNAMESE AIRLINE
Sydney (ANTARA News/Asia Pulse) - Qantas Airways Ltd (ASX:QAN) subsidiary Jetstar has entered into a strategic and commercial partnership with Vietnam's Pacific Airlines to grow the airline in Vietnam and Asia under the Jetstar brand.
As of May 23, 2008, Vietnam's second-largest carrier, Pacific Airlines, will complete its transformation to become Vietnam's first low-cost, value-based airline and will be renamed Jetstar Pacific (Jetstar Pacific Airlines Joint Stock Aviation Company).
The Qantas Group, which made an initial investment of 18 per cent in Pacific Airlines in July 2007, will increase its investment in the airline to 30 per cent in 2010.
S. KOREAN TRAIN MAKER ROTEM WINS US$170MLN U.S DEAL
Seoul (ANTARA News/Asia Pulse) - The Rotem Co., an affiliate of South Korea's leading automaker Hyundai Motor Co., said Tuesday it had won a US$170 million contract to supply passenger trains to the city of Boston.
The contract with the Massachusetts Bay Transportation Authority (MBTA) calls for Rotem to deliver 75 rail cars by 2012, the South Korean company said. Earlier, Rotem won similar deals with Philadelphia and Los Angels.
The company is building a plant with an annual production capacity of 200 rail cars to widen its market share in the U.S.
PLAN UNVEILED TO PRIVATIZE KOREAN DEVELOPMENT BANK
Seoul (ANTARA News/Asia Pulse) - President Lee Myung-bak said Sunday that his administration WAS determined to privatize the state-run Korea Development Bank (KDB) in three years, as part of its drive for sweeping deregulation of the nation's financial sector.
"My government's policy to privatize the KDB remains unchanged and will be completed in three years, depending on market circumstances," Lee told a press conference.
His government was now mulling over the creation of mega-banks in Korea to cope with the increasingly competitive global financial industry.
LEIGHTON'S HWE MINING AWARDED PILBARA CONTRACT
Sydney (ANTARA News/Asia Pulse) - Leighton Contractors' (ASX:LEI) HWE Mining Pty Limited has been awarded a $344 million contract to provide mine development services at Rio Tinto's (ASX:RIO) Mesa A iron ore operation, 50 kms from Pannawonica in Western Australia's Pilbara.
The project was HWE's first major contract from Rio Tinto, Leighton said today.
HWE will design and construct the mine's ore handling and train loading plant and associated mine infrastructure.
It also will carry out pre-strip work to establish the Mesa A operation by late 2009. On stream, the Mesa A mine is planned to produce 25 million tonnes of iron ore per year.
POWER GENERATION FIRM WARTSILA AWARDED PAKISTAN CONTRACT
Lahore (ANTARA News/Asia Pulse) - Finnish power solutions firm Wartsila has been awarded an EPC (engineering, procurement and construction) contract worth EUR 134 million ($US210.8 million) by Nishat Power Ltd., an independent power producer that will supply electricity to the national grid in Pakistan.
The combined cycle plant will have a total gross electrical power output of 200 MWe.
The power plant is due to be operational by September 2009 and will be located near Lahore, the second most populous city in Pakistan.
"This power plant to Nishat Group will further strengthen Wartsila's position as the market leader in the supply of private power plants in Pakistan," saID Mr. Christoph Vitzthum, Group Vice President, Wartsila Power Plants.
TOYOTA'S 2ND INDIAN PLANT TO FOCUS ON LOW-PRICED COMPACT MODELS
Nagoya (ANTARA News/Asia Pulse) - Toyota Motor Corp.'s (TSE:7203) second Indian auto plant will manufacture lower-priced subcompact vehicles for both the local market and for export.
This would mark the first time for Toyota to set aside some of its Indian production for export to other markets.
Toyota said it will invest around 35 billion yen (US$346.71 million) to build its second auto assembly plant near its existing facility in Bangalore, a move that will boost the automaker's total output capacity there by around 170 per cent from current levels to roughly 160,000 units a year.
The plant, which is scheduled to begin operations in 2010 with an annual output capacity of 100,000 units, will focus primarily on the production of 1-liter class subcompacts currently under development by Toyota.
GS CALTEX INCREASES DAILY HEAVY REFINING CAPACITY
Seoul (ANTARA News/Asia Pulse) - South Korea's second-largest refiner GS Caltex Co. said Monday it had increased its daily heavy-oil refining capacity by 8,000 barrels because of improved technologies.
The daily heavy-oil processing capacity was raised to 153,000 barrels from 145,000 barrels due to the improved operation technologies of its two plants that process heavy oil into transportation fuels such as gasoline, GS Caltex said in a statement.
The capacity expansion had increased the refiner's ratio of heavy-oil processing capacity to crude-oil to 22.5 per cent from 21.3 per cent, GS Caltex said.
Source:
Business in Asia Today - APRIL 14, 2008
published by Asia Pulse
COPYRIGHT © 2008
Tokyo (ANTARA News/Asia Pulse) - Okamura Corp. (TSE:7994) has said it will invest 12 billion yen (US$118.87 million) to add a new production facility at its existing plant in Tsukuba, Ibaraki Prefecture, to tap demand for office furniture in the Tokyo metropolitan area.
The new three-story building will have a total floor space of 64,800 sq. meters. This facility is expected to increase the company's annual production capacities for desks and storage furniture 50 per cent to 400,000 units and 800,000 units respectively.
Production is scheduled to kick off in June 2010.
UZBEKNEFTEGAZ TO BUILD NEW PROPANE/BUTANE MIX PLANT
Tashkent (ANTARA News/Asia Pulse) - UzbekNefteGaz National Holding Company plans to build a new propane/butane production plant on the resource base of the fields of Shurtan group in the south of the country (total worth some US$130 million).
A source in the management of the company said that according to the preliminary results of the feasibility study the plant will process about 6 billion cubic meters (cbm) of natural gas yearly and produce up to 104,000 tonnes of the technical propane/butane mix with the separation of up to 56,000 tonnes of propane and 48,000 tonnes of butane, and 44,000 tonnnes of stable gasoline petrol yearly.
The project will be financed through foreign investments.
DAEWOO SHIPBUILDING WINS US$566MLN ORDER FOR DRILL SHIP
Seoul (ANTARA News/Asia Pulse) - Daewoo Shipbuilding & Marine Engineering Co. (KSE:42660), the world's second-largest shipbuilder, said Monday that it has won a 554 billion won (US$566 million) order to build a drill ship.
The deal from an American customer calls for Daewoo Shipbuilding to deliver the vessel, used for deep-water oil exploration, by September 2010, the company said in a regulatory filing.
Shipyards in South Korea, the world's largest shipbuilding nation, have received record orders in recent years as demand has surged for vessels to transport raw materials to China and goods to the rest of the world.
JETSTAR PARTNERS WITH VIETNAMESE AIRLINE
Sydney (ANTARA News/Asia Pulse) - Qantas Airways Ltd (ASX:QAN) subsidiary Jetstar has entered into a strategic and commercial partnership with Vietnam's Pacific Airlines to grow the airline in Vietnam and Asia under the Jetstar brand.
As of May 23, 2008, Vietnam's second-largest carrier, Pacific Airlines, will complete its transformation to become Vietnam's first low-cost, value-based airline and will be renamed Jetstar Pacific (Jetstar Pacific Airlines Joint Stock Aviation Company).
The Qantas Group, which made an initial investment of 18 per cent in Pacific Airlines in July 2007, will increase its investment in the airline to 30 per cent in 2010.
S. KOREAN TRAIN MAKER ROTEM WINS US$170MLN U.S DEAL
Seoul (ANTARA News/Asia Pulse) - The Rotem Co., an affiliate of South Korea's leading automaker Hyundai Motor Co., said Tuesday it had won a US$170 million contract to supply passenger trains to the city of Boston.
The contract with the Massachusetts Bay Transportation Authority (MBTA) calls for Rotem to deliver 75 rail cars by 2012, the South Korean company said. Earlier, Rotem won similar deals with Philadelphia and Los Angels.
The company is building a plant with an annual production capacity of 200 rail cars to widen its market share in the U.S.
PLAN UNVEILED TO PRIVATIZE KOREAN DEVELOPMENT BANK
Seoul (ANTARA News/Asia Pulse) - President Lee Myung-bak said Sunday that his administration WAS determined to privatize the state-run Korea Development Bank (KDB) in three years, as part of its drive for sweeping deregulation of the nation's financial sector.
"My government's policy to privatize the KDB remains unchanged and will be completed in three years, depending on market circumstances," Lee told a press conference.
His government was now mulling over the creation of mega-banks in Korea to cope with the increasingly competitive global financial industry.
LEIGHTON'S HWE MINING AWARDED PILBARA CONTRACT
Sydney (ANTARA News/Asia Pulse) - Leighton Contractors' (ASX:LEI) HWE Mining Pty Limited has been awarded a $344 million contract to provide mine development services at Rio Tinto's (ASX:RIO) Mesa A iron ore operation, 50 kms from Pannawonica in Western Australia's Pilbara.
The project was HWE's first major contract from Rio Tinto, Leighton said today.
HWE will design and construct the mine's ore handling and train loading plant and associated mine infrastructure.
It also will carry out pre-strip work to establish the Mesa A operation by late 2009. On stream, the Mesa A mine is planned to produce 25 million tonnes of iron ore per year.
POWER GENERATION FIRM WARTSILA AWARDED PAKISTAN CONTRACT
Lahore (ANTARA News/Asia Pulse) - Finnish power solutions firm Wartsila has been awarded an EPC (engineering, procurement and construction) contract worth EUR 134 million ($US210.8 million) by Nishat Power Ltd., an independent power producer that will supply electricity to the national grid in Pakistan.
The combined cycle plant will have a total gross electrical power output of 200 MWe.
The power plant is due to be operational by September 2009 and will be located near Lahore, the second most populous city in Pakistan.
"This power plant to Nishat Group will further strengthen Wartsila's position as the market leader in the supply of private power plants in Pakistan," saID Mr. Christoph Vitzthum, Group Vice President, Wartsila Power Plants.
TOYOTA'S 2ND INDIAN PLANT TO FOCUS ON LOW-PRICED COMPACT MODELS
Nagoya (ANTARA News/Asia Pulse) - Toyota Motor Corp.'s (TSE:7203) second Indian auto plant will manufacture lower-priced subcompact vehicles for both the local market and for export.
This would mark the first time for Toyota to set aside some of its Indian production for export to other markets.
Toyota said it will invest around 35 billion yen (US$346.71 million) to build its second auto assembly plant near its existing facility in Bangalore, a move that will boost the automaker's total output capacity there by around 170 per cent from current levels to roughly 160,000 units a year.
The plant, which is scheduled to begin operations in 2010 with an annual output capacity of 100,000 units, will focus primarily on the production of 1-liter class subcompacts currently under development by Toyota.
GS CALTEX INCREASES DAILY HEAVY REFINING CAPACITY
Seoul (ANTARA News/Asia Pulse) - South Korea's second-largest refiner GS Caltex Co. said Monday it had increased its daily heavy-oil refining capacity by 8,000 barrels because of improved technologies.
The daily heavy-oil processing capacity was raised to 153,000 barrels from 145,000 barrels due to the improved operation technologies of its two plants that process heavy oil into transportation fuels such as gasoline, GS Caltex said in a statement.
The capacity expansion had increased the refiner's ratio of heavy-oil processing capacity to crude-oil to 22.5 per cent from 21.3 per cent, GS Caltex said.
Source:
Business in Asia Today - APRIL 14, 2008
published by Asia Pulse
COPYRIGHT © 2008
No comments:
Post a Comment