Archive | June, 2004

THAILAND: Tax breaks mulled for energy savers

The government is considering exempting energy-conscious factories from corporate income tax. The move would be an incentive for factories that follow the government’s energy-saving campaign, Energy Minister Prommin Lertsuridej told The Nation newspaper. According to the newspaper, Mr Prommin said the government might exempt energy-conscious factories from corporate income tax for a few years and […]

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RUSSIA: Transneft raises Japanese pipeline cost estimate to US$13 billion

MOSCOW (AFX) – Russian pipeline monopoly Transneft has raised the estimated cost of building a 4,200 kilometre pipeline from eastern Siberia via Asia-Pacific to Japan to US$13 billion from US$10 billion previously, Interfax news agency reported, citing chairman Simon Vainshtock. He also said the participation of foreign investors in the construction of pipelines in Russia […]

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JAPAN: Tokyo complains about China gas project

Tokyo has complained to Beijing that the latter’s construction of a gas production facility in the East China Sea could violate Japanese exclusive economic zone. Economy, Trade and Industry Minister Shoichi Nakagawa told reporters recently that a Chinese consortium has installed drilling facility, oil/gas separation equipment, a heliport and a housing facility in the area […]

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CHINA: State Environmental Protection Administration plan to reduce automotive emissions in China

German chemicals giant BASF said it has agreed with the Chinese Research Academy for Environmental Sciences (CRAES) to establish a strategic alliance in the fuels sector, with the aim of jointly building an engine test laboratory in Beijing. The laboratory will employ internationally standardised test procedures. BASF said: “The test results obtained with the new […]

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CHINA: Harbin Power may sell stakes to GE, Alstom, Mitsubishi Heavy – report

BEIJING (AFX-ASIA) – Harbin Power Equipment Co Ltd has begun talks on selling an equity stake to General Electric, France’s Alstom and Japan’s Mitsubishi Heavy Industries to bolster the Chinese company’s access to advanced technology and management techniques, the Financial Times reported, citing government officials and company executives. Gu Huanmin, assistant governor of Heilongjiang province, […]

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PHILIPPINES: Petron signs US$100 million loan deal for refinery upgrade

MANILA (AFX-ASIA) – Petron Corp said it has signed a five-year US$100 million loan deal with Nordeutsche Landesbank Girozentrale, Citigroup, ING Bank and Saudi American Bank, to finance projects in connection with the oil refiner’s compliance with the Clean Air Act. The company’s projects include the construction of a hydrotreater and isomerisation plants at its […]

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MALAYSIA: Oilcorp bid for RM320 million worth of offshore construction projects

Engineering and construction company Oilcorp Bhd has bid for offshore construction projects locally and overseas worth a total of RM320 million to replenish its order book, said its group managing director Sunny Ng Huat Tian. (US$1=RM3.8). About RM200 million worth of the targeted projects are in the Middle East while the remaining were local projects, […]

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AUSTRALIA: Government announces A$24.6 million grant for bio-fuels industry

The Australian government said it has offered grants totalling A$24.6 million to five biofuels projects in four states under the first round of its Biofuels Capital Grants Programme. (US$1=A$1.45). The one-off capital grants will fund projects that were competitively judged by Invest Australia to be the best prepared for commercial operation. Of the 41 applications […]

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