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Article Excerpt
SYDNEY, Australia, May 27 /PRNewswire/ -- A round-up of Asian stock markets prepared by Asia Pulse (http://www.asiapulse.com/), the real-time, Asia-based wire with exclusive news, commecial intelligence and business opportunities.
VOLKSWAGEN TO BUILD US$189 MLN JV PLANT IN CHINA'S DALIAN
BEIJING - German auto giant Volkswagen will partner with China's top vehicle producer, First Automotive Works Corp (FAW), to build an US$189 million engine joint venture plant in Dalian, a port city in China's Liaoning Province. The joint venture will start operations at the beginning of 2007, and will have an initial annual production capacity of 150,000 engines initially, which could be expanded to 300,000 units. Volkswagen holds a 60% stake in the engine venture with FAW holding a 40% stake. The plant will supply Volkswagen's joint ventures with FAW and Shanghai Automotive Industry Corp.
SINGAPORE'S PPL SHIPYARD WINS US$130 MLN JACK-UP RIG CONTRACT
SINGAPORE - PPL Shipyard, a subsidiary of SembCorp Marine, has secured a US$130 million contract for the construction of a deep drilling offshore jack-up rig. The Singaporean firm was awarded the rig building contract by Japan Drilling Co. PPL will build a...
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