. Space Travel News .




.
TRADE WARS
Taiwan firms plan $4.5 bn China project despite ban
by Staff Writers
Taipei (AFP) Aug 18, 2011

A group of Taiwan firms have signed a contract to set up a $4.5-billion refinery complex in China, defying a ban against such projects imposed by the island's government, officials and media said Thursday.

The group, led by Ho Tung Chemical, inked the investment agreement with the government of southeast China's Fujian province and with Sinopec, China's biggest petrochemical group, in Beijing on Tuesday.

The agreement was signed after Taiwan's government, citing environmental considerations, rejected a similar, controversial $20 billion project for a giant refinery and petrochemical complex in western Taiwan.

"Since the project has hit a snag, the government must find a way out for local petrochemical companies, or the companies will gradually disappear," Ho Tung founder Chen Wu-hsiung told the Taipei-based Economic Daily News.

Local companies are still barred from investing in China's refinery industry and some high-tech sectors despite eased tensions following the election of Beijing-friendly politician Ma Ying-jeou as Taiwan president in 2008.

The planned venture, based in Fujian, will have capacity to refine an annual 16 million tonnes of oil and 1.2 million tonnes of ethylene, a key organic compound widely used in industry.

A Taiwan-based complex of this type has been under consideration since the 1990s but has had its location changed several times due to strong objections from local residents and environmentalists.

Activists insist that Taiwan, long plagued by industrial pollution, can no longer afford such large energy-guzzling projects and have staged a string of street protests against the proposal.

In response, Taiwan's economic ministry reiterated the government's ban on investment in refineries on the mainland by Taiwanese investors.

"The ministry is reviewing the ban, but before that can be done, the ban still stands," the ministry said in a statement.

Taiwan and the Chinese mainland split in 1949 at the end of a civil war.




Related Links
Global Trade News

.
Get Our Free Newsletters Via Email
...
Buy Advertising Editorial Enquiries




Coca-Cola to invest $4 billion in China
Shanghai (AFP) Aug 18, 2011 - American soft drinks giant Coca-Cola said Thursday it will invest $4 billion in China over the next three years, as it deepens its expansion into the world's second largest economy.

The huge investment, starting from 2012, will follow an estimated spend of more than $3 billion in the three years to the end of 2011, the world's biggest soft drinks maker said in a statement.

Coca-Cola's growth in emerging markets has helped it weather the weak US economy.

Chairman and chief executive Kent Muhtar said China was one of the biggest growth markets for the company.

Sales volumes have doubled over the last five years, spurred by strong demand for Coca-Cola brand and Minute Maid Pulpy, China's most popular juice brand, he said in the statement.

In an interview with the official Xinhua news agency, Muhtar said he believed China, currently the company's third biggest market following the United States and Mexico, would eventually become its largest global market.

Coca-Cola would be interested in listing on the planned international board of the Shanghai Stock Exchange, he added.

"It will be a mutually beneficial action if we are listed," he said during a visit to Shanghai.

China has said it would allow foreign companies to sell shares on the domestic stock market as part of efforts to build Shanghai into an international financial hub, but it has yet to unveil detailed regulations.

Coca-Cola operates more than 40 plants in China, employing more than 48,000 people, it said in the statement.





. Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle



TRADE WARS
China's CITIC Securities plans Hong Kong share sale
Hong Kong (AFP) Aug 17, 2011
Citic Securities, China's biggest listed brokerage, is planning to raise about US$1.5 billion in a Hong Kong share sale with a flotation of its shares as early as September, a report said Wednesday. The firm will seek approval later this month for a listing in the southern Chinese city, Dow Jones Newswires reported, citing unnamed sources. The Financial Times said the brokerage, which is ... read more


TRADE WARS
China successfully launches maritime satellite

NASA selects Virgin Galactic for Suborbital Flights

Arabsat-5C is welcomed in French Guiana for Arianespace's next Ariane 5 launch

SES-2 Satellite Launch Preparations Kick off in Kourou

TRADE WARS
Arrival in the Arctic

Opportunity Reaches Endeavour Crater

Lava, not water, said cause of Mars beds

No Convenience Stores Between Earth and Mars... Yet

TRADE WARS
GRAIL Launch Less Than One Month Away

The Lunar Farside And The Ancient Big Splat

"Big Splat" May Explain The Moon's Mountainous Far Side

LADEE Completes Mission Critical Design Review

TRADE WARS
The PI's Perspective: Visiting Four Moons, in Just Four Years, for All Mankind

Citizen Scientists Discover a New Horizons Flyby Target

View from the Summit: Hunting for KBOs at the Top of the World

Hubble telescope spots tiny fourth moon near Pluto

TRADE WARS
Alien World is Blacker than Coal

Strange planet is blacker than coal

Exoplanet Aurora Makes For An Out-of-this-World Sight

Distant planet aurorae modeled

TRADE WARS
US looks for answers after hypersonic plane fails

US military loses contact with hypersonic aircraft

NASA Selects Companies To Study Storing Cryogenic Propellants In Space

Ball Aerospace Develops Flight Computers for Next-Generation Launch Vehicles

TRADE WARS
No Toilet for Tiangong

Toys for Tiangong

Why Tiangong is not a Station Hub

China to launch experimental satellite in coming days

TRADE WARS
NASA Plans to Visit a Near-Earth Asteroid

Comet Elenin Poses No Threat to Earth

Asteroid Photographer Beams Back Science Data

A Comet Collision to Come?


Memory Foam Mattress Review
Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News
.

The content herein, unless otherwise known to be public domain, are Copyright 1995-2011 - Space Media Network. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement