Foreign business news in brief

  • Business
  • Saturday, 08 Mar 2003

SEOUL: Samsung Heavy Industries Co Ltd has won orders to build 13 container ships and seven oil carriers for about US$1.1bil from Canadian and European companies. 

The contracts bring the total number of orders received by the company in the three months to March to US$2bil, which represents about 60% of its US$3.5bil target for the full year. – AFX 

  • Another perspective from The Korea Herald, a partner of Asia News Network. 

    TOKYO: Mitsubishi Heavy Industries Ltd and three other firms have won a 75 billion yen (US$640mil) contract to supply 10 gas turbines as well as core machinery to China’s electric utilities. 

    Other members of the consortium are Mitsubishi Corp, Mitsubishi Electric Corp and China’s Dong Fang Electric Corp.  

    The deal is part of China’s national project to shift from coal-fired to more energy efficient gas-fired thermal power plants. – Reuters 

  • Another perspective from The Yomiuri Shimbun, a partner of Asia News Network. 

    HONG KONG: DHL Worldwide Express Inc has confirmed buying an additional 10% stake in cargo carrier Air Hong Kong from a unit of Cathay Pacific Airways, but gave no financial details. The deal brings DHL’s stake in Air Hong Kong to 40% and reduces Cathay’s to 60%. 

    As part of its plans to make Hong Kong a regional cargo hub, DHL is planning to build a new cargo terminal at the territory’s Chek Lap Kok Airport, while Air Hong Kong is expanding its fleet. – AP 

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