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COPYRIGHT 2008 Asia Pulse Pty Ltd
Business in Asia on May 13, 2008. A summary prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, market intelligence and business opportunities:
JGC PICKED TO BUILD MIDEAST'S BIGGEST OIL PLANT IN KUWAIT
TOKYO - JGC Corp. (TSE:1963) said Monday that its alliance has been awarded a project in Kuwait to construct the largest oil production plant in the Middle East. JGC and South Korean firm GS Engineering & Construction Corp. will jointly build crude oil distillation and desulfurization facilities for about 400 billion yen (US$3.9 billion) by 2012. JGC's share of the contract is expected to top 200 billion yen. The two partners will soon sign the contract with the Kuwait National Petroleum Co. Construction of the entire plant is estimated to exceed 1 trillion yen.
INDIA'S BAJAJ, RENAULT AND NISSAN JOIN HANDS TO MAKE US$2,500 CAR
NEW DELHI - Bajaj Auto Ltd (BSE:500490), India's second largest two-wheeler maker, on Monday announced a joint venture with Renault and Nissan (TSE:7201) to produce a US$2,500 car by 2011 that will compete with the Nano, the world's cheapest car from Tata Motors (BSE:500570). The JV for manufacturing the small car, code-named ULC, would be...
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