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In Brief

In Brief

Hyundai to build Qatar power plants
Hyundai Engineering & Construction Co., South Korea's largest builder by market value, received US$301 million of orders from Qatar to build power-generation facilities.
Qatar General Electricity & Water Corp. placed a US$201 million order for a transformer substation, Seoul-based Hyundai Engineering said in an e-mailed statement yesterday. Hyundai Engineering also won a US$100 million power cabling contract from the company, also known as Kahramaa.
South Korean builders, including Hyundai Engineering and Doosan Heavy Industries & Construction Co., may receive combined annual orders from abroad of as much as US$40 billion until 2011. Hyundai Engineering expects to win US$4.2 billion of contracts from overseas this year, 7.7 percent more than the US$3.9 billion it received last year.
Japanese economy
Heizo Takenaka, Japan's former economy minister, said the country needs "strong" measures to revitalize its economy.
Possible steps may include reducing corporate taxes and extending operations around the clock at Haneda Airport, Takenaka said on a news program broadcast by TV Asahi. He didn't provide more details.
The former minister also said he expects the U.S. government to inject public funds to ease the impact of the subprime- mortgage crisis.
"Sooner or later, the U.S. will take this measure," Takenaka said, without elaborating.
Gasoline shortages
Royal Dutch Shell Plc and BP Plc, two of Australia's four crude-oil refiners, apologized in Sunday newspapers for shortages of gasoline in the Sydney region amid accusations of unwarranted price increases.
Shell's V-Power, 95-octane unleaded and premium unleaded gasoline have been unavailable "for some weeks" in New South Wales because of the shutdown of a refinery unit, the company said yesterday in the Sun-Herald. BP cited production issues at local refineries and constraints on imports for an "unprecedented level" of fuel supply shortages.
Shell said in January it halted its catalytic cracking unit at the Clyde refinery in Sydney after "erratic" performance, bringing forward a shutdown for maintenance. The NRMA motoring organization said it is monitoring prices and reporting price discrepancies to the national competition regulator.


Updated : 2021-10-21 18:58 GMT+08:00