Asia-Pacific Business News: Key Developments in 1998

Strategic Insights -

In 1998, various significant business developments were reported in the Asia-Pacific region. CMS Energy Corporation won a bid to develop a $US1.6 billion power and gas plant in India, while Southern Cross Pipelines Australia consortium completed the purchase of a significant share of the Goldfields Transmission Pipeline in Western Australia. Additionally, Fourth Shift Asia Computer Corporation appointed a new president for its Tianjin China Chapter, and Castle Harlan acquired AMR Services, a subsidiary of AMR Corporation.

Key Takeaways:

  • CMS Energy Corporation's consortium won the bid to develop a $US1.6 billion power and gas plant in Enmore, Tamil Nadu, India, with the lowest tariff-based bid.
  • The consortium consisted of CMS Energy, Unocal Bharat Limited, Grasim Industries, Woodside Petroleum, and Siemens Project Ventures.
  • The project is the largest energy infrastructure project envisioned for the State of Tamil Nadu and will provide a secure source of long-term power and economical natural gas supplies.
  • Southern Cross Pipelines Australia consortium completed the purchase of WMC's 62.67% share of the Goldfields Transmission Pipeline in Western Australia.
  • Benjamin Lee, marketing manager of Fourth Shift Asia Computer Corporation, was appointed president of the Tianjin China Chapter of the American Chamber of Commerce.
  • Lee has spent the past seven years in China and has chaired the Asian Fourth Shift User Group conference for the past three years.
  • Castle Harlan acquired AMR Services, a subsidiary of AMR Corporation, which provides ground services for over 200 airlines at major airports globally.
  • AMR Services counts most of the world's major airlines, including American, Air France, British Airways, Delta, and United, among its customers.

Statistics:

  • $US1.6 billion: the value of the power and gas plant project won by CMS Energy Corporation's consortium.
  • 62.67%: the share of WMC's Goldfields Transmission Pipeline purchased by Southern Cross Pipelines Australia consortium.
  • 200: the number of airlines that AMR Services provides ground services for globally.
  • 60: the number of major airports at which AMR Services provides ground services.
  • 3 years: the duration for which Benjamin Lee has chaired the Asian Fourth Shift User Group conference.

Sources:

  • AsiaNet press releases distributed by Asia Pulse on December 29, 1998
  • Asia Pulse (C) 1998 Asia Pulse Pte Ltd
  • COMTEX (http://www.comtexnews.com)