Beijing may need to cut power load
to parts of the city by up to 1.02
gigawatts (GW) at some point
in the summer months due to fast rising
demand and limited supply capacity,
the State Grid Corp of China (SGCC)
has revealed. However, the latest forecast
was smaller than earlier estimates
of a maximum deficit of 3GW in the Chinese
capital reported by local media in late
April.
Maximum power load in Beijing is expected
to reach 19.1GW in summer, up 14.65%
from last year’s peak of 16.66GW, SGCC
said in a report on its website. Electricity
consumed by air conditioners alone
could top 8GW at some point in summer,
or more than 40% of power load in the
city.
Improved outlook for
Beijing power shortfalls
Kazakhmys the world’s tenth-largest
copper miner, has secured a $1.5 billion
loan from China to develop one of its
most promising copper fields and to
increase supplies of the metal to its
largest market.
Kazakhmys expects to conclude
the full loan agreement with state-run
China Development Bank this year,
allowing it to develop its Aktogay field
in Kazakhstan without selling a stake in
the deposit to China’s Jinchuan Group
Ltd. The Aktogay deposit contains an
estimated 5 million tonnes of copper.
Kazakhmys has said investment of around
$2 billion will be required to bring the
field into operation at an annual rate of
100,000 tonnes of copper-in-concentrate
from 2015.
The loan would be disbursed at close
to market rates, chief executive Oleg
Novachuk said, after signing amemorandum
of understanding with China Development
Bank vice-president Gao Jian.
“Today, Kazakhmys supplies around 60
percent of its entire production to China,”
Novachuk told reporters. “We are working
on increasing our supplies to China.”
Kazakhmys secures
$1.5 bn China copper loan
PolyOne Corporation will open a new
polymer distribution warehouse and sales
facility in Shanghai, China on 1st July;
the first entry point for PolyOne Distribution
into Asia.
“PolyOne Distribution [has] a backlog
of customer requests to expand our
distribution services globally,” said
Stephen D Newlin, chairman, president
and chief executive officer. “With our
most recent investment in Asia, PolyOne
Distribution is accelerating the globalization
and customer service offerings
of this very important platform.”
PolyOne has emerged as an important
supplier of polymer materials, services
and solutions in the healthcare industry
and the initial focus of PolyOne’s investment
in Asia will be servicing healthcare
customers. However, the company plans
to broaden its Asia distribution service to
customers in other industries over the next
year.
PolyOne moves
into Asia
ASIA NEWS
The first-quarter report shows continued
growth in Asia Pacific Wire & Cable
Corporation’s revenue and gross profit.
The company’s solid results are said to
reflect a sustained customer demand
for its principal manufactured products,
particularly for power cable, enameled
wire, and telecommunications cable,
across the company’s major geographic
markets.
Revenues were $121.8 million,
an increase of 16.1% from $104.8 million
in the same period in 2010. Gross profit
increased to $13.0 million, an increase
of 13.5% from $11.4 million from the first
quarter of 2010, though gross profit
margin was 10.6%, compared with 10.9%
a year ago.
Net income attributable to APWC
shareholders was $2.7 million,
compared with $3.7 million in the same
period in 2010, with basic and diluted
earnings per share of $0.20, compared
with $0.27 in the first quarter of 2010.
Q1 2011 results from Asia
Pacific Wire & Cable
Picture : Pascal Thauvin
wiredInUSA July
wiredInUSA July
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