wiredinUSA July 2013

INDEX

Wind farm in the Seychelles

Taiwan's China Steel Corp has announced cuts in its steel wire and bar price by about $45 per tonne during July and August. It is expected that the lower wireandbar prices may help Taiwan's screw manufacturers to cut costs and secure more export orders during the third quarter of 2013. Taiwan's Chun Yu Group said that even if overseas buyers request the price cut on its screw products, the reduced raw material cost will still help themwin more orders from overseas markets. Tyscoons Group said CSC's price cut will force the group to reduce its wire prices, but that it will still benefit Tyscoons Group's screw product sales. Cut in fastener material costs

Renewable energy company Masdar has unveiled a 6MW wind farm in the Republic of Seychelles, funded by Abu Dhabi Fund for Development. The eight-turbine Port Victoria wind farm will generate enough electricity to power around 2,100 homes, reducing annual CO 2 emissions by 5,500 tons. Commentingon thedevelopment, Masdar CEO Sultan Ahmed Al Jaber said the new wind power project will redirect fuel savings into investments in infrastructure development, social programs and to boost economic growth. Elsewhere Masdar is developing several other renewable projects, including a 15MW solar power plant in the Islamic Republic of Mauritania, and a 500KW solar photovoltaic power plant on the island of Vava'u in the Kingdom of Tonga.

ASIA / AFRICA NEWS

wiredInUSA - July 2013

41