China Southern shareholders approve aircraft purchase plans
BEIJING (AFX) - China Southern Airlines Co Ltd (SHA 600029; HK 1055; ADR
ZNH), one of China's three largest airlines, said its plan to buy 13 Boeing B787
and 10 Airbus A330 aircraft has been approved by shareholders.
In September, China Southern Airlines signed agreements to buy 10 B787s for
1.2 bln yuan and 10 A330s for 1.5 bln usd.
The company's 60 pct-controlled unit Xiamen Airlines also signed a contract
in August with Boeing Co to buy three B787s at 123.2 mln usd each.
derek.jiang@xinhuafinance.com
dj/gf/tr
Now India wants part of the action ;-)
Indian Oil plans to team up with Sinopec for 4 bln usd China project - report
BOMBAY (AFX) - Indian Oil Corp (IOC) is planning to join hands with China's
state-owned China Petroleum and Chemical Corp (Sinopec) to build a 4 bln usd
refinery-cum-petrochemical complex in Shanghai, Business Standard reported.
It quoted an unidentified IOC executive as saying that the Indian company is
eyeing a 26 pct stake in the project, which is expected to go on-stream by 2009.
The newspaper said a proposal is likely to be placed before the Chinese
government during Petroleum Minister Mani Shankar Aiyar's visit to Beijing in
January.
The refinery is likely to come up in the northern part of Hangzhou Bay with
a capacity of 10 mln tonnes, the paper said, adding that the project will
include a million-tonne-per-annum ethylene cracker plant.
rc/
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