Asia

Boeing has secured its biggest ever commercial aircraft deal with a 230-plane, $21.7 billion order from Indonesia’s Lion Air.

The airline is ordering 201 737 MAXs and 29 Next-Generation 737-900 ERs (extended range), with the deal also inclusive of purchase rights for an additional 150 airplanes, valued at more than $14 billion if exercised at list prices.

Spanish solar-PV power generator T-Solar has announced it is expanding with the construction of a further 61 MW in Peru and India.

The group, which already has over 230 MW under operation and construction in Spain, Italy, India and Peru, has just brought its first PV power plant in India online. The new 5 MW plant uses thin-film amorphous silicon panels produced in the company's Galicia factory.

The new plant is located near the city of Jodhupur, Rajasthan, from which it will be feeding 8.5 GWh a year into India’s national electricity grid.

International Paper today announced the completion of its acquisition of a 75 percent stake in Andhra Pradesh Paper Mills (APPM) of India.

International Paper purchased 53.5 percent of the APPM shares from Mr LN Bangur and related family members and affiliates for approximately US$226 million in cash, plus $57 million for a covenant not to compete.

It has also acquired an additional 21.5 percent of APPM shares in a public tender offer completed on October 8, 2011, for approximately US$105 million in cash.

London, UK-based Eurasian Natural Resources Corporation (ENRC) has announced plans to acquire the shares of Kazak thermal coal producer Shubarkol Komir that it does not already own.

ENRC, which currently owns 25 per cent of Shubarkol, said that its directors have unanimously approved to exercise rights to acquire the 2,638,103 outstanding shares for up to $600 million, plus assumed debt of $50 million.

Ivanhoe Mines, Rio Tinto and the government of Mongolia have reached an agreement on the stakeholding of the Oyu Tolgoi project in the Asian country.

The government was seeking to raise its stake in the mine, which is expected to go into production during the third quarter of next year, from 34 per cent to 50 per cent.

The government has now agreed for its stake to remain at 34 per cent.

Timezone has a time honoured format but is ahead of the games industry in every important respect, offering value for each dollar the customer spends.

Turkey is something of an unknown and misunderstood place; but as Alan Swaby learns, there is at least one mining entrepreneur who has complete faith in its future.

Considering the amount of exploration that’s taken place in some of the most obscure corners of the world, it’s something of a surprise that Turkey’s mineral resources are so underdeveloped. At least it is to Alan Clegg, founder and CEO of Red Crescent Resources (RCR)—although he’s not complaining too much, as it leaves the field wide open for RCR at the moment.

Praxair is the largest industrial gases company in North and South America and one of the largest worldwide, expecting global sales in 2011 to exceed $11 billion. Praxair India is one of its strongest subsidiaries, bringing to Indian customers a high quality service culture unique to Praxair globally.

Ireland’s PetroNeft Resources has announced the discovery of an additional oil field within its licence at North Varyakhskaya, Russia.

The field is the seventh to be discovered in Licence 61, which is situated at Tomsk Oblast in south-western Siberia.

Tungolsky Licence 61, acquired by the company in May 2005, is located on the east side of the Ob River in the least explored oil-bearing region in the area. The licence covers 4,991 square kilometres.

Proven plus probable reserves within the licence area are estimated to be 83 million barrels.

New partners from Germany and France have been signed up to the South Stream gas pipeline project, it has been announced.

Germany’s Wintershall Holding and France’s EDF have each acquired a 15 per cent stake in the offshore section of the South Stream project through a 30 per cent reduction of Italian Eni's stake.

South Stream is a project conceived by Russia’s Gazprom to construct a gas pipeline across the Black Sea to South European and Central European countries, for the purpose of diversifying natural gas export routes.