Asia

On December 24, 2013 during MSC’s weekly service to Colombo from KPCT, its vessel MV MSC SIERRRA-II became part of an historic moment when 641 TEUs were exchanged with the vessel, with a record hourly crane productivity of 48.6 containers and a berth productivity of 96.64 containers per hour. Two super post-panamax quay cranes, were used by the terminal in order to achieve its most efficient crane productivity. Not only was this Krishnapatnam Port’s best crane performance at KPCT to date, but also one of the highest achieved by any container terminal in India.

The 50-50 venture, which will take the name Dongfeng Renault Automotive Co Ltd, plans to build some 150,000 vehicles and engines a year, has been valued at $1.27 billion.

China is the largest car market in the world, where official figures have shown vehicle sales rose by 4.3 percent in 2012 to 19.3 million, however until now Renault has remained one of the few large car makers to lack a facility in the country.

Under Chinese trade laws, foreign carmakers looking to launch manufacturing operations in China must have a local partner.

Hyderabad, the capital city of Andhra Pradesh, sits on the banks of the Musi River to the north of the Deccan Plateau. With a metropolitan population approaching eight million people it is the fifth most populous city in India. India’s cities generally experience the same challenges of traffic, pollution, pressure on services and the like as those in other parts of the world, but they have their unique characteristics as well according to the Managing Director of Hyderabad Metro Rail Limited NVS Reddy.

The Japanese carmaker set its target on the same day it unveiled a concept fuel cell-powered car, dubbed the FCV, at the Tokyo Motor Show. It also comes in the same week that Hyundai stated that it plans to start mass production of such vehicles early next year.

Many carmakers have been looking to develop the fuel cell technology further and bring it to mass production. The technology itself uses hydrogen to generate electricity to power the engine and the waste products are heat and harmless water.

The country’s central bank has unveiled new rules that will allow foreign banks to expand their presence by opening branches anywhere in India. In order to do so the subsidiaries will be required to hold minimum capital of five billion rupees ($80 million).

The changes are a part of the push by the central bank's new governor, Raghuram Rajan, to liberalise the sector as he looks to boost growth.

As part of what is the biggest investment in Malaysia by a British company in the past year years, Weir Group will build a new foundry, machine shop and rubber processing plant south of Kuala Lumpur.

The foundry and machine shop will expand Weir's production of high-quality castings, while the rubber line will increase the group's ability to meet growing demand for Linatex, a 95 percent natural rubber product used in the mining industry. These operations will see the company’s workforce in the country more than double to 1,000.

The order for 31 of the aircraft, valued at nearly $9.5 billion at list price, marks the aircraft manufacturer’s first deal with the Japanese carrier. According to the deal, JAL also has an option to purchase an additional 25 planes.

"This is Airbus' largest order for the A350 so far this year and is the largest ever order we have received from a Japanese airline," said Fabrice Bregier, chief executive of Airbus. "I must say that achieving this breakthrough order and entering a traditional competitor market was one of my personal goals."

The $2 billion project will see Russia’s state-run nuclear energy corporation Rosatom build, operate and provide fuel for the plant, as well as process its spent fuel in Russia. In return Russia is helping fund the project to the tune of $500 million of Russian Credit. The reactors at Rooppur in Pabna district, 120 kilometres north of Dhaka, are expected to operate for 60 years with options to extend by another 20 years.

Once considered home to one of the largest gold deposits in India, the Kolar mines were nationalised in 1956 and 1972, before operations were handed to BGML. Mounting losses and falling revenues however led to BGML’s closure in 2001. In June of this year, India’s Supreme Court approved the government’s plan to issue a global tender for BGML’s assets, so that the Kolar gold mines could be restated.