Surge in electric-power sales

Article Abstract:

Kansai Electric Power Co. acquired a 7.5% interest in Sanroque Power Corp. in an effort to be involved with a hydraulic plant project in the Philippines. The move to push into other foreign markets was spurred by the growing competition in Japan due to the latest deregulation in the industry, as well as by the encouragement from the government. The project aims to complete construction of a 345,000-kilowatt hydraulic power plant by 2003 on Luzon island, Philippines, for the around $1 billion. Tokyo Electric Power Co., Kansai's competitor, is also seeking for similar projects in Asia as prompted by the same reason why Kansai moved to gain participation in the Philippines. The Japanese government initiative to open the market to competition, which is pushing Japanese power firms to seek other profit sources, hopes to cut the country's electric power rates by 20% to 30% by 2000.

Comment:

Acquires 7.5% interest in Sanroque Power in an effort to be involved with a hydraulic plant project in the Philippines

Acquisitions & mergers, Foreign operations, Philippines, Article, Sanroque Power Corp.

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Surge in electric-power sales: companies push to win more projects in Asia

Article Abstract:

Regulations which mandate a 20% to 30% reduction in Japanese electric power rates by the year 2000 are forcing electric suppliers to look for business in other Asian markets to maintain current earnings. Kansai Electric Power Co. is negotiating a deal with Sanroque Power Corp. of the Philippines to construct a hydraulic power plant. Tokyo Electric Power Co. has made a similar move in its participation in a consortium with Sumitomo Corp. and Electricite de France for the construction of a thermal power plant in Ho Chi Minh City, Vietnam.

Regulation and Administration of Communications, Electric, Gas, and Other Utilities, Electric services, Energy Regulation, Management, Japan, Laws, regulations and rules, Energy industries, Energy industry, Energy law, Tokyo Electric Power Company Inc.

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Daewoo unit sale in doubt

Article Abstract:

Daewoo Corp's plan to sell its shipbuilding unit to an unnamed Japanese concern is not expected to materialize given the overcapacity for shipbuilding capability around the world. The South Korean firm, which made the declaration in Apr 1999, is not expected to make the divestment any time soon as Japanese shipbuilders are undergoing their own restructuring. Japanese sources added that the difference between the two nation's labor force will also be a major factor in any deal.

South Korea, Facilities & equipment, Ship Building and Repairing, Shipbuilding & Repair, Mergers, acquisitions and divestments, Shipbuilding industry, Korea, Daewoo Corp.

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