VW poised for stake
\nin Proton: Report<\/p>\n
FRANKFURT: German automotive concern Volkswagen is now poised for
\na possible buy-in at the Malaysian car group Proton in the wake
\nof the pullout by Mitsubishi Corp., the daily Frankfurter
\nAllgemeine Zeitung (FAZ) reported on Thursday.<\/p>\n
The paper noted that VW and Proton Holdings Bhd agreed in
\nOctober 2004 to cooperate more closely.<\/p>\n
In the meantime, VW inspectors have carried out a quality
\nanalysis of Proton's components suppliers, determining that 49
\nout of 179 suppliers do not meet international standards.<\/p>\n
The FAZ said that this help by VW in itself was new for
\nProton, for in the past the Mitsubishi company had not provided
\nthe Malaysian company with any high-tech support.<\/p>\n
The Mitsubishi group at one point had held over 15.8 percent
\nof Proton. But in the spring of 2004, Mitsubishi Motor Corp. sold
\nits 7.93 percent stake, and then at the end of the year trading
\ncompany Mitsubishi Corp. sold its 7.93 percent holding.-- DPA<\/p>\n
;AFP;
\nANPAf..r..
\nbrief-BP-contract
\nRI Likely To Extend BP Contracts On Gas Blocks
\nJP\/14\/BP<\/p>\n
RI likely to extend
\nBP contracts<\/p>\n
JAKARTA: The Indonesian government will likely agree to extend
\ncontracts awarded to BP Plc (BP) to operate three gas blocks in
\nWest Papua until 2035, a government official said on Thursday.<\/p>\n
Iin Arifin Takhyan, director general of oil and gas at the
\nMinistry of Mines and Energy, said the two sides were expected to
\nsign an agreement in the near future.<\/p>\n
BP has been asking the government to extend the contracts for
\nthe Wiriagar block, which will expire in 2023, the Muturi block,
\nwhich will expire in 2027, and the Berau block, which will expire
\nin 2017.<\/p>\n
The three blocks will supply gas to the nearby Tangguh natural
\ngas liquefaction facility that BP will develop with other
\npartners.<\/p>\n
The extension is to secure the gas supply for Tangguh. BP has
\nsigned contracts to sell LNG from Tangguh to offshore buyers
\nuntil 2035. -- Dow Jones<\/p>\n
;AFP;
\nANPAf..r..
\nBrief-Indonesia-steel
\nIndonesia's Krakatau Steel to increase hot rolled steel output
\nJP\/14\/Brief<\/p>\n
Krakatau Steel to
\nup steel output<\/p>\n
JAKARTA: Indonesia's state-owned Krakatau Steel plans to increase
\nits hot rolled coil steel plate production by one million tonnes
\na year by building new production facilities worth up to US$400
\nmillion, a report said on Thursday.<\/p>\n
\"The construction of the new plant is to anticipate increases
\nin demand expected to reach 4.2 million tonnes in 2013,\" Krakatau
\nSteel spokesman Alfauzi Salam told the Sinar Harapan evening
\nnewspaper.<\/p>\n
Salam, who could not be immediately reached on Thursday, told
\nthe newspaper that the new plant would have an annual production
\ncapacity of about one million tonnes and would cost between $300
\nand $400 million to build.<\/p>\n
Krakatau Steel currently produces 2.4 million tonnes of hot
\nrolled coil and Salam said that he expected the new plant to
\nbegin producing in 2008 with construction expected to start in
\n2006.<\/p>\n
He said that the new plant would be paid for out of earnings
\nand asset sales, along with loans.-- AFP<\/p>",
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