Econcern to lead $1b China wind farm investment

Clean energy company Econcern will partner with China National Offshore Oil Corp and Sinohydro to invest 863 million euros ($1.09 billion) to build four wind farms in China, the companies said yesterday.

Construction of the wind farms, which will generate around 720 megawatts (MW) of renewable energy, will begin in 2009.

HK dollar edges lower, interbank rates firm

The Hong Kong dollar edged lower against the US dollar yesterday, while the middle- to longer-dated interbank rates remained firm on year-end funding stress with the one-month HIBOR staying at one-month high. The local currency fell to a session low of 7.7516 against the US dollar before trading at 7.7512/13 at 0905 GMT, slightly softer than late Monday trade in Asia.

CIC picks Shanghai Electric for Botswana plant

CIC Energy said it had selected Shanghai Electric Group Co Ltd as the engineering and building contractor for the first power station to be built at the Mmamabula coal field in Botswana.

The decision paves the way for CIC to finalize agreements with future power buyers, including Botswana's national power utility and South Africa's state-owned utility Eskom, which is grappling with power shortages. The planned capacity for the power station is around 1,320 MW, with equipment and infrastructure costs for both the power station and the coal mine estimated at $3 billion.

Fairwood to expand , targeting middle class

Hong Kong fast-food chain operator Fairwood Holdings will step up expansion as it seeks to lure more of the city's middle class, who are shifting to cheaper restaurants due to the global economic crisis, a senior executive said.

It plans to open five to six new shops in Hong Kong in the second half of the fiscal year ending March 2009. It also plans to expand its Hong Kong-style cafe business next year as it looks for it to become the firm's new growth engine.

Reuters

(HK Edition 12/03/2008 page2)