Orkla metal unit in $70m JV with Chinalco

Orkla's aluminum extrusion unit Sapa said it had formed a joint venture with Aluminum Corp of China Ltd (Chinalco) to build a plant to serve China's high-speed train industry.

The two partners will together invest $70 million (48 million euros) in the 50-50 joint venture.

"The JV will build a state-of-the-art fully integrated aluminum extrusion and fabrication facility in Chongqing in Southwest China," Norwegian conglomerate Orkla said in a statement.

"In addition it will establish R&D facilities to support the development of the rolling stock companies in China."

POWER

Longyuan places order with Vestas for turbines

The world's largest wind turbine maker, Vestas, said it had signed its first order in 2011 with Longyuan, China's largest wind farm developer, for selling the latter 24 new turbines, with a combined installed capacity of 48 mW.

The 24 units, all of which are of the V80-2.0mW wind turbine type, will be installed in Zhongmen, Putian city of East China's Fujian province, said the Danish wind turbine maker.

Wind turbines made by Vestas have been installed in 13 of the provinces, municipalities and autonomous regions in China, with the installed capacity totaling 3,000 mW.

IBC Solar opens Beijing office

German photovoltaics specialist IBC Solar, the world's biggest solutions provider for solar-generated power by sales revenue and turnover, made its entry in the Chinese market by officially establishing an office in Beijing on April 11.

"Although China has been a leading country in the manufacturing of solar cells and panels for power generation in the world, the domestic usage of solar power has just started," said Udo Moehrstedt, founder and CEO of IBC Solar.

"We hope to provide our leading products and services to China, a country that generally relies on coal resources for traditional thermal power generation but that now attaches great importance to alternative energy."

AUTO

Mercedes China car sales to rise over 20%

Sales of Mercedes-Benz cars in China will likely rise more than 20 percent year on year in 2011, outpacing the overall market, a senior Daimler AG executive said.

In the first three months, Daimler AG sold 43,990 Mercedes-Benz cars in China, up 86 percent from a year earlier, said Ulrich Walker, chairman and chief executive for Daimler Northeast Asia.

That significantly outpaced a 9.1 percent gain for the country's overall passenger car market, which has lost some steam after the government stripped policy incentives for small and cheaper vehicles at the end of 2010.

The more than 20 percent growth estimate for Mercedes-Benz was a "conservative" target, he said.

Chemical

BASF starts building plant in Southwest

World-leading chemical maker BASF SE officially started on April 11 the construction of an environmentally safe chemical plant in the ecologically fragile Three Gorges Dam area in Southwest China.

With $1.2 billion (827 million euros) coming from BASF SE, the project is expected to cost $5.3 billion - the largest investment in a petroleum and gas chemical project of any German company in central and western China.

With the State-owned Chongqing Chemical and Pharmaceutical Holding (Group) Company as its co-investor, the project is expected to realize an annual production value of 50 billion yuan (5.27 billion euros).

Its product MDI, a core PU raw material, is widely used in industrial production, including auto manufacturing and heat insulators for home appliances and shipping containers.

China Daily-Agencies