CGLA News
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March 10, 2010 | The Moscow Times Chinese companies know technology -- and the U.S. political system, too. China's A-Power Energy Generation Systems (APWR) said it will build a previously announced U.S. wind turbine assembly facility in Nevada, a move that U.S. Senate Majority Leader Harry Reid saluted. Last year, A-Power, along with Shenyang Power Group, U.S. Renewable Energy Group and Cielo Wind Power announced plans to build a $1.5 billion, 600-megawatt wind farm in Texas. China's A-Power Generation said it would provide the wind turbines and a Chinese bank said it would provide financing. After Senator Charles Schumer [D-N.Y.] complained that the project would lead to 2,800 jobs in China and 240 in the U.S. , A-Power announced it would build a factory in the U.S. that would employ 1,000. So now Schumer and Reid are placated and in a few years people in Texas will get power. Just so no one misses the historic significance of this announcement, this is a Chinese manufacturer building a factory in the U.S. to supply equipment to a power provider largely funded and managed by Chinese companies. China is opting not to leverage its own low domestic labor costs. Nevada wages may be low, but they aren't as low as the wages offered in China. This is an example of how management, technological ability, financial and marketing savvy have grown in China in recent years. Read Full Article |
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March 10, 2010 | The Moscow Times In 10 days, President Dmitry Medvedev will indicate where the future Russian Silicon Valley will be created, and one of the early favorites is the area near the business school Skolkovo. Among the possibilities for the Center for Research and Development, as it will be called, are Tomsk, Novosibirsk, St. Petersburg, Obninsk, Dubna and an area near the business school along Novorizhskoye Shosse and Leningradskoye Shosse, presidential aide Arkady Dvorkovich said yesterday. Rusnano head Anatoly Chubais will be charged with developing the project, and the president will likely announce the details of the project when he meets with Chubais on March 22, Dvorkovich said. The president will consider several criteria in making the choice: infrastructure development, size of the territory, proximity to educational centers and attractiveness for business, Dvorkovich told Vedomosti. That the land belongs to the federal government would simplify the process, but it is not a decisive criterion. The development of a business plan and the issue of financing will be worked out by a managing company that the president has ordered to be created, Dvorkovich added. The federal budget is ready to spend money on developing nonprofit projects and scientific infrastructure. The other facilities, including social facilities, will be built using co-financing. "Construction may start next year, but probably only in the second half," he said. Read Full Article |
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March 4, 2010 | Wall Street Journal Colombia, Peru and Chile have begun a process of linking their stock exchanges. The aim is creating an integrated market representing about 21% of Latin American stocks by capitalization by the end of 2011. The integration will give companies in the three countries better access to capital and help investors to spread risk, said Amanda Mago, vice-chief financial officer of the Colombian stock exchange, in a presentation in Bogota on Thursday. "The Colombian stock market is very strong in infrastructure and energy stocks, whereas in Peru 55% of the market is mining companies," Mago said. "That's what I mean by diversifying risk. The three markets complement each other." The three exchanges hope to complete the first phase of integration by the end of this year, when brokerages in the three countries will be able to trade in each others' markets via local intermediaries. Under the second phase, planned to be completed by the end of 2011, brokers will be able to trade in all three markets directly. "There is a lot of cross-investment [involving] the three countries," Mago said. Some Colombian brokers believe integration could still be a ways off. "This is a good thing if it works fully, but the politics of each exchange may yet get in the way of a full integration," said Rupert Stebbings, an analyst with Colombia's largest brokerage Interbolsa. Johanna Castro, an analyst with Colombian brokerage Corredores Asociados, said that integration would take place when the three countries have harmonized their regulations. Read Full Article |
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March 8, 2010 | Bloomberg Billionaire Carlos Slim’s construction company is poised to win the biggest of three toll- road contracts in Mexico, beating Empresas ICA SAB, the nation’s largest builder, Credit Suisse Group AG said. Impulsora del Desarrollo y el Empleo en America Latina SAB, the finance arm for Slim’s Carso Infraestructura y Construccion SAB, will probably win a competition to build the Pacific South highway after staying away from more expensive contracts at the end of Mexico’s economic expansion in 2008, according to Pablo Riveroll, a Credit Suisse analyst in Mexico City. The 8.52 billion peso ($673 million) project is the largest of three toll-road deals the government will start auctioning tomorrow. “It’s a typical Slim investment: When everything is quite expensive and the bull market is there, projects are coming out and they just let them go,” Riveroll said in a telephone interview. “Now things are more reasonable and they have the cash.” Slim’s Mexico City-based financing company, known as Ideal, will probably increase sales this year at triple the pace of its competitor, ICA, Riveroll said. Ideal shares climbed 157 percent in the past year, more than double the gain for ICA. Ideal won contracts such as the 3.22 billion-peso offer in October for the Pacific North project, which topped an ICA-led consortium’s bid. Read Full Article |
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March 6, 2010 | Andina Brazilian-backed proposal to build a 2,000-megawatt hydroelectric plant in the Peruvian Amazon has gained momentum in recent weeks as the government of the Andean nation has thrown its weight behind the effort. The Brazilian consortium behind the $4-billion project, Empresa de Generación Eléctrica Amazonas Sur S.A.C. (EGASUR), is expected to present feasibility studies for constructing the hydroelectric plant on the Inambari River to Peru’s Ministry of Mines and Energy early this month. EGASUR is composed of Brazilian construction firm OAS as well as the country’s national electric utility company, Eletrobras, and its subsidiary Furnas. MEM granted the consortium a two-year concession to develop the studies for the project in June 2008. Peruvian President Alan Garcia, after meeting on Feb. 2 with EGASUR representatives, said they were prepared to begin work by the end of the year. Construction on the proposed powerplant is expected to take at least four years. When completed, Inambari would be almost twice the size of Peru’s largest current hydro facility, the 1,008-MW hydroelectric complex on the Mantaro River in the central highlands. The Inambari project marks Peru’s largest hydropower investment. In the past three decades, Peru has invested $6 billion in hydroelectric schemes, and the country’s installed capacity is approximately 6,500 MW. The governments of Peru and Brazil signed a preliminary agreement for the construction of the dam in April 2008. According to the agreement, as much as 75% of the power from the facility initially would be routed eastward to meet the needs of Brazil’s electrical grid. Over time, the power from Inambari would increasingly be rerouted to meet Peru’s electrical demand, with the surplus going to Brazil. The Inambari effort is just one of a half-dozen similar Brazilian-backed projects with a combined total estimated at $16 billion. Read Full Article |
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8th LATAM Leadership Forum
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