Australia - Australia Invites Chinese Investment In $6 Billion Iron-Ore Mining Project
Source: The Wall Street Journal, 29 December 2011
Western Australia invited China to invest in a US$6 billion port-and-rail project intended to expand iron-ore mining in the state after Wednesday stripping a Mitsubishi Corp.-led venture of exclusive development rights.
The government wants to unlock the potential of the state's largely untapped Mid West region and transform it into Western Australia's second major iron-ore output hub behind the Pilbara, which accounts for nearly 40% of all seaborne trade in the key steelmaking ingredient.
China - China to Slash Railway Spending
Source: The Wall Street Journal, 24 December 2011
Chinese authorities are cutting spending on railway construction for 2012, the latest signal the world's No. 2 economy is de-emphasizing one of its most expensive programs after a year of problems highlighted by a deadly high-speed collision.
Infrastructure investment – always large in China's economy – became bigger during the country's massive economic-stimulus efforts meant to counter the 2008 global financial crisis. It was especially spurred by railway expansion. But the International Monetary Fund and credit-rating firms increasingly point out how the program piled debts onto books of local governments and banks.
Indonesia - Indonesia's Lion Air to start private jet service
Source: Indonesia Today, 29 December 2011
Indonesian budget carrier Lion Air, which announced the world's biggest-ever commercial aircraft order last month, plans to launch a private jet service by mid-2012, the company said on Thursday. Lion Air is negotiating a deal for four, nine-seater jets with US-based Hawker Beechcraft, which builds special-mission, business and trainer aircraft, Lion Air spokesman Edward Sirait told AFP.
"We will order four airplanes and we hope that two will be delivered between May and June next year. We will start operating a month after that," Sirait said. "The deal will be signed and made official in January." The service will be available to individuals, but will likely serve clients from the private sector, particularly the country's booming mining industry.