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Business 2004 P9



VA Tech T&D sells subsidiary Reyrolle Pacific based in New Zealand
Following its strategy of focussing on core businesses, VA Tech Transmission & Distribution announces the sale of the switchgear manufacturer Reyrolle Pacific, a hundred per cent subsidiary of T&D, to Transformer Winding Services.

Welsh generator firm secures backing
Pontypool-based manufacturing company Maddon Generators has secured a substantial round of equity investment arranged by xénos, the business angel network of Finance Wales, in a deal that will enable the firm to develop its range of mobile generators that, it claims, are markedly quieter than other known machines on the market.

Two bids accepted for Algerian power station
Three international firms tendered Monday in Algiers for the implementation and exploitation of a power station in Hadjret Enouss, situated in Tipaza province. The companies were SNC Lavalin a Canadian firm, German Siemens and French Alstom. According to press reports, the tenders submitted by SNC Lavalin and Siemens were declared acceptable whereas Alstom has been rejected.

El Paso Merchant Energy closes sale of two power plants
El Paso Merchant Energy, a business unit of El Paso Corporation, has closed the sale of two domestic power generation facilities to Northern Star Generation, LLC for approximately $97.4m. The two plants in Bartow, Florida have combined capacity of 224 MW.

S & P warns of possible EDF rating reduction
Standard & Poor's Ratings Services said Monday that a downward adjustment of its ratings on France-based Electricité de France (EDF; AA-/Negative/A-1+), Europe's largest electric utility, is not excluded in the short-to-medium term.

Ex-Im bank finances US gas turbine generator sale to Turkey
The Export-Import Bank of the United States (Ex-Im Bank) has approved a $60m loan guarantee to support the export by GE Packaged Power Inc., Houston, Tex., and other U.S. suppliers of three gas turbines to build a 154 MW combined cycle power plant in Kayseri, Turkey.

Pakistan seeks $2bn funding for water, power projects
Pakistan will seek $1bn each from the Asian Development Bank and World Bank for water and power projects after reaching agreement on the projects. These projects consist of irrigation system rehabilitation including the lining of water courses, canals and on farm water management projects.

Honeywell to acquire Tata group stake in joint venture
In a multi-million-dollar deal, Honeywell Asia Pacific Inc is to acquire Tata group's 40.62 per cent stake in their joint venture Tata Honeywell Ltd, a process management and control systems provider, for Rs 350 per share.

E.ON and Gazprom deepen business relationship
E.ON AG and OAO Gazprom have signed a Memorandum of Understanding (MoU), in which they agree to further deepen their successful business relationship in the field of strategic projects.

JBIC to lend $230m to power plant operator in Bulgaria
The Japan Bank for International Cooperation (JBIC) this week will ink a deal to provide a 25.1bn yen ($230.2m) loan to the operator of Bulgaria's largest thermal power plant.

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