Hong Kong-based OneEnergy, a joint venture between Mitsubishi and CLP, will set up a venture with state-controlled Electricity of Vietnam to build the plant in the southern Vietnamese province of Binh Thuan. The plant, with 2000 megawatts of capacity, will be located in the Vinh Tan Power Complex. Construction work is due to start in late 2010, with operations to begin by 2014.

METALS

Intex to build nickel facility

Norway’s Intex Resources is to build a $2.9bn nickel processing facility in Mindoro province in the Philippines. The facility will have an annual capacity of 80,000 metric tonnes.

The company plans to build a high-pressure acid leach refinery to produce 40,000 tonnes of nickel a year from the raw material limonite. The capital cost for the facility will be $2bn, based on feasibility studies. Additional saprolite processing could bring the capacity up to 80,000 tonnes a year, which would cost the company an additional $900m.

REAL ESTATE

Mixed-use project in Jakarta

Limitless, the global real estate arm of Dubai World, is to develop Rasuna Epicentrum, a $1.7bn, 33-hectare mixed-use project in the Indonesian capital, Jakarta. The project is a joint venture between Limitless and Jakarta-based Bakrieland Development (BLD). Under the agreement, Limitless becomes a 30% shareholder in Bakrie Swasakti Utama, Bumi Daya Makmur and Superwish Perkasa, subsidiaries of BLD. Rasuna Epicentrum will accommodate 40,000 people across more than 1.2 million square metres of office and residential towers. It will also have retail and entertainment facilities. The project, which is to be completed in phases during the next eight years, is open to foreign investors.

WAREHOUSING & STORAGE

India Transhipment port Malaysia-based Pembinaan Redzai and India’s Lanco Group are to develop Vizhinjam International Transhipment Terminal Port in Kerala, India, in a $2bn joint venture. The Kerala state government will hold a 24% stake in a special purpose company set up

for the project. The Vizhinjam transhipment port will have a maximum capacity of 6.5 million 20-foot equivalent units. The port project, which is expected to be developed in four phases, is expected to start commercial operations of its first phase by the end of 2012. The port is expected to draw the substantial container transhipment traffic of India from the various ports in the region.

_{This investment news and data has been provided by fDi Markets, a crossborder investment tracking service that is part of Financial Times Ltd’s fDi Intelligence division www.fdiintelligence.com}

STATS:

ASIA FDI, 2008 (NUMBER OF JOBS)

_{Source: fDi Intelligence}