Page 8 - Sphere No.15 (Nov 2005)

SEAROSE IN BLOOM

Husky Energy

Inc

’s

SeaRose FPSO (floating

production, storage and

offloading vessel) has arrived

at the White Rose oil field. The

vessel will now be connected

to a deep sea production system

and then undergo approximately

three months of offshore hook-up

and commissioning in preparation for

receiving its first oil. Husky Energy owns

72.5 per cent of the White Rose project.

Discovered in 1984, the White Rose offshore oil field is

located in the Jeanne d’Arc Basin 350 kilometres east of St

John’s, Newfoundland and Labrador, Canada.

E

HWL LAUNCHES

KNOWLEDGE QUEST

PROGRAMME FOR

STUDENTS

Hutchison Whampoa Limited

has

launched a Knowledge Quest programme, inviting secondary

school students to visit its operations in order to increase

their general knowledge, widen their perspective and

develop a better understanding of the modern world.

Students have taken guided tours to see the daily operations

of business activities such as container handling, hotel

housekeeping, centralised fresh food distribution and

the power generation process.

C

Let’s Rock in Sweden

3

is really rocking

the Swedish mobile market,

launching a new combined

flagship store and espresso

coffee house at

Stockholm’s most

upmarket

location,

Stureplan. To mark

the occasion, heavy metal

band Crashdiet – also seen in 3’s

TV advertising campaign in Sweden – performed for their

fans and some pleasantly surprised passers by.

T

CKI Turns Up

the Power in Zhuhai

Cheung Kong Infrastructure (CKI)

is investing in the expansion of the Zhuhai

Power Plant to help make it one of the largest

coal-fired thermal power plants in Mainland

China. CKI and the Guangdong Yudean Group

have pledged a joint investment of RMB6

billion (about USD742 million) for Units Three

and Four of Phase One of the Zhuhai Power Plant. The two new units will have an installed

capacity of 600MW each and are expected to commence commercial operation in phases

during the second half of 2006, with an annual generating capacity of approximately seven

billion KWh. The project will include the installation of an SO2 desulphurisation plant to

meet the environmental regulations in Guangdong and the PRC. The new extension will

help the Zhuhai Power Plant contribute to the stability of the electricity networks in

Guangdong and Macau, and will play a pivotal role in promoting economic development

in the Pearl River Delta region.

Strategic

Alliance

Makes HIT Stronger

Hutchison Whampoa Limited has sold 20 per cent

and 10 per cent effective equity in

Hongkong International Terminals

(HIT)

and

COSCO-HIT

respectively through a subsidiary to PortCapital

Limited, an investment holding company backed by Singapore’s PSA

International, for USD925 million. Commenting on the transaction,

John Meredith, Group Managing Director of Hutchison Port Holdings

Limited, said: “We are confident about Hong Kong’s container termi-

nal business. The strategic alliance will make HIT and COSCO-HIT even

stronger players in this highly

competitive market of container

terminal operations.”

P

C A N A D A

C H I N A

E

S

PHERE

6

H O N G K O N G

Partner Profits

Partner

Communications Company

Limited

, a leading Israeli mobile

telecommunications operator

and subsidiary of Hutchison

Telecom, increased its operating

profit by 5.3 per cent in the

second quarter of 2005 from

the same period last year.

T

I S R A E L

S W E D E N