Asian Activities Report for December 22, 2011: Sumitomo Corporation (TYO:8053) Win Contract for a Submarine Power Cable Project in Taiwan

Sydney, Dec 22, 2011 AEST (ABN Newswire) - Sumitomo Corporation (TYO:8053) and J-Power Systems Corporation ("JPS") have been awarded a joint contract worth 31 billion yen for a submarine power cable project in Taiwan. The project is one of the largest of its kind in the world, with cables stretching over 350 kilometres connecting Taiwan and Penghu Island. JPS will provide cables and associated equipments, while Sumitomo Corporation will work with JPS to install the cables.

Huaneng Power International, Inc. (HKG:0902) (SHA:600011) (NYSE:HNP) has received government approvals for its Huaneng Chongqing Liang Jiang Gas-fired Combined Cooling-Heating-Power Project. The Project will build five 300 megawatt combined cycle gas turbine cogeneration units. The total investment for the Project is estimated at 6.739 billion RMB , of which 20% is from the Company's internal funds, while the remaining 80% is funded by bank loans.

Yaskawa Electric Corporation (TYO:6506) has decided to establish a robot manufacturing subsidiary in Jiangsu Province, China, to expand the company's current robot production capacity. The new subsidiary will engage in the production, sales and after-sales service of industrial robots, to meet the growing demand in the industrial robot market. Production is expected to commence in March 2013.

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