USD 62.5229

-0.39

EUR 71.2323

-0.37

BRENT 65.08

+0.77

AI-92 42.18

+0.01

AI-95 45.61

-0.01

AI-98 51.08

+0.03

Diesel 46.19

0

814

GE and South Korea Strike Deal

American giant makes multi-million-dollar, eco-friendly commitment to southern peninsula...

American giant General Electric is to start building an 80-megawatt wind power plant in South Korea in 2005. GE is to invest US$100 million to establish a wind power plant complex in the South Korean province of Gangwon, according to provincial officials.

GE officials are to present Gangwon Province authorities a blueprint for the project by the end of next month.

Under the agreement, Gangwon Province will grant GE various benefits, including rent-free land, while GE will hand over 10 per cent of the envisioned complex's stake.