China and France signed nuclear, aviation and other contracts yesterday that officials said were worth around US$30 billion, an amount French President Nicolas Sarkozy called unprecedented.
"The total amount of these contracts has never been matched before," Sarkozy told his Chinese counterpart Hu Jintao (
The contracts included an 8 billion euro (US$11.9 billion) deal for the delivery of two third-generation nuclear reactors by French firm Areva, and an agreement worth more than US$17 billion for 160 Airbus planes.
PHOTO: AFP
The total amounts of the deals -- both in industries currently undergoing speedy expansion in China -- were given by Areva CEO Anne Lauvergeon and officials involved in the Airbus talks.
The long-anticipated Areva deal will see the French company deliver two European Pressurized water Reactors (EPRs) to China Guangdong Nuclear Power Corp (CGNPC).
"It's a record. In the history of the civilian nuclear industry, there's never been a deal of this magnitude," Lauvergeon said ahead of the official signing.
Areva and CGNPC also agreed to set up a company that will operate the two EPRs until 2026, the second agreement said.
In a third deal, CGNPC will take over 35 percent in the operations of three African uranium mines which Areva gained control over this summer after acquiring Canadian uranium producer UraMin.
The Airbus purchase includes 110 planes from the short-haul A320 family and 50 A330 wide-body passenger airliners, a source said.
Ten of the 50 A330s will go to China Southern Airlines which made that part of the deal public late last month.
The deal is welcome news to Airbus, which has struggled with a decline in the US dollar and delays with its A400M military transport aircraft and the A380 superjumbo that has wiped billions of euros off its profit.
The Chinese order stands to push Airbus past Boeing in total orders for commercial aircraft.
Boeing said last week it had received 1,047 commercial airplane orders this year, already beating last year's record-setting total of 1,044 orders. Airbus had logged 1,021 commercial jet orders as of the end of last month, the most recent data available on the company's Web site.
Tropical Storm Gaemi strengthened into a typhoon at 2pm yesterday, and could make landfall in Yilan County tomorrow, the Central Weather Administration (CWA) said yesterday. The agency was scheduled to issue a sea warning at 11:30pm yesterday, and could issue a land warning later today. Gaemi was moving north-northwest at 4kph, carrying maximum sustained winds near its center of up to 118.8kph and gusts of 154.8kph. The circumference is forecast to reach eastern Taiwan tomorrow morning, with the center making landfall in Yilan County later that night before departing from the north coast, CWA weather forecaster Kuan Shin-ping (官欣平) said yesterday. Uncertainty remains and
SEA WARNING LIKELY: The storm, named Gaemi, could become a moderate typhoon on Wednesday or Thursday, with the Taipei City Government preparing for flooding A tropical depression east of the Philippines developed into a tropical storm named Gaemi at 2pm yesterday, and was moving toward eastern Taiwan, the Central Weather Administration (CWA) said. Gaemi could begin to affect Taiwan proper on Tuesday, lasting until Friday, and could develop into a moderate typhoon on Wednesday or Thursday, it said. A sea warning for Gaemi could be issued as early as Tuesday morning, it added. Gaemi, the third tropical storm in the Pacific Ocean this typhoon season, is projected to begin moving northwest today, and be closest to Taiwan on Wednesday or Thursday, the agency said. Today, there would likely
DISRUPTIONS: The high-speed rail is to operate as normal, while several airlines either canceled flights or announced early departures or late arrivals Schools and offices in 15 cities and counties are to be closed today due to Typhoon Gaemi, local governments announced last night. The 15 are: Taipei, New Taipei City, Taoyuan, Tainan, Keelung, Hsinchu and Kaohsiung, as well as Yilan, Hualien, Hsinchu, Miaoli, Chiayi, Pingtung, Penghu and Lienchiang counties. People should brace for torrential rainfall brought by the storm, with its center forecast to make landfall on the east coast between tonight and tomorrow morning, the Central Weather Administration (CWA) said. The agency issued a sea warning for the typhoon at 11:30pm on Monday, followed by a land warning at 11:30am yesterday. As of
CASUALTY: A 70-year-old woman was killed by a falling tree in Kaohsiung as the premier warned all government agencies to remain on high alert for the next 24 hours Schools and offices nationwide are to be closed for a second day today as Typhoon Gaemi crosses over the nation, bringing torrential rain and whipping winds. Gaemi was forecast to make landfall late last night. From Tuesday night, its outer band brought substantial rainfall and strong winds to the nation. As of 6:15pm last night, the typhoon’s center was 20km southeast of Hualien County, Central Weather Administration (CWA) data showed. It was moving at 19kph and had a radius of 250km. As of 3pm yesterday, one woman had died, while 58 people were injured, the Central Emergency Operation Center said. The 70-year-old