Solvay, CDC Climat, Marubeni form energy efficiency JV
LONDON (Reuters) - Solvay Energy Services, CDC Climat and Japanese trading house Marubeni Corporation (8002.T) have formed a joint venture to finance an energy efficiency project at Solvay's (SOLB.BR) rare earth processing plant in France, the companies said.
The financial details of the deal were not disclosed.
The project involves revamping the gas turbine at the plant in La Rochelle and replacing the fuel oil boiler with a more efficient heat recovery steam generator which will reduce energy consumption and carbon dioxide emissions, the firms said in a statement.
The companies intend to undertake larger-scale projects to reduce energy use and emissions at Solvay plants and other facilities in Europe, they said.
Solvay Energy Services is a subsidiary of Belgian chemicals and plastics company Solvay SA, while CDC Climat CDCEC.UL is a subsidiary of French public investment group Caisse des Depots et Consignations.
(Reporting by Nina Chestney; Editing by Mark Potter)
LONDON - Global equities headed for their biggest two-week drop since June and the dollar hit 5-year highs against the yen on Friday amid concern the U.S. Federal Reserve could start scaling back its stimulus as early as next week.
WASHINGTON - U.S. small business sentiment bounced back from a seven-month low in November, with owners setting their sights on creating more jobs and expanding operations.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.