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French industrial giant looks to Asia as key growth driver
Singapore, Aug 29: The Asia-Pacific region will be a key growth market for French industrial giant Alstom as it re-focuses on its power and rail transport businesses following a massive government bailout, company officials said today.
Singapore, Aug 29: The Asia-Pacific region will be a key growth market for French industrial giant Alstom as it re-focuses on its power and rail transport businesses
following a massive government bailout, company officials said
today.
Currently, the region accounts for 15 per cent of Alstom's global sales, behind Europe and North America, said chairman and chief executive Patrick Kron.
The region's share of Alstom's global operations should increase in the next several years as Asia's projected high economic growth drives demand for more transport links and energy to power emerging industries, Kron said. He declined to give firm estimates.
"Asia for US is a key geographical area, it's a key market," Kron said at a news briefing in Singapore, where he attended the inauguration of a state-of-the-art driverless underground train system built by the company.
"We believe that we have strong prospects for Asia and these prospects, we expect to turn them into contracts." Between the year 2000 and 2010, China's economy is projected to grow at an average 5.7 per cent, India by 5.0 per cent and Southeast Asia by 4.5 per cent, according to Alstom figures.
By 2020, Asia should account for 50 per cent of the world's electricity consumption, up from 28 per cent in 2001.
Growing environmental concerns, which will force many Asian countries to upgrade or change existing power generators to comply with international pollution standards, should also mean more business opportunities. Bureau Report
The region's share of Alstom's global operations should increase in the next several years as Asia's projected high economic growth drives demand for more transport links and energy to power emerging industries, Kron said. He declined to give firm estimates.
"Asia for US is a key geographical area, it's a key market," Kron said at a news briefing in Singapore, where he attended the inauguration of a state-of-the-art driverless underground train system built by the company.
"We believe that we have strong prospects for Asia and these prospects, we expect to turn them into contracts." Between the year 2000 and 2010, China's economy is projected to grow at an average 5.7 per cent, India by 5.0 per cent and Southeast Asia by 4.5 per cent, according to Alstom figures.
By 2020, Asia should account for 50 per cent of the world's electricity consumption, up from 28 per cent in 2001.
Growing environmental concerns, which will force many Asian countries to upgrade or change existing power generators to comply with international pollution standards, should also mean more business opportunities. Bureau Report