Samsung pledges to quit coal construction, but not before building Vung Ang 2 plant

first_imgSamsung pledges to quit coal construction, but not before building Vung Ang 2 plant FacebookTwitterLinkedInEmailPrint分享Bloomberg:Samsung C&T Corp. will finish two more coal projects before exiting the sector.Construction of the two ventures, the Gangneung facility in South Korea and the Vung Ang 2 project in Vietnam, are scheduled to be completed in 2023 and 2024, respectively. The pledge to exit the coal industry is “unprecedented” for a non-financial firm in South Korea, the company said in a statement.The de-facto holding company of the Samsung empire has faced growing criticism over its involvement in coal amid mounting global pressure to halt use of the dirtiest fossil fuel. Activist climate investors expressed concern Samsung C&T remained committed to the two projects.Global investors are increasingly voicing concerns over the risks associated with South Korea’s overseas coal financing as the state-owned Korea Electric Power Corp., known as Kepco, continues to approve plans to invest in new projects. BlackRock Inc., the world’s biggest asset manager with a stake in the utility, urged the company to provide clear strategic rationale for its investment in new plants in Vietnam and Indonesia.Kepco’s board of directors approved a $200 million investment in the Vung Ang 2 project earlier this month. A joint venture between Samsung C&T and Doosan Heavy Industries & Construction Co. will be in charge of engineering, procurement and construction for the project, a Kepco spokesman said Oct. 6.Samsung C&T said its trading arm will also gradually exit from all coal-related businesses once its existing contracts terminate, while seeking to expand its business into LNG and renewables. The company will completely withdraw from the Gangneung project after selling all of its 29% stake, which it can do it three years after commercial operations begin in end-2023.[Heesu Lee]More: Samsung construction arm to ditch coal after 2 more projectslast_img read more

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Jack L. Bryan, 81

first_imgJack L. Bryan, 81, of Batesville, Indiana, passed away peacefully surrounded by members of his family in Las Vegas, Nevada on Thursday, March 30th, 2017.Jack was born on the family farm in Chester, West Virginia on September 1, 1935. He was the second son of the late Joseph and Beatrice (Sayre) Bryan.Jack graduated from Chester High School in 1953. He then attended Marshall University where he enjoyed playing football and baseball for the University’s teams. On March 17th, 1956, Jack married Phyllis Balmenti at the Sacred Heart Catholic Church in Chester, West Virginia. Just over a decade later, in 1968, Jack took a position at the Batesville Casket Company, where he moved him, his wife and five children to Batesville, Indiana. He retired from Batesville Casket Company back in 2002 with 34 years of service to the Company.Jack was a giving and kindhearted person. He was also a true friend to all, never too busy to help others. Jack would give anyone the shirt off his back, and to help anyone in a moment’s notice, whenever the need arose. On any given day, you could find Jack in his garage, amongst his friends, enjoying each other’s company. He had a true passion for sports and athletics, which came naturally to him. Jack was an avid sportsman, he enjoyed playing golf and hunting throughout his adult life, sharing this pleasure with his children and grandchildren. He was man of few words and modest actions as he grew older, and was always a man who you could go and talk to.Survivors include Jack’s wife, Phyllis (Balmenti) Bryan and five children: Michael Bryan of Batesville, Indiana, Michelle (Manuel) Linhares of Las Vegas, Nevada, Daniel (Amy) Bryan of Batesville, Indiana, Christopher Bryan of Batesville, Indiana, and, Stephen (Danielle) Bryan of Whitewright, Texas. Jack is also survived by his nephew Brian (Kathy) Nesselrode of Jacksonville, Florida.Other survivors include Jack’s fourteen grandchildren, Marc Linhares, Daniel (Katharine) Bryan, Michael Bryan, Dominic Bryan, Anthony Bryan, Emily Bryan, Dustin Powell, Jordon Bryan, and Holly Bryan. Also, survived by Jack, are his step-grandchildren, Sarah Linhares, Dylan, Rachel, Heather, and Caleb Kennemur.In addition to his parents, Jack was preceded in death by siblings, Richard Bryan, Janet (Bryan) Nesselrode, and Joseph Bryan.Jack was loved by his family and friends, and will be dearly missed. Memorial services will be announced at a later date.last_img read more

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