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Silk Road Economic Belt climbs up President Xi Jinping’s agenda

Silk Road Economic Belt: China’s President Xi Jinping today pledged to accelerate plans to resurrect the old Silk Road trading route and to create both a Silk Road Economic Belt and a Maritime Silk Road both of which he claimed would help strengthen ties between China, the rest of Asia and Europe. The founding of the Asian Investment Infrastructure Bank (announced at a meeting of 21 Asian countries in Beijing last month and due to start operating next year) was an important step towards the realisation of the goal, he said. Newskaz Read More»

Navoiazot gets $300m Eximbank loan for new PVC plant

Navoiazot: China’s Eximbank has agreed to provide the Government of Uzbekistan with a $300m loan for the construction of a new PVC production plant at its Navoiazot chemical complex. The plant, which will have an annual production capacity 100,000 tonnes of PVC, 75,000 tonnes of caustic soda and 300,000 tonnes of methanol will be constructed by another Chinese concern, CAMC Engineering, on a turnkey basis AKIPress.   Read More»

Statoil sells Shah Deniz stake to Malaysia’s Petronas

Statoil sells Shah Deniz stake: Norway’s Statoil has sold its 15.5% stake in the Azeri Shah Deniz oilfield project and its 12.4% in the South Caucasus Pipeline to the Malaysian oil and gas company PETRONAS. The transactions have been valued at $2.25 billion. TREND     Read More»

Dongfeng considers car assembly in Alabuga SEZ

Dongfeng Motor Corporation, one of China’s largest automotive companies, is looking at the possibility of assembling its cars in Tatarstan’s Alabuga Special Economic Zone, already home to the Ford Sollers production line. If it goes ahead, the project would require an investment of around $500m and would have an annual production capacity of between 120,000 and 170,00 units. Kommersant

 

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Suifenhe investment in Russia on the rise

Suifenhe, the southeastern Chinese city on Russia’s border, is predicting that its investment in the Russian economy will rise by 8% in 2014 to reach $200 million. Major investment projects include a flour mill, timber and agriculture plants and a $97.93m furniture factory. ITAR-TASS  Read More»

Amur cableway construction set to start next year

Amur cableway: Work on the cableway connecting Blagoveshchensk and Heihe across the Amur River is due to start in September 2015, the Chinese city’s Mayor, Zhang Enliang said yesterday. Work will progress in tandem with a bridge across the same river and will be the only cableway in the world linking two countries together. ITAR-TASS
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Chinese food exports set to meet Russian demand

Chinese food exports: Beijing is ready to meet Moscow’s demand for fruits, vegetables and pickled products, according to a statement attributed to the Director of Shandong Province’s Department of Commerce Zhang Qingwei. Chinese entrepreneurs were interested in purchasing Russian grain, rapeseed and honey, he said, while the province’s agricultural sector was ready to supply Russia with carrots, ginger, garlic, pepper, peas, pumpkins, tomatoes, cucumbers and broccoli, as well as peaches, pears, grapefruits and watermelons. ITAR-TASS   Read More»

Zenith and Samsung expand Uzbek TV production

Zenith and Samsung expand Uzbek TV production: Zenith Electronics and South Korea’s Samsung Electronics have joined force to increase production of Samsung-branded LED TVs in Uzbekistan. Samsung is reported to have invested over $2.9m in the project which will see annual production capacity reach 75,000 TVs by the end of 2017. AKIPress  
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Russian gas exports to Asia set to double in 15 years

Russian gas exports to Asia are likely to almost double over the next 15 years, according to Gazprom’s Deputy Chairman Alexander Medvedev. Speaking at an oil and gas conference that is being held on Sakhalin Island in Russia’s Far East, he predicted that export volumes to the Asia-Pacific region would increase from 270bn m³ in 2013 to 530bn m³ in 2028. ITAR-TASS  Read More»

Russian Asian realignment to continue – Medvedev

Russian Asian realignment: Russia will continue reorienting itself toward Asia, its Prime Minister told delegates at last week’s Sochi International Investment Forum. He said that the Duma will shortly debate a bill proposing the creation of 14 Special Economic Zones in Siberia and the Far East, which will be aimed at attracting and that collaboration with Russia’s Asian neighbours in the area of large infrastructure projects such as the Trans-Siberian and the Baikal-Amur railways would also increase. rbth  Read More»

Uzbekistan wind farm project scheduled for 2016

Uzbekistan wind farm: Uzbekenerg, Uzbekistan’s state-run energy company, has signed an MoU with China’s Xian Electric to undertake a feasibility study about the possibility of building a $200m wind farm by 2021. Work on the farm, which could potentially save up to 68m3 of natural gas annually, is scheduled to start next year. AKIPress  Read More»

China-Kazakhstan rail project moves up agenda

China-Kazakhstan rail project: China is interested in building a railway line up to the Bakhty border crossing in Kazakhstan. The railway would be used to develop industry and tourism in the region. AKIPress   Read More»

Russian aircraft production to grow to combat sanctions

Russian aircraft production: Russia’s Prime Minister Dmitry Medvedev today said that Russia must boost its domestic aircraft production following Western sanctions over the conflict in Ukraine. As well planning to double production of the Sukhoi Superjet 100 next year, Deputy Prime Minister Dmitry Rogozin also revealed that the government was considering the possibility of developing a new long-range airliner with China. St Petersburg Times   Read More»

Tajik-Chinese bilateral trade gets $3bn boost

Tajik-Chinese bilateral trade: Tajikistan and China have agreed to boost bilateral trade up to $3 billion after talks in Dushanbe on Saturday. The talks covered the possibility of the two countries working together to develop mining and agribusiness complexes, textile parks and building materials production facilities as Tajikistan seeks to make the transition from an exporter of raw materials to a country with secondary industry base. AKIPress    Read More»

Beeline Uzbekistan launches 4G service for Tashkent

Beeline Uzbekistan, ultimately owned by Russia’s VimpelCom, has launched a 4G LTE network in Tashkent. China’s Huawei Technologies supplied the equipment for the 4G network which will be expanded across the capital next year and then across the country. Trend

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Vietnam buys Sukhoi Superjets

Vietnam buys Sukhoi Superjets: Russia is to supply Vietnam Airlines and VietJet Air with Sukhoi Superjets, its Deputy Minister of Industry and Trade Viktor Evtukhov confirmed this week. The two countries have also agreed to begin a regular service between Vladivostok and Vietnam. rbc   Read More»

Rostec and Sinomach set up $10bn infrastructure JV

Rostec and Sinomach, China’s largest civil engineering company, have agreed to invest $10 bn in a venture specialising in infrastructure projects. According to Rostec CEO Sergei Chemezov, the collaboration will pave the way for the creation of a “global technological partnership” that will concentrate on complex projects in Russia, Africa and South America. The Moscow Times
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Rostec and Shenhua agree on coal and power projects

Rostec and Shenhua have agreed to invest $10bn in a series of electric power generation and coal mining projects. Work is now being scheduled to begin on the joint development of coal deposits in the Amur region and the construction of the Port of Faith coal sea terminal in Primorye, while Rostec is looking at the possibility of constructing the generating capacity and high voltage transmission lines to export electricity to China. Lenta

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Vankorneft oil fields offered to Chinese

Vankorneft oil fields: With the blessing of the Kremlin, Russia’s state-owned oil giant Rosneft has offered China a direct equity stake in the Vankor oilfield cluster in Siberia. Its reserves are estimated at  500m tons of oil and 182bnof gas. bfm

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Russia and Myanmar agree to treble trade

Russia and Myanmar have agreed to set up an intergovernmental commission on trade and economic cooperation, Russia’s Minister of Economic Development Alexei Ulyukayev said this week. He described Myanmar as a prospective trading partner and offered to treble the volume of trade between the two countries from $114m to $500m a year. Lenta   Read More»