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Belgians to build Tabriz power plant as Iran looks for $30bn for energy sector

TabrizTabriz power plant: A Belgian company has won the contract to build a $700m, 600MW combined cycle power plant near the city of Tabriz in northwest of Iran, the deputy head of the Centre for Investment Services of East Azerbaijan Province Reza Hosseini announced yesterday. The F class power plant will be built (more…)

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Rio Tinto awards Jacobs Engineering $5.3bn Oyu Tolgoi mining contract

Oyu Tolgoi underground copper and gold mineRio Tinto has awarded Jacobs Engineering the main contract to build the $5.3bn Oyu Tolgoi underground copper and gold mine in Mongolia, the US-based company announced yesterday. The announcement comes (more…)

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China’s CNTIC to invest €1.7bn in Iranian Mehran petrochemical plant

Signing of Mehran petrochem deal 2 Mehran petrochemical plant: CNTIC – the China National Technical Import & Export Corporation – this week agreed to invest €1.65bn in the construction of Iran’s first petrochemical plant in Mehran, close to the country’s border with Iraq. Once up and running, the plant will be Iran’s first facility capable of producing the petrochemical products required for the manufacture of a range of products including nylon, detergents, paints, aspirin and gasoline additives.
The deal was struck with Iran’s Petrosaman Faragostar whose Managing Director Mohammad Reza Daqiqis said that he expected construction to take 40 months to complete and to generate 3,000 jobs.


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Chinese consortium to build Bangladeshi coal-fired power plant

Bangladesh Prime Minister Sheikh HasinaBangladeshi coal-fired power plant: Bangladesh yesterday signed an engineering, procurement and construction (EPC) contract with a consortium of two Chinese firms for the installation of a $1.56bn coal-fired power plant in the port of Payra, some 240km south of the capital Dhaka. The contract was signed between (more…)

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Petrobas and China’s CDB agree $10bn loan as bonds hit junk status

PetrobasBrazil’s financially pressed state-controlled energy company Petróleo Brasileiro (Petrobas) has secured a $10bn loan from the China Development Bank (CDB) in return for supplying petroleum to Chinese companies, it announced last Friday. Increasingly (more…)

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India set to beat China to $1.6bn Bangladesh power plant project

Power cuts south AsiaBangladesh power plant: Indian’s state-run Bharat Heavy Electricals (BHEL) looks set to secure the contract to build a $1.6bn power plant in Bangladesh, squeezing out China’s Harbin Electric International Company in the latest commercial tussle between Asia’s two dominant powers.
After years of negotiations, (more…)

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Qatargas in $15bn Pakistan LNG deal

LNG tankerPakistan LNG: The Qatar Liquefied Gas Company (Qatargas) yesterday clinched a contract to supply Pakistan with 3.75m tonnes of liquified natural gas (LNG) each year between now and 2031. Under the terms (more…)

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Lukoil signs Khouzestan exploration deal with Tehran

Lukoil has been awarded a licence to explore two potential oilfields in Iran’s Khouzestan provKhouzestanince, a senior official at the National Iranian Oil Company (NIOC) announced last week. The Russian company will consequently be looking for hydrocarbon reserves in Dasht-e-Abadan and the northern section of the Persian Gulf, NIOC’s Director of Exploration Affairs Hormoz Qalavand confirmed. The value (more…)

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Qatargas undercuts Shell to secure $1bn Pakistan LNG contract

QatargasRoyal Dutch Shell Pakistan LNG contract: Royal Dutch Shell looks set to lose its contract to supply Pakistan with LNG worth over $1bn after Qatargas offered to undercut it on price. Both the Gunvor commodities trading group Shell were provisionally awarded contracts (more…)

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India and Russia close to five S-400 anti-aircraft systems deal

S-400 anti aircraft missile systemIndia is close to buying at least five S-400 anti-aircraft systems from Russia for $2.5bn as part of a larger deal believed to be worth around $7bn, unnamed sources in Delhi told Kommersant yesterday. Officials from the two countries are due to meet later in the week where they are also expected to discuss the purchase of two Varshavyanka-class diesel-electric submarines, 48 Mi-17V-5 military transport helicopters, 150 BMP-2/2K armoured vehicles and three Project 11356 frigates. 
India is Russia’s biggest military hardware client and spent $4.7bn last year – 28% of Russia’s total arms exports. 


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Japan on track to build first bullet train for India in $14.6bn deal

Japanese bullet trainsBullet train for India: Japan is this week expected to be formally granted the rights to build India’s first high-speed bullet train linking Mumbai to the Gujarati city of Ahmedabad using its high-speed bullet train technology. The deal is due to be confirmed when Japanese Prime Minister Shinzo Abe visits India on Saturday when he is also (more…)

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Russia agrees to sell Iran S-300 surface-to-air missiles

S-300 anti-aircraft missile system

S-300 anti-aircraft missile system

Vitaly V. Kuzmin / Wikicommons

Russia has signed a contract to supply Iran with sophisticated S-300 surface-to-air missiles following the lifting of international sanctions on Tehran earlier this year. Israel, the US and Saudi Arabia are all opposed to the contract.
Russian officials (more…)

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Egypt eyes up Russia’s Mistral helicopter carriers

Mistral helicopter carrierEgypt may end up buying the two Mistral helicopter carriers that were originally destined for Russia, it was revealed, today after a high-level Egyptian delegation arrived in Paris to negotiate their purchase along with two Gowind corvettes.
According (more…)
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Rosatom to build floating nuclear power plants in Indonesia

Floating nuclear power plantRosatom Overseas has won a contract to build a series of floating nuclear power plants in Indonesia, the company announced this week, after signing an agreement with Indonesia’s National Nuclear Energy Agency in Jakarta.
Russia originally (more…)

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Algeria orders 14 Sukhoi fighter jets

Sukhoi Su 30MKI fighter jet

Sukhoi Su 30MKI fighter jet

Russia and Algeria have signed a contract for the sale of 14 Russian-made Sukhoi fighter jets, Rostec CEO Sergei Chemezov announced last week. The deal was actually signed in the spring, he told journalists at the 2015 Russian Arms Expo in Nizhny Tagil, and the jets are expected to be ready within the next two years.
Although (more…)

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Russia poised to sell S-300 anti-aircraft system to Iran

S-300 anti-aircraft missile system

S-300 anti-aircraft missile system

Vitaly V. Kuzmin / Wikicommons

Russia and Iran will sign an agreement for the delivery of advanced Russian-built S-300 anti-aircraft missile systems “soon,” Russia’s Deputy Foreign Minister Sergei Ryabkov told journalists at the Russian Arms Expo 2015which opened yesterday.
“All (more…)

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Korean Exim bank set to dominate Eastern Economic Forum

Aerial view of VladivostokAround $70bn worth of contracts and MoUs covering 200 projects – many involving South Korea – are set to be signed at the inaugural Eastern Economic Forum that opens in Vladivostok on September 3, Russia’s Minister for the Development of the Russian Far East Alexander Galushka told a press conference last week.
Among the 70 agreements lined up for ratification are 20 in the power sector, six in agriculture, and four in oil and gas, a large number of which will involve Russian enterprises, South Korea’s Ministry of Industry, Trade and Energy and the Export-Import Bank of Korea.Exim bank logo 2
The Russian gas processing and petrochemicals company SIBUR and Gazprom are also expected to announce an investment of RUB800bn to develop a gas field in the Amur Region. 1,500 foreign delegates, many from Japan, Singapore, China, South Korea and Malaysia are due to descend on Vladivostok for the forum.

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UAC picks up new $1.5bn Su-35 contract at MAKS 2015

Sukhoi Su-35

The Sukhoi Su-35 fighter jet


Russia’s United Aircraft Corporation (UAC), expects to sign a $1.5bn deal with the country’s Ministry of Defence for the production and delivery of a further 48 Su-35 multi-role fighter aircraft by the end of the year, its President Yury Slyusa told a press conference at the MAKS 2015 air show outside Moscow this week.
The order (more…)

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Beijing postpones Russian – Chinese gas contract indefinitely

Altai PipelineRussian-Chinese gas contract: China’s state-run CNPC gas giant has indefinitely postponed plans to buy Russian gas from Gazprom that was to be transported via either the Altai or Power of Siberia pipeline in response to the slowdown of China’s economy. With growth in its gas consumption down from 12-13% in 2012-2013 to 2% in the first half of 2015 , China is now looking at cheaper alternatives such as LNG shipments from Australia, according to government sources quoted in Vedomosti.
 CNPC was also known to be unhappy at the high price that Gazprom was quoting for construction of the pipeline and wanted to put the contract out to open tender, an option rejected by the Russian company.
The framework agreement on the supply of so-called “western route” was signed in November 2014 and provided for Russia to supply China with 30bn m³ each year for the next 30 years.


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Russia partners with Ambani to build frigates for Indian navy

Anil Ambani

Anil Ambani

Talwar class frigate

Talwar class frigate

Russia has chosen to partner with Indian business magnate, investor and philanthropist Anil Ambani’s Pipavav Defence company to build frigates for the Indian Navy as part of Prime Minister Narendra Modi’s Made in India initiative, official sources said on Thursday. The project is said to be worth between$3bn and $3.5 bn and will be the biggest ever warship project in India’s private sector.The frigates will be upgraded versions of Talwar-class ships, or the Russian equivalent of the Krivak-III. 
 The announcement comes two days after India’s Vice Admiral P. Murugesan, outlined plans to increase the navy’s fleet from 137 to 198 ships by 2027. “We have to build a certain number of ships in a certain time,” he said, “and we are exploring the possibility of acquiring a number of ships. But these will not be imports – they have to be made in India.” 

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