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India and Russia close to reviving two-year Kamov helicopter JV deal

Kamov Ka 226 helicopterNew Delhi and Moscow are finally getting close to signing off on the $1bn joint venture for the construction of Kamov-226 helicopters after the idea was revived two years after it was first suggested by President Vladimir Putin. 140 of the 200 helicopters in the initial order will be built in India as part of Prime Minister Narendra Modi’s drive (more…)

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Now QIA eyes up Novatek JV

Putin greets Al-Thani watched by Messina (Intesa) and Glasenberg (Glencore) 250117Following its acquisition of a 19.5% stake in Rosneft via its shareholding in the Anglo–Swiss multinational commodity trading and mining company Glencore last month, the Qatar Investment Authority (QIA) is thought to be on the verge investing a further $2bn in the Russian energy sector. After Russian President VladimirPutin and Rosneft CEO Igor Sechin met with QIA chief Abdullah Bin Mohammed Bin Saud Al Thani in Moscow yesterday, speculation was rife that the Qatari sovereign wealth fund could be about to buy Fund Energy’s 49% share in the Yargeo joint venture that it set up with Novatek to develop the Yarudeyskoe oil field on the Yamal peninsula in Northern Siberia.
Igor Yusufov, CEO Fund EnergyThe QIA had made “another deal that will mean additional investment of $2bn”, Al-Thani said before the meeting, although neither side would give further details. However, industry insiders are claiming that Fund Energy, the investment fund set up and run by former Russian energy Minister and Gazprom board director Igor Yusufov, was looking to sell its stake in Yargeo, the JV in charge of the largest oil asset in Novatek’s portfolio.
Yarudeskoye field, Yamal PeninsulaLaunched in December 2015, the field has an annual production capacity of 3.5m tonnes or 9,700 tons of crude oil a day, while the JV also runs a central oil treatment facility, oil and gas gathering systems, a pumping station and gas and crude oil pipelines. After treatment, the oil is transported 350km south to Purpe where it is injected into Transneft’s trunk pipeline system.
In December, Russia’s President Vladimir Putin took to the TV airways to celebrate the news that the commodity trader Glencore and Qatar’s QIA sovereign wealth fund had agreed to buy Moscow’s 19.5% stake in the state-run Rosneft oil giant for a figure Putin put at $11bn, boosted by what he described as “the rising trend in oil prices.”

 
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Rosneft and ChemChina sign up to giant FEPCO petrochemical JV

Igor Sechin (Rosneft) and Ren Jianxin (ChemChina) June 2016FEPCO: China’s chemical giant ChemChina yesterday agreed to enter into a joint venture with Rosneft to help Russia’s largest oil company move ahead with its plans for the construction of a state-of-the-art petrochemical complex as it looks to capitalise on growing industrial and consumer demand in the Asian markets on its doorstep. CEO Igor Sechin and ChemChina’s Ren Jianxin had (more…)

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Lufthansa boss Carsten Spohr on mission to sign JV with Air China

Carsten SpohrDeutsche Lufthansa CEO Carsten Spohr is due to travel to Beijing with German Chancellor Angela Merkel next week in a bid to seal a joint venture deal with AirChina as he seeks to combat the company’s loss of its share of the lucrative long-haul traffic market to rivals based in the Gulf led by Dubai’s Emirates Airways. 
Spohr will meet (more…)

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Norwegian firm close to JV in Iranian petrochemicals sector

Kharg IslandIranian petrochemicals: In what would be one of the first major gas deals to be signed since sanctions were lifted late last year, the Norwegian oil and gas company, Hemla Vantage is reported to be on the verge of entering into a JV with Iran’s Kharg Petrochemical Company (KPC) and of securing a $600m contract to produce and export LNG.
Exmar FLNG BargeThe new company (more…)

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Kazatomprom & ConverDyn in UF6 deal

UF6UF6 deal: Kazakhstan’s national atomic company Kazatomprom and ConverDyn, the US-based provider of natural uranium hexafluoride (UF6) conversion services, have signed a framework agreement that will see them supply UF6 to nuclear power plants around the world. Commonly referred to as “hex” in the nuclear industry, UF6 (more…)

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Chinese electric car maker BYD to invest $2bn in Indian battery plant

BYD Electric CarChinese electric auto maker BYD is considering investing more than $2bn in a battery production plant in India in partnership with BK Modi’s Smart group.
Modi has already set up a facility in Uttar Pradesh for the assembly of electric buses, (more…)

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Rouhani calls for privatisation of Iran’s car industry

Cars in IranIran’s car industry should be completely privatised if it is to become a global competitor, President Hassan Rouhani said earlier this week. The Iranian state currently controls roughly half of the automotive sector which is the country’s second-largest industry in Iran after oil, with 700,000 employees. Since sanctions (more…)

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Rosneft increases stake in Orinoco River Basin JV and offshore projects

 Carabobo oil field VenezuelaRosneft has agreed to to invest a further $500m in the Orinoco River Basin JV it operates with Venezuela’s state-run PDVSA, the Latin American company announced this week. Under the terms of the agreement, Rosneft will increase its stake in the PetroMnagas JV – which is (more…)

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IRISL and PWL in talks over new German Iranian shipping JV

IRISL logoPWL GroupIslamic Republic of Iran Shipping Lines (IRISL) and Germany’s PWL Group have signed an MoU that opens the way to the two enterprises setting up a German Iranian shipping JV that could start operations as early as next month. The memorandum was signed during a recent visit to Hamburg by IRISL Managing Director Mohammad Saeedi. 
Under the terms of the agreement IRISL would gain access to a range of the services required by its commercial shipping fleet and related subsidiaries in a number of ports in northern European countries including Germany, the Netherlands and Belgium.

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UAE’s DP World ready to invest $2bn in Russian container terminals with RDIF

DP WorldOne of the world’s largest port operators , the UAE’s DP World has agreed to set up an 80-20 joint venture with the Russian Direct Investment Fund (RDIF) to invest up to $2bn in Russian ports. At the top of the list of its priorities will be container terminals in Novorossiysk, Taman and Primorsky Krai.
The deal (more…)

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Rostec in technology JV talks with Iran’s industrial sector – Chemezov

Rostec CEO Sergey Chemezov

Rostec CEO Sergey Chemezov

Bloomberg

Russia’s state-run industrial holding company Rostec has been holding talks in Tehran around the possibility of establishing technology-based partnerships with Iran’s industrial sector. Projects under discussion have included Russian-built rotorcraft and aircraft engines, automated control systems and high-tech optical products.
“The Iranian market (more…)

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Free Port of Vladivostok secures first investors as Zarubino gets the OK

SlavyankaThe Free Port of Vladivostok has attracted its first investors since it secured SEZ status this summer, in the form of a $78.2m 182-room five-star hotel at Slavyanka. Located 170km south of Vladivostok, the hotel will be developed by the Sino-Russian Pacific Ocean Investment Company, a joint venture between Russia’s Transit-DB Holding and two Chinese companies – Zhun Gun Sin and the High Way construction firm. The hotels should be ready to open its doors within two years, Russia’s Deputy Prime Minister Yuri Trutnev said today.
Zarubino Port locationHe also confirmed that approval had been given for the joint Sino-Russia $100m expansion of Zarubino port close to the border between the two countries, designed to give shippers better access to and from Northeast Asia.
 

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Azeri food exporter Azersun sets up St Petersburg JV

Food market in St Petersburg

Food market in St Petersburg

Azeri agribusiness and food manufacturer Azersun Holding has set up a joint venture in St Petersburg to streamline its export operations, the president of the city’s business development committee Elgiz Kachayev said last week. 
Ever since Russia introduced a ban on food imports from the EU in retaliation for the sanctions imposed by the West after the intervention in Ukraine, Russian customs officers have been fighting a running battle with importers from countries exempt from the ban trying to pass off embargoed goods as their own. The new JV is intended to circumvent this problem.
“Unfortunately there are some companies that sell their products under Azeri brand names that originate in other countries and regions,” Kachayev said. “We really need direct deliveries from Azerbaijan in order to give the residents of St. Petersburg a chance to buy them directly.”

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KAMAZ and Hawtai join forces for truck and car production

KAMAZ logo 2 Hawtai MotorsRussian truck manufacture KAMAZ and Hawtai Motor Group from China are to set up a joint venture for the manufacture of KAMAZ trucks in China and HAWTAI cars in Russia, it was announced last week. The framework agreement (more…)

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Russia and Canada suspend twin Otter project in Ulyanovsk SEZ

de Havilland DHC-6 Twin Otter SeriesCanada and Russia have suspended plans to jointly develop the de Havilland DHC-6 Twin Otter Series aircraft in the Ulyanovsk SEZ in Russia’s Volga region but have not abandoned it completely, the zone’s CEO Denis Baryshnikov told TASS yesterday. “The market (more…)

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Mongolian uranium mining JV changes hands

Gurvan Saihan basin, Gobi Desert MongoliaMongolian uranium: Canada’s Denison Mines is to sell its stake in the Gurvan Saihan uranium mine in Mongolia’s South Gobi region to the Czech Republic’s Uranium Industry for $20m, it announced last week.
The Gurvan Saihan Joint Venture (GSJV) was created in 1994 by Denison, the Mongolian government and Russia’s Geologorazvedka of Russia to explore and develop uranium deposits, particularly those amenable to in-situ leach extraction. Denison acquired Geologorazvedka’s share in 2011, giving it a total share of 85%. The remaining 15% is held by Mongolian state-owned uranium company MonAtom.
GSJV comprises 167,260 hectares divided into in exploration licences which it now wishes to convert into mining licences. Denison says it has carried out considerable work towards the submission of the mining licence applications and understands that all the necessary materials for the licence applications have been prepared and that the GSJV is eligible to receive the licences. “We are proud of the progress that Denison has made throughout the years in Mongolia, and we believe that Uranium Industry is very well positioned to take these assetsinto development and production,” said its CEO David Cates
The sale comes as Denison focusses its attention on its merger with Fission Uranium which will create Denison Energy Corp, consolidating the two companies’ strategic uranium assets in Canada’s Athabasca Basin, including Fission’s Patterson Lake South project and Denison’s interests in Wheeler River and the McClean Lake uranium mill. 

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Mitsubishi consortium to build fertiliser plant in Uzbekistan

Navoiazot plant UzbekistanA consortium including Japan’s Mitsubishi Heavy Industries and Uzbekistan’s Navoiazot have formed a consortium to build an ammonia and urea plant in the Central Asian country on a turnkey basis, according to the Jahon information agency. Other members of the consortium will include (more…)

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GM Uzbekistan planning new car plant

GM Uzbekistan

GM Uzbekistan plant

uz24

Uzavtosanoat and GM Uzbekistan are planning to build a new factory, a spokesman for the Uzbek company told the state-run Pravda Vostoka newspaper this week. The two companies want to extend facilities at GM Uzbekistan’s existing plant in order to begin production of new models and of spare parts and components.

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Russia and China discuss long-haul passenger aircraft JV

MS 21 medium distance aircraft being developed at Irkutsk

MS-21 medium distance aircraft

UAC

Russia and Chine are considering joining forces to develop a wide-bodied, long-haul passenger aircraft to compete with Boeing and Airbus after a visit by Chinese Vice President to the Irkutsk aircraft factory in Siberia earlier this week. “We visited the Irkutsk aircraft factory and saw the finish line of the Russian MS-21 aircraft” said Russian Deputy Prime Minister Dmitry Rogozin who accompanied Yang. “Based on these technologies, the Russian side is ready to enter into a joint project to create a passenger aircraft with China.”
The medium-distance MS-21 was developed as a replacement for the Soviet-era Tu-154 and Tu-134 planes and will be available in 150-, 180- and 212-seat versions, but could also be modified to create a larger version suitable for long-haul flights. 

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