New 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…)reuters Read More»
Following 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.
The 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.
Launched 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.”
FEPCO: 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…)sputniknews Read More»
Deutsche 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…)
Iranian 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.
The new company (more…)
UF6 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…)Times of Central Asia Read More»
Iran’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…)iran-bn Read More»
Islamic 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.
One 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…)
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…)
The 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.
He 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.
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.”
A 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…)Times of Central Asia Read More»
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.uzdaily Read More»
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.