Category Archives: Uncategorised

CASA-1000 officially launched in Tajik capital

DUSHANBE, MAY 12 2016 (The Conway Bulletin) — Leaders from Tajikistan, Afghanistan and Pakistan flew to Dushanbe to officially launch the start of construction of the CASA- 1000 project, which they hope will give regional trade a boost.

CASA-1000 is the $1.2b World Bank backed project that policy makers hope will transform the economies of Kyrgyzstan and Tajikistan, bolster stability in Afghanistan and boost power supplies in Pakistan.

The plan is simple — to build an electricity supply route from hydro- power stations in Kyrgyzstan and Tajikistan, across Afghanistan and into Pakistan. But it has its detractors. Many analysts have argued that Afghanistan is simply too unstable to host a network of transmission lines and that power generation capacities in Kyrgyzstan and Tajikistan are too temperamental.

Still, in Dushanbe, at the official ceremony to kick off production, the leaders were upbeat.

Tajikistan’s President Emomali Rakhmon, hosted the ceremony. He said that the project would work and that it would have a number of positive side effects.

“This will promote solutions to a number of social, economic and environmental protection problems in all four countries,” he was quoted by media as saying.

The CASA-1000 transmission line will run for 1,222km and should be completed by 2018. It will transmit 1,300 megawatts of electricity, most of it to Pakistan.

Also at the ceremony were Afghan Chief Executive Abdullah Abdullah, Pakistani Prime Minister Nawaz Sharif, Tajik President Emomali Rakhmon, and Kyrgyz Prime Minister Sooronbai Jeenbekov.

Western diplomats conceived the plan a few years ago as part of a new north-south Silk Road, although it has been the various local leaders with finance from the World Bank who have pushed it through.

ENDS

(News report from Issue No. 280, published on May 13 2016)

Editorial: Corruption in Georgia

MAY 13 2016 (The Conway Bulletin) – Georgian PM Giorgi Kvirikashvili said at an anti-corruption conference in London last week that he would “explore” the possibility of setting up a database in Georgia that would mean all companies will need to reveal their secret beneficiary owners.

If Mr Kvirikashvili is serious then now is the time for his to move and fast. He has a real opportunity to chisel a niche for Georgia and to set the pace as a global leader in the fight against corruption.

It’s a theme that is very in-vogue at the moment and also one that should play nicely to audiences in the West that Georgia is trying to impress. These are mainly NATO members and European Union member states. Georgia wants to join both clubs and if Mr Kvirikashvili can fund, organise and manage a meaningful database that improves transparency in business, he should impress his potential suitors.

Mr Kvirikashvili needs to be brave and move from exploring options on setting up a database outlining companies’ real beneficiaries to actually doing it.

ENDS

(Editorial from Issue No. 280, published on May 13 2016)

MP quits Georgian Dream

MAY 10 2016 (The Conway Bulletin) – Armazi Akhvlediani, who had been a rising star of the ruling Georgian Dream coalition, quit the party and accused it of selling out its supporters. Mr Akhvlediani’s resignation will shake the Georgian Dream coalition just five months before an election which is expected to be a hard-fought affair against several opposition parties.

ENDS

(News report from Issue No. 280, published on May 13 2016)

Kazakh PM approves land reform commission

MAY 12 2016 (The Conway Bulletin) – Kazakh PM Karim Massimov approved the members of a newly- established commission that will discuss reform of the land code. Bakhtyzhan Sagintayev, vice PM will head the commission which includes politicians, businessmen and members of civil society. The proposed amendments to the land code triggered weeks of protests throughout Kazakhstan and forced Pres. Nursultan Nazarbayev to delay introducing them.

ENDS

(News report from Issue No. 280, published on May 13 2016)

Uzbekistan plans to sell bank stake

MAY 6 2016 (The Conway Bulletin) – Uzbekistan’s government plans to sell a 15% stake in Asaka Bank to foreign investors for $58m, in a drive to privatise state assets.The bank says it has $2.6b in assets, making it one of the largest banks in the country. Last month, the Uzbek government said it wants to raise $72m from the sale of its stakes in two other banks.

ENDS

(News report from Issue No. 280, published on May 13 2016)

Danish company wins Kazakhstan’s oil contract

MAY 12 2016 (The Conway Bulletin) – Denmark’s oil service company Blue Water Shipping said it had won a contract worth around $350m to build 15 new module carrying vessels for Kazakhstan’s main oil producer, Tengizchevroil. Norway’s VARD and Dubai-registered Topaz Energy & Marine will be part of the Blue Water-led consortium, which will deliver the 15 vessels by the end of 2021.

ENDS

(News report from Issue No. 280, published on May 13 2016)

Kazakhstan announces plans on green energy

MAY 10 2016 (The Conway Bulletin) – In a statement to the UN, Kazakhstan announced plans to generate 50% of its electricity from alternative energy sources by 2050. This is an ambitious target. In 2014, renewable sources accounted for just 0.5% of production. The Kazakh government often lays out grandiose plans for its economic development. Green energy is the dominant theme of EXPO 2017, a major exhibition scheduled for next year in Astana.

ENDS

(News report from Issue No. 280, published on May 13 2016)

Telenor manager quits due to Uzbek corruption incident

MAY 9 2016 (The Conway Bulletin) – Norwegian telecoms company Telenor said that its deputy chair- man Frank Dangeard had stepped down as the company continued to grapple with corruption allegations over VimpelCom’s dealings in Uzbekistan. Telenor owns a 33% stake in Amsterdam-based, Russian telecoms operator VimpelCom. Telenor wants to sell its stake in VimpelCom, valued at around $2b.

ENDS

(News report from Issue No. 280, published on May 13 2016)

Kazakh kommertsbank’s chairman wants all KKB

MAY 6 2016 (The Conway Bulletin) – Kazkommertsbank’s chairman, Kenes Rakishev, said he is ready to buy out minority shareholders offering 211 tenge ($0.63) per share. The deal, which is expected to be concluded by the end of the year, will cost $145m and will give Mr Rakishev full ownership of the bank. Directly and indirectly, Mr Rakishev now owns 71% of Kazkommertsbank.

ENDS

(News report from Issue No. 280, published on May 13 2016)

Armenian to re-consider cement deal

MAY 12 2016 (The Conway Bulletin) – The Armenian government re-submitted a bill to parliament to write- off part of the Hradzan cement plant’s debt, in an attempt to save the company from bankruptcy. Last month, parliament rejected an earlier bill designed to pardon 510m dram ($1.1m) that the company owes in unpaid tax.

ENDS

(News report from Issue No. 280, published on May 13 2016)