Tag Archives: business

Eriell buys Uzbek subsidiary

JAN. 14 2017 (The Conway Bulletin) — Eriell GmbH, an Austria-registered company whose biggest shareholder is Gazprombank, has bought a 51% stake in Sarbon-Neftegaz from the state-owned Uzbekenergo, the Tashkent stock exchange reported. The Italian-language agcnews.eu website said that Eriell had paid $3.94m for the stake. Sarbon-Neftegaz provides transport services to oil and gas companies in Uzbekistan.

ENDS

(News report from Issue No. 313, published on Jan. 20 2017)

Kazakhstan not to regulate telecome prices

JAN. 18 2017 (The Conway Bulletin) — The authorities in Kazakhstan have decided not to dictate telecoms prices this year, the telecompaper.com website reported quoting Kazakh sources. The authorities had considered interfering in the competitive Kazakh market, which has been characterised by price drops. Telecompaper.com said that the decision would make Kazakh telecoms companies more competitive in the Eurasian Economic Union.

ENDS

(News report from Issue No. 313, published on Jan. 20 2017)

Kazakhstan not to regulate telecome prices

ENDS

(News report from Issue No. 313, published on Jan. 20 2017)

Korea gives loan to Azerbaijan’s Socar

JAN. 17 2017 (The Conway Bulletin) — South Korea’s state Export-Import bank EximBank has given Azerbaijan’s Socar a $500m loan to build a carbamide plant in Sumgait near Baku. Carbamide, also known as urea, is a chemical used either as a fertiliser or in the plastics industry. South Korea will view the loan as a way of extending relations between the two countries. The EximBank loan covers around two- third of the cost of the plant which will come online in 2018. South Korea’s Samsung Engineering is the main contractor.

ENDS

(News report from Issue No. 313, published on Jan. 20 2017)f

Korea gives loan to Azerbaijan’s Socar

ENDS

(News report from Issue No. 313, published on Jan. 20 2017)f

Azerbaijan wants to increase hazelnut growth

JAN. 18 2017 (The Conway Bulletin) — Azerbaijan wants to nearly triple the size of the area it has growing hazelnuts, media reported quoting officials. Azerbaijan’s economy has shrunk this year because of its over-dependence on oil and gas exports. The government has now said that it wants to diversify the economy and part of this process is to push agriculture.

ENDS

(News report from Issue No. 313, published on Jan. 20 2017)

Kazakhstan delivers wheat to Vietnam

JAN. 19 2017 (The Conway Bulletin) — Kazakhstan delivered its first batch of wheat to Vietnam via train to a Chinese port and then by cargo ship to Ho Chi Minh city on Vietnam’s Mekong Delta, media reported quoting a Kazakh railway executive. The importance of the opening up of this route is the successful use of the Kazakhstan- China railway which can effectively link Kazakhstan to East Asia.

ENDS

(News report from Issue No. 313, published on Jan. 20 2017)

Kazakhstan signs deal with DP World

JAN. 16 2017 (The Conway Bulletin) — The UAE’s DP World signed a deal to develop a special economic zone in Aktau, western Kazakhstan. The deal was signed during a trip to Dubai by Kazakh businessmen and government officials lead by President Nursultan Nazarbayev. DP World is one of the largest port operators in the world. Aktau is Kazakhstan’s main Caspian Sea port.

ENDS

(News report from Issue No. 313, published on Jan. 20 2017)

China to build solar plant in Uzbekistan

JAN. 14 2017 (The Conway Bulletin) — Zhuhai Singyes Green Building Technology, a Chinese company, won a tender at the end of 2016 to build a solar panel field in southern Uzbekistan, state-run Uzbekenergo told the Trend news agency. Uzbekistan has been looking to boost its renewable energy capacity and has been increasingly turning to solar power.

ENDS

(News report from Issue No. 313, published on Jan. 20 2017)

China eyes major purchase on Georgian coast

TBILISI, JAN. 16 2017 (The Conway Bulletin) — China underlined its ambitions to boost its presence in the South Caucasus by signing a deal with the Georgian government that could lead it to buying up 75% of the Poti Special Industrial Zone on the Black Sea coast.

Poti is the main entry and exit points into and out of Georgia for goods. It is majority owned by APM, a unit of Maersk Group.

Owning a majority stake in the Poti Special Industrial Zone would be a massive boost for China and would give it a major presence on the Black Sea for the first time.

A memorandum of understanding was signed by the Georgian government and CEFC China Energy Company Limited at a ceremony in Tbilisi attended by Georgian PM Giorgi Kvirikashvili.

Georgian media spun the deal as part of China’s One Belt, One Road project which aims to revive the Silk Road across Central Asia between China and Europe.

ENDS

(News report from Issue No. 313, published on Jan. 20 2017)