Tag Archives: industry

Kazakh businessman buys Turkish companies

OCT. 24 2016 (The Conway Bulletin) — Nurlan Saurambayev, CEO of SAT & Co, a Kazakh industrial conglomerate, bought two of the company’s Turkish subsidiaries, SAT&Co Holding A.S. and SAT&Co Madencilik A.S. for an undisclosed amount. Powerful businessman Kenes Rakishev owns 77.7% in SAT & Co. Mr Rakishev had increased his stake in late 2015, after forcing former CEO Rollan Mussinov to step down. Mr Saurambayev was appointed CEO in October 2015.

ENDS

(News report from Issue No. 302, published on Oct. 28 2016)

Kazakh ministry requires solution from ArcelorMittal

SEPT. 27 2016 (The Conway Bulletin) – Kazakhstan’s ministry of investments and development said that steelmaker ArcelorMittal Temirtau needs to present a viable timetable to fix its financial problems or it could face legal prosecution. Albert Rau, the minister, told official media that the company could be using seasonal stoppages at its plant in central Kazakhstan to avoid finishing the year with a profit.

ENDS

(News report from Issue No. 298, published on Sept. 30 2016)

HeidelbergCement to invest in Georgia

SEPT. 28 2016 (The Conway Bulletin) – Germany’s HeidelbergCement said it will invest $100m into expanding its cement and concrete plant in Kaspi, a small town 50km outside of Tbilisi in northern Georgia. HeidelbergCement has operated in Georgia for 10 years.

ENDS

(News report from Issue No. 298, published on Sept. 30 2016)

Turkmen Union of Industrialists needs cash

JULY 12 2016 (The Conway Bulletin) — The Turkmen Union of Industrialists and Entrepreneurs, a lobby group, has allegedly asked local entrepreneurs to pitch in and aid the government’s budget with donations of up to $100,000, the opposition website Chronicles of Turkmenistan said. The request apparently was outlined during a meeting by the Union’s chairman, Alexander Dadayev. Since 2012, the Union established the Party of Industrialists and Entrepreneurs, a government-linked party.

ENDS

(News report from Issue No. 289, published on July 15 2016)

Uzbek and Bulgarian oil companies open recycling plant

MAY 17 2016 (The Conway Bulletin) — Bulgarian oil company Prista and Uzbekistan’s Uzneftprodukt opened a new oil recycling plant in Angren, eastern Uzbekistan. The new plant will process 43,000 tonnes of used oil and produce 30,000 tonnes of fuel per year. The venture spent around $15m building the plant. Bulgarian PM Boyko Borisov travelled to Tashkent to take part in the inauguration ceremony.

ENDS

(News report from Issue No. 281, published on May 20 2016)

Norway asks Tajikistan about TALCO’s ownership

MARCH 6 2016 (The Conway Bulletin) – Norway’s parliament challenged the Tajik government to reveal exactly who was the real beneficiary behind the TALCO aluminium smelter company. Newspaper reports have focused on potential corruption at the plant and in deals that included Norway’s part-state owned Norsk Hydro.

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(News report from Issue No. 271, published on March 11 2016)

Azerbaijan’s steel to invest in Iran

SEPT. 18 2015 (The Conway Bulletin) — Azerbaijan’s Baku Steel Company (BSC) will invest in Iran, Mehdi Karbasian, the Iranian deputy minister of industry told the Trend news agency. Last week, Mr Karbasian visited Azerbaijan’s capital Baku and said BSC, a privately owned company, is particularly interested in two Iranian projects.

ENDS

(News report from Issue No. 249, published on Sept. 25 2015)

Armenia to produce lifts

SEPT. 18 2015 (The Conway Bulletin) — Armenian private company ADA Tech and the Chinese lift manufacturing factory Koyo signed an agreement to jointly build a lift factory in Armenia by 2018.

ENDS

(News report from Issue No. 249, published on Sept. 25 2015)

Russia blocks Uzbek-bound dairy products

SEPT. 1 2015 (The Conway Bulletin) – Russia’s health department blocked the transit of 40 tonnes of dairy products from Latvia and Germany from travelling across its territory to Uzbekistan. Reports said the shipment had broken transit rules. European producers have dodged sanctions on Russia by sending products to Uzbekistan which they then send onto Moscow.

ENDS

(News report from Issue No. 246, published on Sept. 4 2015)

Iran deal to boost steelmakers in Kazakhstan

JULY 20 2015 (The Conway Bulletin) – Lifting of international sanctions against Iran will give Kazakhstan’s steelmaking industry, and the ArcelorMittal plant at Temirtau in particular, a boost, Asset Isekeshev, Kazakh minister for industrial development, said.

ArcelorMittal Temirtau, near Karaganda, is one of the most important factories in Kazakhstan outside the oil and gas sector but it has struggled recently because of a drop in demand for steel from Iran.

“The lifting of sanctions against Iran could be a big plus for ArcelorMittal. This is a big market for us and this would allow us to stabilise operations,” Mr Isekeshev said at a press conference.

According to officials from ArcelorMittal Temirtau, Iran makes up around a third of its export market. Over the past few years, ArcelorMittal has tried to cut costs at the plant. It has laid-off thousands of workers and imposed salary cuts.

A new railway transport route from Kazakhstan, across Turkmenistan into Iran should also help ArcelorMittal exports.

ENDS

(News report from Issue No. 241, published on July 23 2015)