Construction of a power line of 500 kilovolts is under consideration for ensuring the electricity supply from Turkmenistan to Pakistan. The route of the new electricity grid will run in parallel to the route of Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline. Moreover, work is underway on constructing Mary – Sarakhs – Mashhad (Turkmenistan-Iran) overhead power transmission line…
The international rating agency Fitch Ratings has affirmed Kazakhstan-based JSC KazTransOil’s (KTO) Long-Term Foreign Currency Issuer Default Rating (IDR) at ‘BBB-‘ with a Stable Outlook, the rating agency reported. “The ratings reflect KTO’s strong operational and financial profile, which we expect the company to maintain at least over the medium term, as well as its…
International Finance Corporation (IFC) is considering the possibility of financing the Southern Gas Corridor project, IFC representative in Azerbaijan Aliya Azimova said. She pointed out that this project was of great importance for the entire region. “We constantly follow the ongoing processes in this project and systematically connect with its main participants. However, for the…
Construction of a pipeline through Greece for supplies of Russian gas to Europe is a purely economic project and Athens is determined to implement it as soon as possible, Special Adviser to the Greek Prime Minister Dimitris Velanis said. “We will certainly go for implementation of the project. And Europe knows it”, he said. The…
The Global Cold Chain Alliance (GCCA) is prepared to help Azerbaijan expand the potential of agribusiness and make Azerbaijani agricultural products reach domestic and foreign markets, GCCA Vice President of International Programs Richard Tracy said. Tracy said he was impressed by some enterprises in Azerbaijan, adding that they fully met international standards, however, some businesses…
Kazakhstan’s economy attracted more than 1.3 trillion tenges in foreign investment in January-July, up by 25% YoY, Ranking.kz analytical service said in its report. In July alone 181 billion tenges were injected into Kazakh economy, up by 5.3% YoY. However, foreign investments in fixed capital accounted only for 28% of total investments. The highest share…
Belarus’ foreign trade surplus totaled $64.3 million in January-July compared to a $974.3 million surplus in January-July 2015, the National Bank of Belarus said. The overall turnover of commodities and services in foreign trade shrank by 14.3% YoY in January-July to $32.874 billion. Exports of commodities and services reduced by 16.3% YoY to $16.469 billion,…