Monthly Archives: March 2011

Russia’s leading integrated and diversified meat producer Cherkizovo Group to acquire Mosselprom

OJSC Cherkizovo Group is to acquire 100 per cent of Mosselprom. Cherkizovo is one of Russia’s leading integrated and diversified meat producers. The firm announced it has clinched a deal for the acquisition of 100% of Mosselprom, saying the investment … Continue reading

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Russia’s state-controlled oil pipeline monopoly Transneft to invest US$ 5.69 billion in new facilities

Transneft, Russia’s state controlled oil pipeline giant, said Monday it will invest an estimated 161.59 billion rubles, around US$5.69 billion in the establishment of new facilities in 2011, reported RIA Novosti. Transneft expects the investment to enable it construct an … Continue reading

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RusForest acquires Nord Timber Group (NTG) to become one of Europe’s leading forestry companies

In a move aimed at expanding its operations in the Russian Arkhangelsk region, RusForest has entered into a sale and purchase agreement with the shareholders of Clonri Holding Limited and Piatkowski Holdings Limited, which together with subsidiaries comprise the Nord … Continue reading

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Russia’s Rosneft to forge ahead with its planned investment with BP despite unfavorable arbitration ruling

Russia’s Rosneft has said it will forge ahead with a planed deal with BP despite unfavorable ruling by an arbitration panel. The Russian firm had gone into a strategic alliance with BP, but the move encountered opposition from BP’s partners … Continue reading

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Kinross Gold Corp. receives pre-approval to increase Kupol ownership to 100 per cent from 75 per cent

Canada’s Kinross Gold Corp. announced Friday that its Kupol Ventures Ltd division has obtained pre-approval from a Russian commission to buy the rest of Chukotka Mining and Geological Company. Kupol currently owns 75 per cent of Chukotka, which owns licenses … Continue reading

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NOVATEK executes call option agreement to buy remaining 25.1 per cent stake Yamal LNG

OAO NOVATEK (NOVATEK) announced it has executed a call option agreement for the right to purchase the remaining 25.1 per cent stake in Yamal LNG. The transaction is for a consideration of US$526 million, which is valid until 1 July … Continue reading

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3M to invest at least $15 million in the construction of two local manufacturing facilities in Russia

3M, an American conglomerate, has said it is mulling the construction of two local manufacturing plants in Russia. 3M’s Russia chief executive announced the firm is planning at least $15 million worth of investment, to be used for the construction … Continue reading

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Russia to create a $10 billion direct investment fund with foreign participation to invest in hi-tech and modernization projects

The Kommersant business daily reported that Russia is planning to create a $10 billion direct investment fund with foreign participation to invest in hi-tech and modernization projects. The Kommersant business daily report indicated that Russia’s Economic Development Minister Elvira Nabiullina … Continue reading

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JSC TransContainer picks up over 67% of leading private operator of cargo handling terminal facilities JSC KedenTransService

Russia’s JSC TransContainer (TRCN) has acquired more than 67% stake in JSC KedenTransService. TransContainer picked 20.1% of the stake directly and 46.9% stake indirectly through a subsidiary. KedenTransService is a leading private operator of cargo handling terminal facilities in Kazakhstan. … Continue reading

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General Electric’s 6FA Technology to be key in the modernization of Russia’s Energy Infrastructure

Russian power Generation Company TGK-9, an affiliate of Integrated Energy Systems (IES), has selected advanced gas turbine technology from General Electric (GE) for a combined-cycle plant that will supply heat and electricity for the residents of Berezniki, an industrial city … Continue reading

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