Sun, Dec

China's COSCO Shipping Ports and Abu Dhabi Ports Launch New Terminal at Khalifa Port, UAE

Abu Dhabi, Dec. 16: China’s COSCO Shipping Ports (CSP) and Abu Dhabi Ports on Monday inaugurated the new CSP Abu Dhabi Terminal at Khalifa Port to help connect Abu Dhabi to the company’s global network of 36 ports and bolster its role as a hub along China’s Belt and Road Initiative (BRI).

The deep-water, semi-automated container terminal includes the region’s largest container freight station, covering a total area of 275,000 square-metres. The facility also offers facilities for full and partial bonded container shipments and a range of container packing services, warehousing for de-consolidated cargo and connectivity to other terminals in Khalifa Port.

The terminal is also CSP’s first greenfield subsidiary. So far, CSP has invested AED 1.1 billion  ($299.4 million) in capital expenditure on construction and machinery at the facility.

According to Abu Dhabi Ports, the partnership with CSP forms part of a larger effort to strengthen Abu Dhabi’s maritime sector and the emirate’s economic diversification.

Abu Dhabi Ports has earmarked AED 10 billion ($2.72 billion) in investment to increase capacity at Khalifa Port from the current 5 million TEU to 9.1 Million TEU, which includes boosting capacity at Terminal 1 to over 5 million TEU.

The CSP Abu Dhabi terminal, for its part, has a design capacity of 2.5 million TEU and will begin with a handling capacity of 1.5 million TEU.

“The decision by COSCO Shipping Ports to invest in Abu Dhabi is a testament to our strategic location, attractive business environment and supportive regulation,” said Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Department of Transport. “We believe that it will open the door to more foreign direct investment.”

Ning Jizhe, Deputy Director of China’s National Development and Reform Commission, said that the CSP terminal is a “major milestone” for China’s Belt and Road Initiative.

“[It is} also a good start for China and UAE’s pragmatic cooperation in other areas,” he said. “The two countries strong determination for cooperation laid a solid foundation for development and deepening of mutual relations, and thus provided promising prospects for cooperation in the future….China and UAE will continue to cooperate in more flagship projects and jointly contribute to the Belt and Road Initiative.

China is currently the UAE’s largest non-oil trading partner, with bilateral trade between the two increasing 15 percent to $53 billion in 2017.

During the same period the UAE accounted for nearly 30 per cent of total Chinese exports to Arab countries and about 22 per cent of total Arab-China trade. Bilateral trade is expected to increase to $70 billion a year by 2020.

The new terminal is also expected to ease the way for companies seeking to establish, expand or enhance their trade by using local manufacturing, warehousing or logistics operations within Abu Dhabi. It will also act as a catalyst for investment by foreign companies to set up in the free zone of Khalifa Industrial Zone Abu Dhabi (Kizad).

Kizad, which comprises 410 square kilometres, has attracted more than 200 tenants and Dh65 billion in investment till date.

A total of 19 Chinese companies have signed lease agreements for land in Kizad with investment surpassing more than $1 billion, officials said earlier this year.

The new terminal is part of Abu Dhabi Ports’ five-year growth strategy to increase Khalifa Port, with its two container terminals, to a combined total capacity of 9.1 million TEUs.

China, UAE agree to Facilitate Cooperation in Energy, Industrial Parks, Ports under Belt and Road Initiative

Beijing, July 20: China and United Arab Emirates (UAE) have agreed to facilitate cooperation in energy, industrial parks and ports under the Belt and Road Initiative.  This was stated during meeting of visiting United Arab Emirates (UAE) Minister of State Sultan Ahmed Al Jaber with Chinese Foreign Minister Wang Yi on July 19, 2017. China is confident that Gulf countries have the wisdom to resolve divergence and is willing to play a constructive role to help ease tensions according to the will of regional parties.

China is a good friend of the Gulf countries, said Wang, expressing the hope that the current Gulf crisis can be properly resolved.
Wang said that China stands by the principle that the crisis should be resolved through political and diplomatic means and all relevant parties should take due responsibility.
According to Wang, the crisis should be settled within the framework of the Gulf Cooperation Council (GCC) and outside countries should play a constructive role.
"Concerned parties should sit down for talks as soon as possible and show flexibility in dealing with each other," Wang said, adding that reaching a consensus on fighting terrorism of all forms is the first priority.
Al Jaber said that the UAE is committed to resolving the crisis through political and diplomatic means and has no intention to interfere in the domestic affairs of Qatar or other countries.
The UAE hopes that relevant parties can reach consensus on fighting terrorism and honor the agreements already signed and their commitments already made, he said.
"China is an influential and responsible country," said Al Jaber, adding that the UAE appreciates China's objective and impartial position on Gulf affairs.
Source: Xinhua

MAKS-2017 Airshow to Promote Russian Aerospace Products on Global Market Says Putin

MOSCOW, July 18 :The 13th International Aviation and Space Salon (MAKS) in Russia will facilitate further cooperation in the aerospace industry and promote Russian products both at home and abroad, Russian President Vladimir Putin said Tuesday.

"An extensive exposition will be deployed. Leading Russian and foreign companies will present their achievements," Putin said in a speech at the opening ceremony of the MAKS-2017 airshow, which runs from Tuesday to Sunday in the Russian city of Zhukovsky on the southeastern outskirts of Moscow.

MAKS 2017 Airshow to Promote Russian Aerospace Products on Global Market Says Putin

Russian President Vladimir Putin speaks at the opening ceremony of the MAKS-2017 (the International Aviation and Space Show) in Zhukovsky, outside Moscow, Russia, Russia, Tuesday, July 18, 2017.

Over 790 aviation and aerospace companies from 26 countries and regions are expected to showcase thousands of products and design projects at the airshow in search of cooperation opportunities.

"Conferences and seminars will take place on topical issues of the industry development. A number of negotiations and signing of major contracts are planned," Putin said.

thumbnail MAKS 2017

Russian President Vladimir Putin speaks at the opening ceremony of the MAKS-2017 (the International Aviation and Space Show) in Zhukovsky, outside Moscow, Russia, Russia, Tuesday, July 18, 2017.

"We expect that all this will contribute to the strengthening of production cooperation, the growth of international cooperation, the promotion of Russian products in the domestic and foreign markets. We have something to offer," the president said.

More than 73,000 professionals have signed up for a visit at the airshow so far, and the total number of visitors is expected to reach hundreds of thousands, according to the organizing committee of the airshow.

thumbnail MAKS 2017 in Russia 7

Russian President Vladimir Putin speaks at the opening ceremony of the MAKS-2017 (the International Aviation and Space Show) in Zhukovsky, outside Moscow, Russia, Russia, Tuesday, July 18, 2017.

Founded in 1993, the MAKS is a biennial event aimed at displaying Russian aerospace-related high-tech products and promoting business cooperation with foreign partners in the aerospace sector.

The entire event usually lasts for six days, exclusively accessible to research and development institutions, business organizations and the press in the first three days, and then open to the public for the rest of the time.


WALINI, Indonesia, July 16 :The Walini tunnel project of the High-Speed Railway (HSR) linking Indonesian capital Jakarta to Bandung was launched here Saturday.

Indonesian State-owned Enterprises (SoE) Minister Rini Soemarno attended the ground-breaking ceremony and visited the project in Walini in Bandung Regency.

"I am optimistic about this project which would be in full swing at the end of August. It means that any obstacles we are facing now need to be cleared," Rini told Xinhua.

thumbnail Walini Tunnel Project for Indonesia27s Jakarta Bandung High Speed Railway Starts

The minister said she will immediately coordinate with state power firm PLN and the Ministry of Public Works to overcome the obstacles.

"I am pleased with these developments so far. I have heard about results of cooperation with the Chinese firms here, such as recruitment of locals in the projects," she said.

The project was previously delayed due to official permits and land compensation issues, she said.

"But as the state enterprise minister who is a shareholder of this project, I will make it sure this project would be completed as we have planned," she said.

Praising the Indonesian minister's commitments, Zhang Wei, general manager of the China Railway Engineering Corporation (CREC) Jakarta-Bandung High-Speed Railway project, said that the commencement of the tunnel project will offer a significant demonstration and give experience for other tunnel constructions in the HSR project.

"As the first formal project of the Jakarta-Bandung HSR project, the commencement of the tunnel in Walini marks an important step in the overall construction," Zhang told Xinhua.

The CREC will cooperate with other Chinese contractors so as to contribute to the accomplishment of the HSR project and the China-proposed Belt and Road Initiative, he said.

The Jakarta-Bandung HSR project contract was signed in Jakarta in early April between consortium joined by Chinese and Indonesian firms and KCIC, a China-Indonesia joint firm tasked with monitoring the project.

The 142-km-long railway project is the first of such in Indonesia as well as in the whole region of Southeast Asia.

It is expected to be built in three years and the high-speed train could reach a speed of 350 kilometers per hour.

The HSR would shorten the traveling time between the two cities from three hours to 40 minutes and spur economic activities along the line. (Xinhua)

Azerbaijani, Turkish and Turkmen Agree to Develop a 2017-2020 Cooperation Roadmap

BAKU, July 19 : Azerbaijani, Turkish and Turkmen foreign ministers have agreed to develop a Road Map for Future Cooperation for 2017-2020, Azerbaijan’s FM Elmar Mammadyarov said on July 19, at a briefing held after the meeting with his Turkish and Turkmen counterparts, Mevlut Cavusoglu and Rashid Meredov in Baku.

“We had interesting and fruitful negotiations. The three countries are carrying out numerous regional projects and we have discussed the progress in their implementation,” said the Azerbaijani FM.

He noted that the project for building the Baku-Tbilisi-Kars railway will be completed by the end of 2017, and subsequently great opportunities for cooperation will emerge.

Azerbaijan, Turkey and Turkmenistan also intend to use other ways for cargo transportation, via trunk lines and sea routes as well, Mammadyarov said, adding this issue was today discussed at the trilateral meeting.

“Next year, the work will be completed on expansion of the port in Turkmenbashi, which will increase cargo transportation between the ports of Alat and Turkmenbashi up to 25 million tons per year,” he said.

Azerbaijan’s capital, Baku, today hosted the 4th meeting of the foreign ministers of Azerbaijan, Turkey and Turkmenistan, Elmar Mammadyarov, Mevlut Cavusoglu and Rashid Meredov.

The agenda of the meeting of the three countries’ FMs included the development of cooperation in the political, economic, energy, transport and humanitarian spheres, and the implementation of regional projects.

Source: Trend

Trade between Russia and China Saw Boom in First 6 Months of 2017

Beijing, July 16: Trade between Moscow and Beijing has increased significantly in the first six months of the year, according to the Chinese customs administration.

Through June, trade between Russia and China was worth $39.78 billion. Russian exports increased 29.3 percent to $20.34 billion, while Chinese exports to Russia were up 22.2 percent to $19.44 billion.

thumbnail Trade between Russia and China Saw Boom in First 6 Months of 2017

In 2016, trade between Moscow and Beijing grew only 2.2 percent to $69.52 billion. The countries have set a goal to boost trade to $200 billion by 2020.

In July, the Russian Direct Investment Fund and the China Development Bank (CDB) agreed to establish a Russian-Chinese investment fund worth 68 billion yuan ($10 billion). It was created to make settlements in ruble and yuan easier.

Both Moscow and Beijing have repeatedly talked about the importance of payments in local currencies for bilateral trade.

The agreement was signed at a meeting between Russian President Vladimir Putin and Chinese President Xi Jinping, while he was in Russia on an official visit.

The countries are also jointly building the Power of Siberia gas pipeline, and a liquefied natural gas (LNG) facility on the Yamal Peninsula in the Russian Arctic.

Over the past year, Russia has overtaken Saudi Arabia as China's top oil supplier.

China is building a new transport corridor to Europe as part of the Belt and Road Initiative (also known as the New Silk Road), which goes through Kazakhstan and Russia to Europe.

Source: RT

Russia has extended an invitation to Saudi Arabia’s oil giant Saudi Aramco to participate in the Arctic LNG-2 project, Russia’s Energy Minister Alexander Novak told Reuters in an interview on Thursday.

Russia offers Saudis a part in Arctic LNG 2 project

Cooperation between the two countries that are leading respectively the OPEC and non-OPEC nations into the collective crude oil production cut deal, have “top-flight” energy cooperation, which could further deepen if the Saudis were to take up the offer for a role in Arctic LNG-2, according to Novak.

“Saudi Aramco was offered different options of participation in Arctic LNG-2,” the Russian minister told Reuters, but did not specify what the planned role for Saudi Arabia was.

Saudi Arabia will consider investing in Russia’s Arctic LNG project, especially if it could be used to deliver LNG to the Middle Eastern country, Saudi Energy Minister Khalid al-Falih told Russian news agency TASS in an interview in early June.

“At this stage, of course, it is too early to talk about specific projects,”al-Falih said back then.

The Arctic LNG-2 project is led by the biggest private gas producer in Russia, Novatek, which aims to begin construction of the first LNG train in 2022 or 2023. Novatek has yet to pick partners for this project.

READ MORE: Chinese investments shore up Russia’s Arctic LNG project – Total CEOCurrently, Russia has just one operating LNG export facility, Sakhalin, whose majority shareholder is Russian gas giant Gazprom. But soon, the Yamal LNG project in the Arctic will become operational. The project plans to begin selling LNG on the sport market this year, and start deliveries under long-term contracts next year, Leonid Mikhelson, the chief executive of Yamal LNG’s majority shareholder Novatek has said.

According to a Wood Mackenzie report from April, this year will be a decisive year for Russian LNG, when the first ever multi-train Arctic LNG project—Yamal LNG—is commissioned. The Arctic LNG-2 project in northern West Siberia will be the second large-scale LNG project led by Novatek, after Yamal LNG.

Despite its huge conventional gas reserves, Russia’s share in the global LNG market is small, at around 4 percent, WoodMac says.

Source by: rt.com

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