Accessibility links

Breaking News

Tatar-Bashkir Report: January 7, 1999

7 January 1999
Kazan Helicopter Plant To Join Russian-French Venture
The republican press reports that the Kazan helicopter plant (KHP) will sign a contract in the first half of 1999 on producing the experimental Mi-38 helicopter for the French-Russian Euromil venture. In another contract to be signed by KHP, Eurocopter, Euromil, and Pratt and Whitney Canada will arrange for the delivery of two Pratt and Whitney engines for the assembly. Foreign companies will produce about 50 percent of the necessary parts. Eurocopter is to pay the production expenses for the navigation devices and interior equipment of the Mi-38. The companies did not announce the total cost of the project, though the press quoted a $400-500 million cost suggested by anonymous experts. The average price of an Mi-38 is expected to be 25-30 percent lower than its European analog, the EN-101. Recent studies of the helicopter market showed that the average demand for Mi-38s had hit the 400-unit mark. Commonwealth of Independent States countries are expected to purchase 300 units. The Mi-38 is expected to gradually replace the older Mi-8 and Mi-17 models, which are still in use around the world.

Tatarstan Republic's Debt Revealed
According to Tatarstan's Ministry of Finance, the state debt in December 1998 reached $411 million. The Tatar government also owes some 449.8 million rubles to state employees and companies. About $261 million of debt burden is represented by loans given to the Tatneft company under a guarantee from the republic's government. Creditor banks of Tatarstan's government are ING Barings ($100 million) and Credit Suisse-First Boston ($50 million).

Tatneft Among Russian Oil Giants
In the first 11 months of 1998 the Tatneft company maintained its place among the top five Russian oil companies, having produced 22.5 million tons of oil. Within the same time the leader, LukOil, extracted about 48.9 million tons. The Yukos company drilled 31.2 million tons, Surgutneftegaz was at 32.1 million and Sidanko 18.3 million tons.

Tatarstan To Establish Closer Relations With Quebec
Alexandra Biranini, who heads the the department for Russia and the CIS countries for the Foreign Economic Affairs Ministry of Quebec, met with the officials of Tatarstan's State Council in Kazan on 6 January to discuss the further development of cultural relations between Tatarstan and the province of Quebec. Biranini said her government was also interested in sharing the experience of Tatarstan's federal policy.

Compiled by I. Nurmi