Joint venture to promote Russian industrial equipment
Russia’s Voronezh Mechanical Plant General Director Anatoly Chasovskikh has told Interfax news agency that Syria, Egypt and Russia will establish a joint venture to promote Russian industrial products in Middle Eastern markets.
Such products, including mainly machinery and industrial equipment, will be exempt from profit tax, VAT and customs duty, Chasovskikh added. Voronezh Mechanical Plant specializes in the production of rocket engines, airplane engines, oil and gas equipment, household gas and electric stoves and heating units.
Voronezh has recently won a tender for a one million dollars contract to supply oil and gas equipment to Syria. The tender drew bids from 10 companies from India, China, Austria and Germany. The Syrian Oil Company, which held the tender, will publish a new tender in late October for a $37 million contract for oil and gas equipment. — (Mena Report)
© 2001 Mena Report (www.menareport.com)
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