Page 25 - bne_newspaper_November_17_2017 700

Weekly Lists
November 17, 2017 www.intellinews.com I Page 25
bne:
Infrastructure
Estonia and Finland to start construction of gas link in 2018
Damen takes over Daewoo shipyard in Romania
Estonia and Finland will start building a gas pipeline to link the two countries in 2018, Baltic Connector, the Finnish company involved in the project said on November 15.
The link to join Estonia and Finland is a priority EU infrastructure project, aimed at reducing the regional role of Russian gas giant Gazprom as supplier to the Baltic region.
The pipeline will link the Estonian and Finnish natural gas networks via a 150km pipeline, 80km of which will run under the Baltic Sea.
Construction of the link is planned to be completed by 2020. The Estonian-Finnish pipeline – as well as a planned link between Poland and Lithuania – is earmarked to complete the "Baltic Gas Ring,"
a network of pipelines joining the countries around the Baltic Sea.
Damen Shipyards Group has entered into a share purchase agree- ment with Daewoo Shipbuilding & Marine Engineering (DSME) to ac- quire its majority share in Daewoo Mangalia Heavy Industries (DMHI) located in Mangalia, Romania, Damen announced on November 10.
Damen already owns a shipyard in Romania, in Galati on the banks of the river Danube, which is currently the group’s largest shipyard. As such, the latest move represents a strategic complement to Damen’s current shipyard portfolio.
The Mangalia shipyard is located on the Black Sea coast on an area of 980,000m2.
Daewoo has controlled 51% of the Mangalia shipyard since 1997, began talks on the sale of the shipyard last year as part of efforts to restructure its international operations. The South Korean company has faced huge financial problems for years amid a downturn in the global shipbuilding industry.
The Asian Development Bank (ADB) has agreed to lend $80mn to Uzbekistan for the electrification of a 145km railway in the country, linking the cities of Pap, Namangan and Andijan.
The project will “facilitate the direct and efficient operation of freight and passenger train services, and promote economic and social development in the Fergana Valley”, the ADB said. It will link the Fergana Valley, where a third of the Uzbek population resides, with the capital Tashkent, as well as increasing regional trade along CAREC’s Corridor 2.
ADB to agrees to lend $80mn for Uzbek railway electrification