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Putin Paris visit brings upside for South Stream and Avtovaz
Published: 27 November, 2009, 16:31
Edited: 29 November, 2009, 19:07
Vladimir Putin give a press conference on November 27, 2009 (AFP Photo / Fred Dufour)
TAGS: Investment, Manufacturing, Markets, Russia and the global economy
A two day visit to Paris by Prime Minister Vladimir Putin has seen the announcement of agreements strengthening Russian-French business, with Renault commitment to Avtovaz, and EDF joining South Stream.
Beleaguered Russian carmaker, Avtovaz will get a boost after Putin announced that 25% shareholder Renault has agreed to contribute €300 million in technology and possibly direct investment towards its overhaul and restructuring.
"Renault assumes the obligation to invest the needed funds in the volume of 300 million euros in the near future, there is a schedule, and these funds will be contributed both in the form of technologies and possibly in the future as direct investments,"
The announcement came after Gazprom and Electricite de France (EDF) have agreed on participation by the French electicity generator in the South stream gas project. The $9 billion project, which is expected to be the conduit for 35% of Russia’s gas exports to Europe by 2015, has recently gained renewed impetus from Italian and Turkish backing. The Russian Prime Minister added the agreement bringing Electricite de France into the project extends the approach to German companies with NordStream in recent years.
“This is a new kind of cooperation, and in practice an exchange of assets. It’s what we have been doing in recent years, only with our German partners, in this area. Now we have done this with our French partners.”
26.11.2009, 17:15
1 comment
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27.11.2009, 17:16
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Russia has no choice but to be strategic and deal with these craven right wing leaders who are ruling France. I do agree with you, Count Cash, that Russia and France and [ Germany] are the most powerful countries in Europe and in the case or Russia Euro/Asia . I know nothing about economics but Russia has no choice but deal with neoliberalists in France. Putin loves his country and that why I am confident he will never sign a deal that is bad for Russia. But if Russia adopts the neo-liberalist economic model, Russia will go back to the bad old days between the fall of the Soviet Union and the rise of Putin.
As a frenchman I don't trust, neither Mr Fillon, Sarkozy and the whole actual french politic environment (Right or Left). Over the past half century, they have managed to ruin financialy and intellectualy the most lucky 550000km² territory on Earth. They are the CAC40's managers' pawns. All they care about are the well-being of the large multi-nationals corporations and their stocks' holders, which use other naions well qualified and underpaid labor-force to put french workers out of jobs and in total distress. There is absolutly no sincerity in those peoples; then if russians do business with them, be carefull and have warranties. Just, refere yourself to the recent past and don't confuse the good but unconscient french people and the greedy creepts "fossoyers" who manage the country and inform France's citizens. Sorry Future French Generations. war-trail. Sincerely. Jean-Claude Meslin
When you're in not good state and have got no cash to get out from that, you would have to receive the mortgage loans. Because that should help you for sure. I get college loan every single year and feel myself OK because of this.