L. Fituni, I. Abramova Resource Potential of Africa and Russia's ...
L. Fituni, I. Abramova Resource Potential of Africa and Russia's ... L. Fituni, I. Abramova Resource Potential of Africa and Russia's ...
Another promising sphere for Russian entrepreneurs’ activity in Egypt is the reconstruction of the projects built with the Soviet aid. In the late 1990s Russian state-run and private companies took part in two dozens of tenders for their modernization. 25 The Egyptian government is interested in foreign, including Russian, investments in the reconstruction of the Aswan High Dam 26 . In addition, Russian private capital may take part in major Egyptian investment projects related to the reclamation of new lands, such as the Toshka canal and New Valley project. One of the major Egyptian projects in Russia is the agreement between the Aviastar (Ulyanovsk) and Sirocco Aerospace International on the joint financing of the manufacturing and supply of 25 Tu-204 aircrafts by the private Egyptian aviation company Sirocco. Three such liners already fly from Cairo, and five more were purchased by Egypt in 2000. As far as Tu 204-120 is concerned, Sirocco Aerospace is integrating class-leading design, engineering and systems technologies from around the world into an aircraft, which translates into major financial benefits to operators and passengers comfort. The combination of significantly lower acquisition and operating costs will ensure that Tu 204 provides all of the benefits of established western manufactured aircraft with many additional features and at the same time offers an unbeatable cost per (seat x mile) to airline customers. Tu 204-120 is the first commercial aircraft to combine fully the best of the East and of the West. First three Tu 204-120 aircraft (2 passenger and 1 cargo) were delivered in 1998- 1999 to the Egyptian operator Cairo Aviation – "Air Cairo". Currently a contract to deliver 5 planes to a Chinese buyer is being fulfilled. An agreement was concluded with the European Bank for Reconstruction and Development to open a credit line for financing the project. An operating cost comparison between A321, Boeing 757 and Tu-204-120 reveals that Tu-204 has fuel, maintenance and finance seat-mile costs about one-third less than A321 and 757. Tu- 204 partially gains from lower Russian labor rates used for airframe and heavy component maintenance, but massively from a lease rate equivalent to two-thirds of its competitors’. Over time lengths studied, Tu-204 has 18% to 27% lower fuel maintenance and finance 167
seat-mile costs than A321 and 27% to 30% lower charges than 757. Tu-204 still requires JAA and FAA certification before this operating cost has any relevance to a western carrier. 27 In 2000, a joint Egyptian-Russian company was created to produce new Russian land-rovers on the basis of the technologies of the Ulyanovsk vehicle plant. Its authorized capital is 50 million Egyptian pounds. Amal Foreign Trade Company and Lada's parent company AvtoVAZ signed a joint venture agreement to assemble Ladas for the North African market in 2000. However, as they did not have their own factory, space was found at a local Suzuki plant in Cairo to assemble the 2107 version of the Lada Riva. In 2006, production continued at Suzuki with an additional model, 2110, being produced. The contract between AvtoVAZ and Amal Foreign Trade Co. to supply VAZ-2107 car parts for assembly in Egypt was signed in May 2001. It was expected that cars assembled by Lada-Egypt would be sold not only in Egypt, but in other African countries. Now Lada Egypt Motor Vehicles Industry&Assembly is a rapidly developing business. The global crisis unexpectedly revived interest in inexpensive and economical cars like Lada the world over. Later, in 2005, a joint car assembly plant owned by the Volga Automobile Plant (AvtoVAZ) and the Egyptian firm Amal Foreign Trade Co opened in the 10th of Ramadan City. The Lada-Egypt factory started assembling VAZ-2110 cars from parts supplied by the Volga Automobile Plant. In 2009-2010, about 2,000 Russian cars were assembled annually. The first shipment of VAZ-2107 parts was sent from Togliatti to Egypt. In the future, once VAZ models have been modernized, the number of sets of parts to be shipped to Egypt will increase to 5,000 per year. In 2007, a Lada Servicing Station was launched in Alexandria. Until then, there was only one Lada service centre in Egypt in Cairo. However, that usually did not create much of a problem with spare parts and servicing, since the local Egyptian Nasr car is, like Lada, based on the Fiat prototype. Local owners often had used Nasr service stations and spare parts if necessary. The new business concept of the Russian auto producer envisages more direct services for 168
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Another promising sphere for Russian entrepreneurs’ activity in<br />
Egypt is the reconstruction <strong>of</strong> the projects built with the Soviet aid.<br />
In the late 1990s Russian state-run <strong>and</strong> private companies took part<br />
in two dozens <strong>of</strong> tenders for their modernization. 25<br />
The Egyptian government is interested in foreign, including Russian,<br />
investments in the reconstruction <strong>of</strong> the Aswan High Dam 26 .<br />
In addition, Russian private capital may take part in major Egyptian<br />
investment projects related to the reclamation <strong>of</strong> new l<strong>and</strong>s,<br />
such as the Toshka canal <strong>and</strong> New Valley project.<br />
One <strong>of</strong> the major Egyptian projects in Russia is the agreement<br />
between the Aviastar (Ulyanovsk) <strong>and</strong> Sirocco Aerospace International<br />
on the joint financing <strong>of</strong> the manufacturing <strong>and</strong> supply <strong>of</strong> 25<br />
Tu-204 aircrafts by the private Egyptian aviation company Sirocco.<br />
Three such liners already fly from Cairo, <strong>and</strong> five more were purchased<br />
by Egypt in 2000. As far as Tu 204-120 is concerned, Sirocco<br />
Aerospace is integrating class-leading design, engineering <strong>and</strong><br />
systems technologies from around the world into an aircraft, which<br />
translates into major financial benefits to operators <strong>and</strong> passengers<br />
comfort. The combination <strong>of</strong> significantly lower acquisition <strong>and</strong> operating<br />
costs will ensure that Tu 204 provides all <strong>of</strong> the benefits <strong>of</strong><br />
established western manufactured aircraft with many additional features<br />
<strong>and</strong> at the same time <strong>of</strong>fers an unbeatable cost per (seat x mile)<br />
to airline customers. Tu 204-120 is the first commercial aircraft to<br />
combine fully the best <strong>of</strong> the East <strong>and</strong> <strong>of</strong> the West. First three Tu<br />
204-120 aircraft (2 passenger <strong>and</strong> 1 cargo) were delivered in 1998-<br />
1999 to the Egyptian operator Cairo Aviation – "Air Cairo". Currently<br />
a contract to deliver 5 planes to a Chinese buyer is being fulfilled.<br />
An agreement was concluded with the European Bank for<br />
Reconstruction <strong>and</strong> Development to open a credit line for financing<br />
the project. An operating cost comparison between A321, Boeing<br />
757 <strong>and</strong> Tu-204-120 reveals that Tu-204 has fuel, maintenance <strong>and</strong><br />
finance seat-mile costs about one-third less than A321 <strong>and</strong> 757. Tu-<br />
204 partially gains from lower Russian labor rates used for airframe<br />
<strong>and</strong> heavy component maintenance, but massively from a lease rate<br />
equivalent to two-thirds <strong>of</strong> its competitors’. Over time lengths studied,<br />
Tu-204 has 18% to 27% lower fuel maintenance <strong>and</strong> finance<br />
167
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