• Short Summary

    WEST GERMANY AND THE SOVIET UNION HAVE SIGNED THE BIGGEST INDUSTRIAL AGREEMENT ANY WESTERN COUNTRY HAS YET MADE WITH THE SOVIET.

  • Description

    WEST GERMANY AND THE SOVIET UNION HAVE SIGNED THE BIGGEST INDUSTRIAL AGREEMENT ANY WESTERN COUNTRY HAS YET MADE WITH THE SOVIET. IN THE MULTI-MILLION POUND DEAL THE SOVIET UNION WILL PURCHASE GIANT STEEL PIPES FROM WEST GERMANY AND IN RETURN WILL SUPPLY THE GERMANS WITH NATURAL GAS FROM SIBERIA.

    THE GERMAN STEEL COMPANIES OF MANNESMANN AND THYSSEN WILL SELL THE SOVIET UNION ONE POINT TWO MILLION TONS OF WIDE-DIAMETER STEEL PIPES. THIS IS THE LARGEST SINGLE ORDER THE WEST GERMAN STEEL INDUSTRY HAS OBTAINED.

    A CONSORTIUM OF 17 WEST GERMAN BANKS, HEADED BY THE DEUTSCHE BANK, WILL GIVE THE SOVIET UNION CREDIT OF UP TO 1-THOUSAND 5-HUNDRED MILLION MARKS (ABOUT 165-MILLION POUNDS STERLING) TO PAY FOR THE PIPES. TO COVER THE LOAN THE SOVIET UNION WILL START SUPPLYING WEST GERMANY WITH 500-MILLION CUBIC METRES (654-MILLION CUBIC YARDS) OF NATURAL GAS A YEAR FROM SIBERIA ABOUT THE END OF 1972. THE SUPPLY WILL LATER BE INCREASED SIX-FOLD AND WILL BE FED INTO BAVARIA BY PIPELINE THROUGH CZECHOSLOVAKIA. THE GAS IS MAINLY FOR DOMESTIC AND INDUSTRIAL USE IN BAVARIA AND THE SUPPLY IS DUE TO BE KEPT UP FOR 20 YEARS.

    THE DELIVERY OF THE STEEL PIPES TO THE SOVIET UNION IS DUE TO START IN THE MIDDLE OF THIS YEAR AND WILL STRETCH OVER TWO YEARS.

    AFTER THEY SIGNED THE DEAL TODAY (FEB 1) THE WEST GERMAN ECONOMICS MINISTER, PROFESSOR KARL SCHILLER AND THE SOVIET FOREIGN TRADE MINISTER, MR NIKOLAI PATOLICHEV, THEY SAID THEY WERE PLEASED WITH IT AND WITH THE GENERAL STATE OF RELATIONS BETWEEN THE TWO COUNTRIES. PROFESSOR SCHILLER SAID THAT BOTH COUNTRIES SAW GREAT POTENTIAL FOR EXPANSION OF TRADE WITH EACH OTHER.

  • Tags

  • Data

    Film ID:
    VLVA1XWTFPUUAST68B0LSU30CHI4X
    Media URN:
    VLVA1XWTFPUUAST68B0LSU30CHI4X
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    01/02/1970
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:39:00
    Time in/Out:
    /
    Canister:
    N/A

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