Russia gives go-ahead to eight joint projects with China

08:18, June 25, 2010      

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Eight Russian-Chinese joint projects have been approved by the Russian Ministry for Regional Development, Russian business daily Vedomosti reported Thursday.

Russia will spend 376.6 billion rubles (about 12 billion U.S. dollars) on the projects. Of this sum, 12 percent will be paid directly from Russia's federal budget, the rest will be invested by the projects' private developers.

The eight projects include a coal deposit in sub-polar Chukotka peninsula; an industrial zone in Trans-Baikal territory; a wood-working plant in Sakhalin region; drinking water factory in Irkutsk; two recreational zones - one in Buryat Republic and the other on the Amur River (Heilongjiang River) Island near Khabarovsk; a railway bridge over the Amur River (Heilongjiang River); and a thermal power plant in Amur region.

In 2009, Russia and China agreed with a list of some 200 joint projects to be developed in their common border regions. Ninety-four of them will be developed on the Russian side, the rest in China.

The particular investment agreements will be signed this fall during a visit of Russian President Dmitry Medvedev to Beijing.

However, experts were cautious about the projects, the newspaper wrote. Chinese investors might be wary about a return on their money and they were interested in importing raw materials from Russia rather than processing them in Russia, experts said.



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