Russia to present billions-worth joint projects to China

07:39, 21 August 2020 104
Photo: ChinaFotoPress/Global Look Press

The interdepartmental working group of the Russian part of the secretariat of the Russian-Chinese intergovernmental commission on investment cooperation considered two new projects for joint implementation with Beijing at a meeting on August 19, TASS reports referring to the Russian Ministry for Economic Development.

The total value of the projects is $10 billion.

The meeting was presided by Pavel Snisorenko, director of the department for analytical support of foreign economic activity of the department.

The meeting also brought together the representatives of federal and regional executive authorities, the Bank of Russia, the Russian-Chinese Investment Fund (RCIF), and businessmen.

The participants considered two projects: the construction of a gas processing complex to refine ethane-containing gas near the Ust-Luga settlement in Russia's Leningrad Region and the creation of a Russian-Chinese insurance company. reported earlier that Sweden froze part of aid to Belarus.