Russian industrial conglomerate Rostec and Chinese coal producer Shenhua Group have agreed to jointly invest as much as US$10 billion to explore coal deposits in Siberia and the Far East of Russia, develop transport infrastructure and build generating capacities and high-voltage transmission lines for exporting electricity to China, according to an announcement.
The CEO of Rostec, Sergey Chemezov, and Shenhua’s chairman Zhang Yuzhou signed a memorandum of understanding on September 4 during the former’s visit to China.
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