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​Key Russia-China deals

Published time: May 21, 2014 15:10
May 21, 2014. President Vladimir Putin, left, and Chinese leader Xi Jinping during the signing of joint agreements in Shanghai. (RIA Novosti/Alexei Druzhinin)

May 21, 2014. President Vladimir Putin, left, and Chinese leader Xi Jinping during the signing of joint agreements in Shanghai. (RIA Novosti/Alexei Druzhinin)

Russia has secured more than 40 business contracts with China during President Putin’s visit to Shanghai. Top is the $400 billion gas contract, there are also deals in finance, investment, aircraft, and automobiles. Here is RT’s list of key agreements.

1. Russia's Gazprom and China's CNPC signed a historic gas deal worth $400 billion, which will provide the world's fastest growing economy with the natural gas it needs to expand over the next 30 years.

2. The Russian United Aircraft Corporation and China's Commercial Aircraft Corporation COMAC have confirmed plans to build a 400-seat, wide-body, long-range passenger aircraft, a potential rival to Boeing of the US, and Europe's Airbus. The new program aims to become one of the biggest large-scale international cooperation projects in both aviation and high-tech.

3. Russia’s biggest independent natural gas company NOVATEK signed a deal to supply China's CNPC with 3 million tons of liquefied natural gas annually for 20 years from their joint Yamal LNG project in the Russian north. The plans for the Yamal LNG project involve building a plant that can produce 16.5 million tons of LNG annually by 2020. It is slated to start production in 2017 with an initial output of 5.5 million tons of LNG per year.

4. Russia’s second biggest financial institution, VTB, signed a deal with Bank of China to bypass the dollar and pay each other in domestic currencies.

5. SIBUR, a leading Russian gas processing and petrochemicals company, signed a contract with China Petroleum and Chemical Corporation or Sinopec to establish a joint venture for the construction of a nitrile butadiene rubber (NBR) plant to produce 50,000 tonnes a year. Sinopec's share in the joint venture will be 74.9 percent and SIBUR's will be 25.1 percent.

6. Chinese auto maker Great Wall Motor Co. said it is planning to build a car plant in Russia’s Tula region, investing up to $521 million in the project capable of producing up to 150,000 vehicles a year.

7. Russia and China agreed to build the first cross-border rail bridge over the Amur River by 2016. The bridge will cut transportation times and increase trade.

8. Russia's Eurocement signed a number of contracts with companies within the Sinoma, CNBM and Sinomach Groups for the supply of equipment to new cement plants in six different regions of Russia (Leningrad, Ryazan, Bryansk, Arkhangelsk Ulyanovsk and Samara Region). The contracts are valued at more than $500 million.

9. Russia-China Investment Fund (RCIF) and Vcanland, a leading Chinese tourism developer, have agreed to invest $800 million in the development of tourism and social projects. The geographical focus will be on destinations such as Hainan Island, Lake Baikal, and the cities of Vladivostok and Sochi.

Comments (17)

 

Marco Hsiao 28.05.2014 11:07

[Nine items for Sino-Russia cooperation are wonderful]

Maybe a high speed rail system to link Beijing and Xinjiang should be built as soon as possible; and the other high speed rail Moscow - Kazakhstan - Xinjiang should be completed, too.

Possible in the future China will become world center on high speed rail system; and Heilongjiang Province might become significant base for trade between Russia and China. Russia is important ally of China, Sino-Russia trade should be expanded largely.

 

shars 23.05.2014 07:07

Avis71 21.05.2014 16:16

The western elite is quite clever in strategic thinking especially when it comes to making money.

I wouldn't be surprised if this is exactly what they wanted..
Not only for the military purposes, sooner or later this is going to result in WW3 but also for the short term profits although i don't know exactly how that would work i am suspecting there is a mechanism to get rich of this.

  


I doubt it. Russia seems to be stumping the U.S. at every point! LOL Instead of weakening Russia as planned, the West has strengthened Russia. Go Russia and China! Congratulations!

 

Mark Piotrowski 22.05.2014 16:33

Europe, start gathering firewood now, it's gonna be long, cold winter.

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