Russia, Japan and China will sign a $1.06 billion contract for construction of a chemical complex in Russia's republic of Tatarstan, at a summit of the Asia-Pacific Economic Cooperation (APEC) organization in Yokohama, Japan on November 13-14, Russian presidential aide Sergei Prikhodko said on Tuesday.
"A high-profile international Russian-Japanese-Chinese contract is expected to be signed," Prikhodko said ahead of Russian President Dmitry Medvedev's visit to the APEC summit.
The complex will produce ammonia, methanol and granulated carbamides. The contract will also provide for an upgrade of current production of ammonia nitrate in the region.
"It is planned that the contract will be signed between Russia's Ammony company and an international consortium including Japan's Mitsubishi Heavy Industries, Japan's Sojitz Corporation and China National Chemical Corporation (ChemChina)," he said.
"The project will be financed with the help of a syndicated loan from Vnesheconombank and the Eurasian Development Bank, which will be refinanced by Japan Bank for International Cooperation and Sumitomo Mitsui Banking Corporation," Prikhodko said.
MOSCOW, November 9 (RIA Novosti)
