Russia is to build and supply a $1 billion uranium enrichment plant in China, Russia's nuclear chief said on Friday. The deal will be signed during Russian President Dmitry Medvedev's state visit to Beijing which begins on Friday, said Sergei Kiriyenko, the chief of the Rosatom state nuclear corporation.
"The value of the contract which will be signed today is more than $1 billion," Kiriyenko said. "The Chinese market is very attractive and we are trying to enter it in two ways, not only by supplying fuel but also investing in local production," said Kiriyenko.
Russia has created a giant, state-controlled nuclear company called Atomenergoprom that encompasses the full spectrum of nuclear energy, from research to mining to enrichment to power output. It also builds nuclear facilities abroad. A member of the Russian delegation travelling with Medvedev said the agreement was designed to facilitate further investment in China, already an importer of enriched Russian uranium.
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