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China to build $2 billion refinery in Russia

Chinese company is planning to build a refinery in Russian land in order to further strengthen their political ties in face of the United States and Europe. The project is jointly led by China’s company Qin Hua An Tszyu and Russia’s Tuymaada-Oil. The refinery will have the production capacity of 2 million tonnes. More detailed discussions on the project are to be held in May when the Chinese company would send a team of export to Yakutia in Far East Russia.

“The investment volume, the term, shares in the joint venture will be discussed in detail in Yakutsk,” the report said.