Chinese and Arab Investors to Finance the Construction of Nonferrous Metallurgic Plant in Russia

Construction of the largest nonferrous metallurgic enterprise in Russia will be financed by the businessmen from China and Arab Emirates. The plant will be constructed from scratch in the territory of the existing deposit which for many years has not been developed, the head of the Russian Direct Investment Fund Kirill Dmitriyevhas reported.

"It is very important to replace budgetary funds in national projects with private funds. A project becomes more transparent, more effective, and more advanced", Mr. Dmitriyev added.

The main condition of the investment agreement is that the future plant will supply non-ferrous metals to China. The total amount of investments intothe construction of the enterprise, together with the investments of the third-party partners, will exceed 500 million dollars.

There is a chance that construction of the nonferrous metallurgic plant will become one of the national projects, the Sibnovosti.runews agency reports with the reference to TASS.