Chinese and Russian companies to invest $1.3 billion into implementation of large energy project

Russia and China will create the energy company Menglan Sinhe, which will be responsible for the construction of a complex for processing, storage and transportation of oil products Amur-Heihe. Three Chinese companies and a Russian one will invest 7.76 billion yuans ($1.26) in its construction.

As the Committee of Border Economic Cooperation Management of Heihe (Heilongjiang Province, Northeast China) reported, according to the plan, the Russian company will begin the construction this year, and the Chinese party - in May of the next year. According to agreements, the Russian side will be responsible for the creation of the Amur refinery, the starting point for the crude oil transportation in the Amur region and oil pipelines in Russia; China will build pipelines on its territory and an oil terminal in Heihe.