Russia’s wealth fund and China’s Haiwei to invest in Russian LPG project

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Russia’s sovereign wealth fund has struck an agreement with Chinese petrochemical company Haiwei to finance a marine terminal in Russia’s Far East to ship liquefied petroleum gas (LPG), Russian state news agencies reported on Wednesday.

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The agreement, which envisages investing 7 billion roubles ($76.5 million) in the project, will be signed ahead of President Vladimir Putin’s visit to China on May 16-17, the news agencies reported.

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