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Power of Siberia pipeline construction to start soon

July 09, 2014, 11:17 UTC+3 BEIJING

The project was roughly estimated at $60-70 billion, head of Russian presidential staff Sergey Ivanov says

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© ITAR-TASS/Ruslan Shamukov

BEIJING, July 09. /ITAR-TASS/. Construction of the pipeline Power of Siberia to supply Russian gas to China will start in the near future, Head of Russian presidential staff Sergey Ivanov said on Wednesday at the meeting with students learning the Russian language.

The project was roughly estimated at $60-70 billion, Ivanov said describing signing of the agreement between Russia and China in May “a landmark event”. Cooperation continued in other spheres, he added, in transportation as well as military exercise.

“We are now working out a joint wide-body aircraft and a helicopter with a big load carrying capacity. We have plenty of transport projects, including a highway from China through Kazakhstan to Russia and the Baltic Sea,” Ivanov said. The potential for economic cooperation and trade turnover was big, he added.

The two countries’ military training prompted many question in the West, Ivanov said, adding the exercises did not “violate the international law and were the two countries’ sovereign decision” aimed to strengthen bilateral ties.

The new projects will help achieve the goal of increasing mutual turnover to $200 billion in 2020 against the current figure of slightly less than $100 billion, head of the presidential staff believes.

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