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Russian company clinches deal with China's green technologies center

This is the first time when a Russian company makes such an agreement with the Chinese technology center

MOSCOW, May 3. /TASS/. Eurasia Development has concluded a strategic agreement with the China’s Belt and Road Environmental Technology Exchange and Transfer Center (B&RETTC), the Russian company’s press service told TASS.

This is the first time when a Russian company makes such an agreement with the Chinese technology center. Further to the entry of Chinese technologies on new markets, the agreement will have the second stage of joint efforts for reaching the global level and green financing to be raised from Chinese funds for Russian company, the press service of Eurasia Development said.

Russian majors, such as Norilsk Nickel, Uralchem, Sibur and others, can be interested in such technologies, a source in the industry told TASS.

"These are exactly the companies having bonds in China and the ones that can potentially enter the Chinese market," the source noted. Meanwhile, Eurasia Development forecasts that cooperation between Russia and China in the sphere of cutting-edge environmental technologies may reach three - five trillion rubles ($37.64-62.73 bln).

The China’s course of building up investments in green technologies opens new opportunities for the Russian business, CEO of Eurasia Development Andrey Prokhorovich said. The concluded agreement will be "the starting point for the significant expansion of the flow of yuan-denominated investments in in-house looking-forward developments of domestic companies," the chief executive added.

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