BEIJING, Aug. 12 (Xinhua) -- China Railway Construction Corporation (CRCC) has recently inked a contract with Russian Irkutsk Oil Company (INK) on the construction of the first phase of the company's chemical plant infrastructure project, with a total contract value of 6.954 billion rubles(approximately 614 million yuan).
This project is the first project undertaken by CRCC in federal district of Siberia, Russia, and it also marks the highest latitude project implemented by CRCC.
The project content encompasses an office complex and a logistics park in the chemical plant area.
The project owner INK is one of Russia's large oil companies, whose main business includes exploration, exploitation, processing of petroleum and hydrocarbons.
After the project is completed, it will provide high-density and low-density polyethylene products with an annual output of 650,000 tonnes.
These products will be sold to China and Community of Independent States(CIS)countries.
Prior to this, CRCC successfully entered into many areas such as subways, highways, and general contracting of housing construction in Russia, forming a development pattern with multiple supports.
(Edited by Bao Nuomin with Xinhua Silk Road, baonuomin@xinhua.org)
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