Monday, September 12, 2005

RIA Novosti - Business - Russia could help Vietnam develop nuclear power

RIA Novosti - Business - Russia could help Vietnam develop nuclear power

MOSCOW, September 12 (RIA Novosti) - Russia may contribute to creating nuclear power in Vietnam, Russian Deputy Foreign Minister Alexander Alexeyev said in an article published on the ministry's official Web site.

The energy sector is a key element of Moscow's cooperation with Hanoi, Alexeyev said. The joint Russian-Vietnamese oil company Vietsovpetro accounts for more 60% of oil extraction in Vietnam. In 2004, the company extracted more than 12 million metric tons of crude.

Russia has contributed to the construction of numerous power stations in the country and is currently working on the modernization of a Vietnamese thermal power plant and the construction of a hydro-electric power station. Russian companies have also won tenders for the delivery of equipment to the Vietnamese energy industry.

Russian-Vietnamese trade turnover could exceed $1 billion this year, Alexeyev said.

There are 45 ongoing investment projects with partial Russian funding. The Russian automotive companies KamAZ and UAZ build heavy goods and off-road vehicles in Vietnam and Vietnamese airlines are using Russian Antonov aircraft. Military and technical cooperation between the two countries is also on the rise.


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