September 17, 2019 / 1:39 PM / a month ago

Russia and China to finance gas project in Russia's Far East - VEB bank

MOSCOW, Sept 17 (Reuters) - Russia’s state development bank VEB said on Tuesday it had agreed financing of a natural gas project in Nakhodka town in Russia’s Far East with China’s state development bank.

The plant would produce methanol and nitrogen fertilisers, using gas from fields in Sakhalin island, VEB said.

The Chinese bank was expected to invest in building the plant, which would start this year, VEB said in a statement.

Reporting by Polina Ivanova; Writing by Maria Tsvetkova; Editing by Edmund Blair

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