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. Last Updated: 07/27/2016

China, Russia to Sign Nuclear Deals

BEIJING -- China and Russia will sign agreements to build nuclear power plants and explore for energy and mineral ores when Prime Minister Mikhail Fradkov visits Beijing this month, Deputy Prime Minister Alexander Zhukov said Monday.

The 17 contracts will also cover scientific cooperation and space exploration and should help the two countries boost trade to $60 billion by 2009, Zhukov told reporters in Beijing.

"Our trade was up 25 percent year-on-year so far this year to $30 billion,'' he said. "Our cooperation is going well across the board, especially in energy, oil and gas.''

Atomstroiexport is competing with Areva, Siemens and Westinghouse Electric for $8 billion worth of Chinese orders for four reactors. The world's largest energy consumer after the United States needs at least two new reactors per year to meet a target of almost doubling its proportion of power from nuclear plants to 4 percent by 2020.

China and Russia will also cooperate in space exploration. Anatoly Perminov, chief of the Russian Space Agency, will hold a news conference Thursday in Beijing to sign an agreement with China to explore jointly the moon, according to a Russian Embassy invitation.

Russian Aluminum, or RusAl, will hold a news conference Thursday on cooperation with Chinese aluminum smelters. RusAl's deputy general manager Alexander Livshits will chair the news conference, said an invitation.

Rosneft CEO Sergei Bogdanchikov is scheduled to speak at a news conference Friday in Beijing, the Russian Embassy invitation said. Rosneft will export as much as 48.4 million tons of oil to China by 2010, said a 2004 contract between the two countries.