Russia Ready to Invest $1.35Bln in Cuba’s Thermal Power Plants

© Sputnik / Taras Litvinenko / Go to the photo bankSimferopol Thermal Power Plant
Simferopol Thermal Power Plant - Sputnik International
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Russian companies are ready to invest 1.2 billion euros ($1.35 billion) in the construction of Cuban thermal power plants, Russian Deputy Energy Minister Anton Inyutsin told Sputnik on Tuesday.

MOSCOW (Sputnik) — Russia and Cuba signed a contract for the construction of the power units in Cuba last year. Under the deal, Russia is expected to be involved in the construction of four 200-megawatt units at two power plants.

"The amount of investments that our companies, with the involvement of credit resources, are ready to make is about 1.2 billion euros," Inyutsin said.

Cuban President Raul Castro, right, lifts up the arm of President Barack Obama at the conclusion of their joint news conference at the Palace of the Revolution, Monday, March 21, 2016, in Havana, Cuba - Sputnik International
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Moscow expects details of the project to be determined "in the near future," Inyutsin added.

Cuba and Russia have enjoyed warm relations dating back to Soviet times. Moscow and Havana currently cooperate closely in energy and civil aviation, and are working on a program to modernize Cuba's power plants.

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