10:58 GMT04 August 2021
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    Chinese billionaire and founder of Alibaba group Jack Ma is interested in investing in a railway in Russia’s Tuva republic, a senator of the upper house of Russian parliament told Sputnik Thursday.

    MOSCOW (Sputnik) — Ma is currently visiting the southern central Russian republic and meeting local youth.

    "This is Jack Ma’s second visit to Tuva. Now his visit is official," Oksana Belokon said, adding that Ma is interested in railway construction investment in the region.

    In May, Tuva Energy Industrial Corporation and China Civil Engineering Construction Corporation signed a memorandum of understanding and cooperation on construction of a railway and a port in Tuva.

    "We shall not say that Jack Ma will finance the project. Memorandum is not an agreement. But he is interested in the project and in Tuva as a whole, as it is expected to be linked to China," Belokon said.

    According to the senator, China is especially interested in the railway as the region is rich in natural resources.

    Founded in 1999, Alibaba group includes online shopping websites Taobao, Aliexpress and Tmall. The company’s revenue for 2014 was estimated at $8.4 billion, according to Google Finance.

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    Tags:
    Tuva, Russia, China, Jack Ma, Alibaba Group, railway, investment
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