16:33 GMT +319 September 2019
Listen Live
    Simferopol Thermal Power Plant

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

    © Sputnik / Taras Litvinenko
    Business
    Get short URL
    4217
    Subscribe

    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.

    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.

    Related:

    Monroe Doctrine Ghosts: Why Washington's Soft Power Does Not Work in Cuba
    Barack Obama: Setting Foot in the Cuban “No-Go” Zone
    Rock Legends Rolling Stones Give Historic Concert in Cuba (VIDEO)
    US Trade Embargo 'Harms All Aspects of Life in Cuba'
    US Congressman Calls for Returning Guantanamo Bay to Cuba
    Lifting of Cuba Embargo Opposed by Minority of US Republican Party Members
    US Congress Could Lift Embargo on Cuba by End of 2016 - Congressman
    Senate May Vote to Lift Cuba Embargo ‘Immediately’ After November Election
    Keys to US-Cuban Normalization: End Embargo & Stop Regime Change Efforts
    US, Cuba Continue to Have Deep Differences on Human Rights – Obama
    Obama's Address to Cuban People 'Speech of Hope'
    Tags:
    thermal power, investments, Cuba, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik