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Chinese entity to erect glass factory in North Ossetia

Partners from China intend to invest into the real economy of North Ossetia. The Republic's Prime Minister Teymuraz Tsukatev and CEO of Chinese National Electric Engineering Corporation's Energy Department Chzhen Guyin have executed a memorandum of understanding between the Government of the Republic of North Ossetia-Alania and the major energy company. The delegation arrived at Vladivostok at December 18.

The Republic's Ministry of Economic Development hosted a presentation showing the Chinese party's investment initiatives and proposals. The company intends to erect a glass factory and believes it is also possible to invest into the creation of small-scale hydro power plants in the basin of the Urukh River. The foreign partners possess advanced technology and equipment that is necessary to ensure the stable operation of power grids, production of heat carriers and transmission of heat energy in Vladikavkaz. Pursuant to the executed deed, the company undertook to ensure that the facilities to be erected were economically effective to maximally accommodate citizens' needs.

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