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Sunday, October 31, 2010

Vietnam, Russia ink nuclear power plant deal

HANOI - RUSSIA and Vietnam on Sunday signed a deal worth an estimated US$5.6 billion (S$7.2 billion) for the energy-hungry Southeast Asian country's first nuclear power plant.

Russian President Dmitry Medvedev witnessed the signing, part of an effort to boost ties with his country's former Soviet-era communist ally. 'This is a very important project,' he told reporters after the ceremony.

'The fact that we are the first to start gives us a good competitive advantage,' Mr Kiriyenko said, adding Russia will be keen to win more deals at a later stage.

Vietnam wants to build eight nuclear facilities in the next two decades. LINK

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