Chinese banks to invest $5 billion in Russia’s Siberia IDGC — source

ST. PETERSBURG, May 22. /ITAR-TASS/. Chinese banks plan to invest up to $5 billion in Russia’s Siberia Interregional Distribution Grid Company (Siberia IDGC) over the next five years, a source at the company familiar with the talks said on Thursday.

The banks plan to invest from $500 million to $1 billion in the company annually, the source said.

Siberia IDGC manages the power distribution system of the Siberian Federal District.