It is reported that UkrMontazhSpetsBud a Ukrainian based state-corporation for assembly and special construction work plans to hammer out a strategy for participating in the construction and attraction of Chinese investment under medium-term contracts in Ukraine jointly with Chinese Sinohydro Corporation Limited.

As UkrMontazhSpetsBud said in a press release, the decision was passed at a meeting between UkrMontazhSpetsBud President Mr Oleksiy Luhanov and delegates of the Chinese corporation led by its CEO Mr Zeng Xingliang which took place in Kyiv on December 19, 2010.
According to the press release, the sides agreed to set up an ad hoc group which will take care of further development of partnership relations. The press release quotes Mr Luhanov as saying "Within the shortest time possible, we'll check the opportunities of joint participation of our companies in the construction and attraction of Chinese investment under medium-term contracts."

During their next meeting whose date has not been disclosed, the sides may set up a joint venture to implement projects in Ukraine.

Mr Xingliang said "Our main task is to look for reliable strategic partners and projects whose value is between USD 100 million to USD 500 million. He also said that the Chinese corporation is interested in the participation and development of Ukraine's construction market, in particular, in infrastructure projects with the engagement of own investment.”

Mr Xingliang also disclosed plans to open an office of Sinohydro Corporation Limited in Kyiv in order to study projects in detail and look for a reliable strategic partner which in their opinion could be UkrMontazhSpetsBud.

Mr Luhanov in turn said that UkrMontazhSpetsBud's major task now is to consolidate efforts in the development and construction of infrastructure facilities, fuel and energy complex, health care facilities and large social-oriented projects in Ukraine.

(Sourced from Interfax)