Russia and China to sign $1b uranium plant deal

Beijing: Russia will build and supply a $1 billion uranium enrichment plant in China, Russia's nuclear chief said on Friday.

The deal will be signed during Russian President Dmitry Medvedev's visit to Beijing, which begins on Friday, said Sergei Kiriyenko, chief of Russia's nuclear corporation.

"The value of the contract which will be signed today is more than $1 billion," Kiriyenko said.

"The Chinese market is very attractive and we are trying to enter it in two ways, not only by supplying fuel but also investing in local production," said Kiriyenko.