Putin's China visit to produce deals worth 5.5 billion dollars

Putin's China visit to produce deals worth 5.5 billion dollarsBeijing  - Deals valued at some 5.5 billion dollars are expected to be signed during Russian Prime Minister Vladimir Putin's three-day visit to China, scheduled to begin late Monday, Russian and Chinese media said.

China and Russia would sign more than 20 agreements worth 5.5 billion dollars during Putin's visit, mainly covering cooperation in energy, transportation and banking, Moscow newspaper Nesawissimaja Gaseta reported.

Chinese state media said an agreement was possible on building an oil refinery in the northern city of Tianjin between the China National Petroleum Corporation and Russia's Rosneft.

The 21st Century Business Herald said total investment for the Tianjin plant could reach some 400 million dollars by its planned completion in 2012.

Russia's RIA Novosti news agency said the two sides were also expected to sign a deal on gas supplies to China by Russia's Gazprom.

Officials discussed "roadmaps on gas cooperation" at a bilateral energy forum in Beijing on Sunday, the Russian agency said.

Putin would meet Chinese leaders on Tuesday and Wednesday, with an official signing ceremony planned for late Wednesday, China's Foreign Ministry said.

Putin was also scheduled to attend a meeting of the Shanghai Cooperation Organization, a Central Asian security summit, on Wednesday.

His visit was timed to coincide with the 60th anniversary of diplomatic relations between China and Russia.

The Shanghai Cooperation Organization was founded in 2001 to enhance security cooperation between its six member states China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan. (dpa)