ST. PETERSBURG, RUSSIA - Russia's electric company Rosseti and China Energy Engineering Corporation have agreed to jointly implement construction and upgrade projects on electrical grid facilities in third countries.

The three-year agreement was signed by the companies as part of the St. Petersburg International Economic Forum, reports TASS.

Under the agreement, the two sides will construct electric power transmission and distribution facilities and other electrical grid facilities in third countries, with an option of providing financing by Energy China, as well as Chinese and international financial institutions.

Source: TASS