Russia is ready to invest at least $200 million in a joint project with investors from Abu Dhabi to build a major airport in Cuba that will serve as a hub for Latin America, The National newspaper has reported.
In an exclusive interview with the UAE-based newspaper, Russian Trade and Industry Minister Denis Manturov said talks were held this week in Abu Dhabi with strategic investment company Mubadala.
The project could also include redeveloping a port and building a railway line, according to the report.
"We are deeply involved in these negotiations," said Manturov, who leads a delegation of Russian arms manufacturers at the Idex military exhibition. "Cuba is developing a transport hub from the seaport and a railway to the airport."
"They have only one international airport and they are planning to use one of the ex-military bases to build a big airport hub for Latin America," the Russian minister added.
A spokesman for Mubadala said: "The company is regularly reviewing a number of different investment opportunities with its Russian partners."
In October last year during the meeting of an intergovernmental commission of Russia and the United Arab Emirates in Moscow, Manturov announced plans to complete the necessary procedures to open a trade representation in Abu Dhabi by 2015.
The trade representation will be tasked with implementing trade, industrial and investment projects of Russian companies on the territory of the UAE, Manturov said. The minister said joint projects in third countries, including the plans for creating a major transport hub in Cuba, were being developed, without giving further details.
First published by TASS.
All rights reserved by Rossiyskaya Gazeta.
to our newsletter!
Get the week's best stories straight to your inbox