China to provide Turkmenistan with grant and interest-free loan

Jan 13, 2004 01:00 AM

China will provide Turkmenistan a grant worth 15 mm yuan and an interest-free loan worth 30 mm yuan for 20 years under an agreement signed by Turkmen Deputy Prime Minister Yelly Gurbanmuradov, who is in charge of the oil and gas complex, and Chinese Ambassador to Turkmenistan Lu Guichen, a source in the Oil and Gas Ministry told.

China in 1998 and 2000 provided loans of 100 mm yuan to finance the purchase of the latest Chinese drilling rigs and lifting systems for Turkmenneft and Turkmengaz.
The new loan and grant will be used to buy equipment and parts for Turkmenistan's gas industry.

Source: Interfax Information Services
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