No surprise as it is part of what China does, and why would it not invest in its closest ally.
Waiting in Sevastopol, Crimea
- Since Crimea became part of Russia, China is the first foreign country looking to invest. In light of Moscow's standoff with the West, this is about much more than money.
By Egro Polov and
6 May 2014
MOSCOW - The first international players interested in investing in Crimea since it became part of Russia are from China.
Kommersant has learned that a Chinese state-owned company and private investment fund are looking to back a $1.3 billion transportation corridor to Crimea over the strait that separates it from the rest of Russia.
It is primarily a political move, sources with knowledge of the negotiations told Kommersant, seen as a demonstration that the relationship between Moscow and Beijing is strengthening in the face of the West’s sanctions against Russia.
The Russian Transportation Ministry is preparing to sign a memorandum with the Chinese companies for the transportation project that would connect Crimea and the Krasnodarsk region of Russia. It’s still not clear what kind of project is on the table - it could be a bridge for rail and automobiles or it could be a combination of a bridge and underwater tunnel.
As a result, China could gain access to other large projects in the region, which some in Moscow worry could lead to Russian investors being shut out of deals.