The Russian Direct Investment Fund revealed its intention to start a joint investment with a Chinese company in a project to build the first marine station for transporting liquefied petroleum gas in the Russian Far East.

The Russian sovereign fund said in a statement issued on the eve of Russian President Vladimir Putin's visit to China that it is investing with the Chinese petrochemical company "Haiwei" in the "Remstal" project in the Far East.

The total cost of the project implemented by Remstal is about 30 billion rubles (about 328 million dollars), and the Russian Fund will invest with the Chinese company a value of 7 billion rubles in the project.

The terminal, located in the Russian Far East, will receive liquefied petroleum gas (propane, butane and their mixtures) produced in Russia, then store it, reload it to gas tankers and export it.

The plant targets export markets in China and other countries in the Asia-Pacific region, and the plant will be able to export throughout the year.