Russia's Federal Grid Company (FGC UES) and South Korea's Hyundai will sign a contract on the construction of an electric transformer plant in Russia's Far East, Primorye territory governor Sergei Darkin said on Wednesday.
"The overall investment will amount to several dozen million dollars. It will be a modern plant which will build electric transformers for our country and there'll be a 'smart' nets project to save electricity," Darkin said, adding the contract will be signed during Russian President Dmitry Medvedev's visit to South Korea.
The companies plan to finish the construction of the factory which will create about 300 new jobs in 18 months, he said.
SEOUL, November 10 (RIA Novosti)
