Chinese banks to invest $5 bln in Russia's Siberia IDGC

ST. PETERSBURG, May 22 (Itar-Tass) -- Chinese banks plan to invest up to $5 billion in Russia's Siberia Interregional Distribution Grid Company (Siberia IDGC) over the next five years, a source at the company familiar with the talks said on Thursday. The banks plan to invest from $500 million to $1 billion in the company annually, the source said. Siberia IDGC manages the power distribution system of the Siberian Federal District. Learn more on itar-tass.com