BUSINESS

Ecuador Seeks Russian Support for Infrastructure

Bloomberg

MOSCOW — Ecuador seeks Russian financial and technical support to overhaul its energy industry and for road-building and hydropower projects, President Rafael Correa said in Moscow on Thursday.

“In all these strategic projects Russia could offer enormous support thanks to its technological capacity and its capacity to provide financing,” Correa said during a meeting with his Russian counterpart, Dmitry Medvedev.

Medvedev and Correa agreed Thursday to give a “new impulse” to cooperation in oil production, nuclear energy, agriculture and defense.

Energy Minister Sergei Shmatko said that Inter RAO UES, Russia’s largest electricity exporter, seeks to build two hydropower plants of 200 megawatts and 400 megawatts in Ecuador.

Rosatom Corp., Russia’s nuclear energy holding company, will explore uranium and other natural resources in Ecuador under Thursday’s intergovernmental agreement on peaceful uses of nuclear energy, the company’s Deputy Chief Executive Officer Ivan Kamenskikh said in an interview.

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