Russia is reported to be involved in a project to improve North Korea’s dilapidated power grid and build a new transmission network – a scheme that could cost up to $30bn.
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A source in Beijing told a Korean newspaper that the plan would involve part payment in rare earth metals from North Korea.
The news follows reports that North Korea’s leader, Kim Jong-un (pictured), has accepted an invitation to visit Russia in May for the 70th anniversary celebrations of its World War II victory.
“The North and Russia are discussing a plan whereby Russia will get rare earth metals from the North in exchange for assistance in improving the dilapidated power grid,” a source in Beijing told South Korean English-language newspaper, Chosun Ilbo.
The cost of the project is estimated to be up to $30bn.
Chosun Ilbo reported that the two countries are also talking about ways to divert surplus electricity from Russia’s Far East to North Korea. Russia’s Far Eastern territory dips south around China to touch the far north eastern tip of North Korea.
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