OPEC to invest $10m in Russian-US enterprise

The Organization of Petroleum Exporting Countries has decided to allocate $10m to create a new Russian-US enterprise in the Southern Ural, the Uralinformbureau agency reported. The US party is also planning to invest $10m. The new joint venture is to produce some medical equipment designed by Russian experts. At the beginning, the number of jobs at this enterprise will be 120 and later it is to amount to 500. OPEC is planning to make the first tranche in May 2003.