BEIJING/KIEV, Dec. 6 – Ukraine's Kyivhydroinvest has signed a memorandum of construction for a deep water port 25 meters deep in Crimea at a cost of $3 billion with China's Beijing Interoceanic Canal Investment Management (BICIM), whose owner Wang Jing has a concession agreement to build a water way to Nicaragua to compete with the Panama Canal.

An Interfax-Ukraine correspondent has reported that that the memorandum was signed by the companies during the Ukrainian-Chinese business forum in Beijing on Thursday, December 5.