ANKARA: Russia and Turkey signed on Wednesday a $20 billion project for Moscow to build and own a controlling stake in Turkey’s first nuclear power plant, as the two countries try to cement a strategic partnership, reports Reuters.

Several agreements, including removing visa restrictions and shipping oil products from the Black Sea, were struck during a landmark visit by Russian President Dmitry Medvedev to Turkey, aiming to turn itself into an energy hub for European supplies. Russia has built nuclear power plants in nations from China to Iran and might build a power plant in Syria.

Nuclear agency chief Sergei Kiriyenko said state-controlled building group Atomstroiexport will lead construction of the plant on Nato member Turkey’s southern coast.

“It’s an extremely important contract for us,” Kiriyenko told journalists.

Turkey is keen to reduce its dependence on imported energy and cover a looming power shortfall. Russia provides 60 per cent of Turkey’s gas needs, which has raised concerns that Turkey is becoming too dependent on Russia, a major trading partner.

Such deals would have been inconceivable two decades ago, when Turkey guarded Nato’s eastern borders during the Cold War.

However, seeking to balance its West-facing foreign policy, Turkey has strengthened relations with Russia and other Central Asian countries in the past years.