(Corrects to say deal to be signed next week.)
OAO Novolipetsk Steel, Russian billionaire Vladimir Lisin's steelmaker, plans to sign a $500 million deal with TBEA, China's largest manufacturer of electrical transformers, next week.
The Russian company plans to supply 100,000 tons of electrical steel through 2011, Anton Bazulev, a spokesman for Novolipetsk, said in an e-mailed statement today.
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