(Yicai Global) Jan. 25 -- Tatarstan President Rustam Minnikhanov spoke with senior China National Machinery Industry Corp. (Sinomach) executives about petrochemical and agriculture collaborations in Davos, the Russian republic reported on its website.

"They talked about possible localization of the facilities for the production of tractors in Tatarstan or the production of components for tractors at one of the regional industrial sites," the report said.

The two parties discussed working together on oil refining and talked about the prospect of Sinomach building an ethylene plant in Tatarstan.

As one of the world's 500 largest companies, China National Machinery is an equipment manufacturer and project contracting firm.