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Ministry of economic development of the Russian Federation

Russian fund, Saudi partners sign agreements worth $2.1 billion

07.10.2017

The Russian Direct Investment Fund (RDIF) during the visit of Saudi Arabia’s King Salman bin Abdulaziz Al Saud to Moscow signed agreements worth $2.1 billion, the Fund’s Director General Kirill Dmitriyev told TASS after the negotiations.
"The final sum of attracted investments in the economy may be much bigger, as the Fund per one ruble of own assets attracts an average of nine rubles from co-investors, partners and banks," he said.
The Russian Direct Investment Fund with partners from Saudi’s Public Investment Fund (PIF) organizes for investments in the energy projects a fun of one billion dollars and a fund of one billion dollars for investments in technology projects.
Besides, the Saudi Fund will invest 100 million dollars in Russian infrastructure projects on the basis of the public-private partnership, including a project to build in Moscow a road parallel to Kutuzovsky Prospect and a light metro line in St. Petersburg.
The first-ever official visit of the Saudi Arabian king to Russia will finish on Sunday, October 8. The visit was a result of closer positions of the world’s two biggest oil exporters and producers, the relations between which historically have been chilly.
Many experts say, the success of the Saudi Arabian king’s visit will open the door for Saudi Arabian billions in investments in the Russian economy, which has been deprived of a part of foreign investments under the anti-Russian sanctions from the European Union and the US.
"During the visit, we have worked on a few potential agreements, which now are at an advanced stage and may be announced within months," head of the Russian fund said.

Source: TASS



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