RDIF and IDFC to strengthen ties between India and Russia investing up to $1bn

Press release, 11.12.2014

New Delhi, 11 December, 2014 –The Russian Direct Investment Fund (RDIF) and the IDFC Ltd., India's leading financial services company, today have agreed to jointly invest in infrastructure projects to boost economic cooperation between Russia and India. Each party will provide up to $500mln. The agreement was signed during the state visit of Russian President Vladimir Putin to India.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
"We look forward to implementing our future investment plans with IDFC and believe that RDIF will benefit from IDFC’s industry insights and its proven ability to cooperate with its network of portfolio companies in the infrastructure sector. Our partner’s experience in large scale concession agreements specifically in transport infrastructure will be invaluable in addressing Russia’s growing infrastructure needs."

Dr. Rajiv B. Lall, Executive Chairman of IDFC Ltd., said:
"We are extremely happy to partner with RDIF and it is a privilege for us to play such a significant role in the development of ties between Russia and India. Both countries are progressing at a fast pace and infrastructure remains one of the key focus areas. This partnership will enable us to vital projects and deliver on the long term goals. We look forward to leveraging our knowledge and skills in building the infrastructure of Russia and India.”

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Russian Direct Investment Fund (RDIF) was established in June 2011 to make equity co-investments primarily in Russia alongside reputable international financial and strategic investors. Based in Moscow, RDIF’s management company is a 100% subsidiary of Vnesheconombank. Further information at rdif.ru

IDFC Ltd. was established in 1997 as a private sector enterprise by a consortium of public and private investors. Its expertise in the infrastructure sector and strong relationships with government and infrastructure sponsors provides it with a platform for facilitating private investment and public-private partnerships in infrastructure projects in sectors where market structures, government policy and regulations are evolving. Further information at: www.idfc.com

Media contacts: 

Maria Medvedeva 
Russian Direct Investment Fund 
Director, Media Relations Department 
Tel: +7 495 644 34 14, ext. 2141 
Mobile: +7 964 726 17 73 
E-mail: mm@rdif.ru

Hudson Sandler
Andrew Hayes/ Elena Garside
Tel: +44 (0) 20 7796 4133

Piyali Reddy
Sr. Vice President – Corporate Communications
Tel: +91 22 4222 2213
Mobile: +91 9322657983
E-mail: piyali.reddy@idfc.com