RDIF and Israelis co-invest in joint agricultural projects
Moscow, March 9, 2017 – The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and the Israeli agro-integrator LR Group have agreed to co-invest in dairy farming and milk processing in the Russian Federation. During the first phase, joint investments by RDIF and LR Group will total $100 million, and the parties are already analyzing the most promising regional projects. The proposed agreement is ready for signing.
Russian and Israeli cooperation in the agricultural field was identified as a priority during the working visit of Israeli Prime Minister Benjamin Netanyahu to Moscow and his meeting with President of the Russian Federation Vladimir Putin. Experts from the Ministries of Agriculture of Russia and Israel met prior to the visit.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), noted:
“We will focus our joint search for attractive investment opportunities in the dairy sector, an area in which many of RDIF’s international partners have shown interest. The efficiency of the domestic agribusiness will be significantly improved by the participation of our Israeli partners and through the use of innovative technologies and best global practices.”
Ami Lustig, CEO of LR Group Israel, said:
“Today, the Russian government is providing unprecedented financial support for the development of the dairy sector. Israel is a recognized world leader in the dairy industry. Adaptation of the best technologies and creation of vertically integrated regional dairy clusters will significantly increase milk production. We understand the importance of this work to ensure Russia's food security and appreciate the professional experience of RDIF in international projects.”
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru
LR Group – since 1985, the Group has been implementing turnkey projects using a holistic approach and complex solutions: concept development, technology, design, financing, construction and management of medium and large-scale projects. More than 3,000 employees and experts work in different regions of the world. Implemented more than 400 successful projects with the total value of more than a billion dollars. High level of competence in the field of agriculture and agro-integration. http://lr-group.com/
For additional information contact:
Russian Direct Investment Fund
Director of External Communications
Tel: +7 495 644 34 14, ext. 2141
Mobile: +7 964 726 17 73
Andrew Hayes / Yulianna Vilkos
Tel: +44 (0) 20 7796 4133