RDIF attracts leading SWFs to invest in the development of Rönesans Holding projects in Russia

Press release, 10.03.2017

Moscow, March 10, 2017 - The Russian Direct Investment Fund (RDIF) has finalized the key terms of cooperation with Rönesans Holding, the construction, real estate development and investment company. RDIF has formed a consortium of the world’s leading sovereign wealth funds to invest in the development of Rönesans Holding's projects in Russia. The consortium will invest in projects in a wide range of sectors in Russia. The corresponding agreement was reached today as part of President of the Republic of Turkey Recep Tayyip Erdogan’s official visit to the Russian Federation. 

The implementation of joint projects with Rönesans Holding will create up to 2,500 jobs at the development stage and over 1,000 jobs at the operational stage. It will significantly contribute to the budget of the Russian Federation through both direct and indirect taxes. 

RDIF and Rönesans Holding are working alongside other investors on opportunities in developing healthcare centers and transport infrastructure, including bridge and toll road construction. 

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:

“We are pleased with the constructive development of cooperation with Rönesans Holding and the ability to bring a number of our leading partners to collaborate on our joint projects. We believe that the combination of expertise of our international partners will significantly increase the effectiveness of the projects under consideration. This will include projects in socially responsible areas, such as the construction of medical centers and infrastructure facilities.” 

Rönesans Holding President Dr. Erman Ilıcak said: 

“I believe this agreement holds a strategic importance for the economies of both countries. We are happy and proud to partner with RDIF.”

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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

Rönesans Holding was established in 1993 by Dr. Erman Ilıcak in St. Petersburg, Russia. Rönesans Holding furnishes services as the main contractor and investor in 23 countries throughout the world. Operating in such fields as construction, real estate development, energy and health, the Holding is the 44th largest international contracting company of the world and the 10th largest contractor of Europe. Further information can be found at http://www.ronesans.com/en

For additional information contact:

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

Andrew Hayes / Yulianna Vilkos
Hudson Sandler
Tel: +44 (0) 20 7796 4133