RDIF, Russian Railways International and Ircon International Limited agree joint implementation of railway investment projects

Press release, 01.06.2017

Saint Petersburg, 01 June 2017 – The Russian Direct Investment Fund (RDIF), Russian Railways International LLC, alongside the Indian state engineering and construction company Ircon International Limited have agreed to jointly identify and invest in investments into railway infrastructure projects in Russia and India in order to improve commercial, economic and investment cooperation between the two countries. The relevant agreement was signed today as part of the Saint Petersburg International Economic Forum.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“Partnership with Ircon International will allow RDIF and Russian Railways to expand investment geographies and gain access to attractive new markets in Asia. We will also leverage the knowledge and experience of our local Indian and Russian partners to implement attractive projects.”

Sergei Pavlov, CEO of RZD International LLC, said:
“It is planned to create a joint working group to work out possible schemes for the implementation of investment projects, based on the international experience of RZD International and IRCON with the financial assistance of RDIF.”

Sunil Kumar Chaudhary, Chairman & Managing Director of IRCON, said:
“Cooperation of IRCON with Russian Railways and RDIF will open up new vistas and opportunities in the Railway sector for the Partners. Their Global experience and combined expertise will create synergy for efficient project implementation”

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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

RZD International LLC is a specialized engineering company established within the framework of the Russian Railways holding to centralize the functions of strategic planning of foreign economic activity and operational management of infrastructure projects abroad. To date, the company can offer the whole range of services and technologies in the field of railway construction from the initial stage of design and development of the project to its subsequent implementation on a turnkey basis to a potential customer in any country in the world. Further information can be found at www.rzdint.ru

Ircon International Limited established in 1976, is an Indian Government owned company under the Ministry of Railways, based in New Delhi. It is one of the leading construction companies engaged in Infrastructure development both in India and abroad and has several landmark projects to its credit. The details of the company are available at www.ircon.org

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