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

Private Equity Wire, 02.06.2017

The Russian Direct Investment Fund (RDIF), Russian Railways International, 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 as part of the Saint Petersburg International Economic Forum.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), says: “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, says: “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, says: “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.”