The Russian Direct Investment Fund (RDIF) and OJSC Russian Grids have signed a Memorandum of Cooperation
Press release, 21.06.2013
St. Petersburg, June 20, 2013 - The Russian Direct Investment Fund (RDIF) and OJSC Russian Grids have signed a Memorandum of Cooperation at the St. Petersburg International Economic Forum. The document was signed by Oleg Budargin, CEO of OJSC Russian Grids, and Kirill Dmitriev, CEO of the RDIF.
The partnership’s goal is to attract investment into the Russian power grid sector with a particular focus on foreign investment. The RDIF and Russian Grids will work together to improve investor understanding of the sector’s opportunities, to make the case for investment in long-term infrastructure projects in the utilities industry and to explore funding mechanisms, including public-private partnerships, to support the Russian Grids Group’s investment programme.
Russian Direct Investment Fund (RDIF) was established in June 2011 to make equity investments primarily in the Russian Federation. RDIF’s management company is a 100% subsidiary of Vnesheconombank. In each investment it makes, RDIF is mandated to secure co-investment that as a minimum matches its
commitment, thus acting as a catalyst for direct investment into the Russian economy. Further information at rdif.ru
Open Joint Stock Company Russian Grids (OJSC Russian Grids) is the largest Russian utility company responsible for power supply and distribution. OJSC Russian Grids’s assets include shareholdings in 42 subsidiaries and affiliates, including 16 interregional and regional grid companies. The Russian state is the largest shareholder, owning 61,7% of share capital. On June 14, 2013 the Russian state’s shareholding in OJSC Federal Grid Company UES was transferred to Russian Grids which was the final step in the restructuring of the management system for main and distribution electrical grid assets.
For more details please contact:
Press secretary, RDIF
Mobile: +7 964 726 1773