Russia-Saudi investments exceed $1bn
Press release, 04.10.2017
Moscow, October 4, 2017 — The Russian Direct Investment Fund (RDIF) and the Public Investment Fund (PIF) as part of a $10bn partnership signed in 2015, today provide an update on their investment collaboration.
To date, RDIF and PIF have deployed and agreed to invest more than $1bn in the Russian public markets and in more than 8 private projects across sectors such as petrochemicals, power, logistics, transport infrastructure and retail.
RDIF and PIF are evaluating additional investment opportunities across a range of sectors, including in retail, real estate, alternative energy projects, transportation and logistics infrastructure.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“The Russia-Saudi investment organizations have done a huge amount of work, demonstrating their results oriented approach and high level of expertise. They have established strong relationships with both Russian and Saudi companies.”
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
The Russia-Saudi Investment Fund was established by the Russian Direct Investment Fund (RDIF) and the Public Investment Fund (PIF) to invest in attractive projects primarily within Russia that help to strengthen trade, economic and investment cooperation between the Russian Federation and the Kingdom of Saudi Arabia. Priority investment sectors include food production and agriculture, consumer goods and services, healthcare and pharmaceuticals, innovation and hi-tech, and infrastructure. www.rsifund.com
Public Investment Fund - in March 2015, the Council of Ministers issued a decree to transfer oversight of the Public Investment Fund to the Council of Economic and Development Affairs (CEDA). As part of this process, a new Board was appointed, chaired by His Royal Highness the Crown Prince Mohammad bin Salman Al-Saud.
To help achieve Saudi Arabia’s vision of a sustainable, diversified economy, the Board of Directors has taken several steps to clearly define the Public Investment Fund’s vision, objectives and strategy in line with Saudi Vision 2030.
The Public Investment Fund is developing a portfolio of high quality domestic and international investments, diversified across sectors, geographies and asset classes. Working alongside global strategic partners and renowned investment managers, PIF acts as the Kingdom’s main investment arm to deliver a strategy focused on achieving attractive financial returns and long-term value for the Kingdom of Saudi Arabia.
The Public Investment Fund aims to be a global investment powerhouse and the world’s most impactful investor, enabling the creation of new sectors and opportunities that will shape the future global economy, while driving the economic transformation of Saudi Arabia. More information can be found at: www.pif.gov.sa
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Hayes / Elena Garside
Tel: +44 (0) 20 7796 4133
Public Investment Fund
Media Contact: firstname.lastname@example.org