RDIF, SME Investments and ICA agree on joint implementation of energy industry projects
Press release, 24.10.2017
Erevan, October 24, 2017 – The Russian Direct Investment Fund, SME Investments and The Investors Club of Armenia (ICA) have agreed to jointly search for and implement attractive investment projects to develop the electric power industry of the Republic of Armenia, as well as create mechanisms for bilateral investment cooperation in this region.
The agreement was signed today within the framework of the working visit of the Russian Prime-Minister Dmitry Medvedev to the Republic of Armenia.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RFPI), said:
"RDIF has extensive experience in creating working mechanisms for co-investment with the world's leading funds, as well as experience in implementing complex projects in the energy sector. All of this experience will enable us to efficiently structure attractive investment projects in Armenia, and attract both Russian companies and RDIF’s important international partners."
Artur Badalyan, Executive Director of SME Investments said:
"This Memorandum of Cooperation is a logical continuation of the Memorandum of Intent signed on March 15th, 2017 in Moscow between the Russian Direct Investment Fund and SME Investments, where investment projects were jointly considered. This tripartite memorandum, involving private investors, aims to implement joint investment projects in the energy sector.This is considered to be a priority for the Armenian economy and will deepen cooperation with the aim of financing integration projects."
Paruyr Amirjanyan, CEO of Fora Capital, managing company for the investment fund "Investors Club of Armenia", said:
"The Fund's strategy is to invest in promising and sustainable sectors of the Armenian economy, using a diversified approach to possible sources of co-financing of its long-term projects, attracting partners from different countries. The agreement with RDIF is fully-aligned with this vision."
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
SME Investments is a state company which was created in 2009 within the framework of the “Crediting of economic stabilization” program. Within the framework of state-private cooperation, the credit organization contributes to the development of industries that are of strategic importance for the Armenian economy and to the uniform development of the regions of the Republic of Armenia. It promotes the export of goods, creation of new jobs, and also provides financial support by lending, issuing guarantees and providing other financial support. For more information, please visit: www.smeinvest.am
Investors Club of Armenia investment fund is the first closed nonpublic contractual investment fund in Armenia established by the initiative of the president and founder of the "Tashir" group of companies, Mr. Samvel Karapetyan. The mission of the Fund is to mobilise reliable investors and build a reliable and stable investment platform in Armenia through which investors can contribute to the growing local economy and receive steady returns. Additional information is available at www.investorsclub.am
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
“SME Investments’’ UCO CJSC
Head of Financial Credit Department
Tel: +374 60 506556, +374 10 708020
Mobile: +374 77 133 133
“Fora Capital” LLC, the managing company of the “Investors Club of Armenia” closed-end contractual nonpublic investment fund
Head of Financial Department
Tel: +374 60 744 014