RDIF drives further effective partnerships in APEC
Da Nang, November 11, 2017 – the Russian Direct Investment Fund (RDIF) announces that it is further driving the development of effective cooperation and new projects with partners from APEC countries.
During the APEC Summit, held in Da Nang, Vietnam, the CEO of RDIF, Kirill Dmitriev, played an integral role in meetings between heads of states and members of the APEC Business Advisory Council. Mr. Dmitriev was also a participant in bilateral meetings between Russian President Vladimir Putin and the leaders of Japan, Vietnam and China. These meetings examined trade, the development of economic cooperation, as well as mutual investments and joint projects. RDIF’s experience in building successful investment partnerships was positively assessed and it was decided to leverage this more actively in developing bilateral relationships with APEC partners.
Kirill Dmitriev, Chief Executive Officer of RDIF and Russian representative to the APEC Business Advisory Council, said:
"APEC member countries have accumulated considerable industrial, technological and investment potential, the joint realization of which contributes significantly to global economic growth and stability. Today, we need tools and mechanisms that can eliminate barriers and increase the effectiveness of cooperation. A key tool, which has been actively employed by RDIF, is joint investment and the creation of investment partnerships. Through this, we have increased the volume of projects jointly implemented with APEC partners by nearly half in the last year alone, with a corresponding value in excess of $7 billion. Following the Summit, we will increase this to $10 billion in the near future.”
RDIF is actively engaged in initiatives and joint investments in the below countries:
China: active work continues within the framework of the Russia-China Investment Fund (RCIF; established by RDIF and China Investment Corporation), with 19 projects totalling more than $5 billion being currently implemented. RDIF and CIC have increased the capital of RCIF by $1 billion, which has opened the way for new transactions, including investing in NIO electric vehicles. To simplify direct investment in national currencies, RDIF and China Development Bank are preparing to launch a yuan-based Russia-China Investment Cooperation Fund, the volume of which will amount to the equivalent of $10 bn.
Japan: the Russia-Japan Investment Fund (RJIF), established by RDIF and Japan Bank for International Cooperation (JBIC), has been launched. The fund has made its first investment, and has received approval to participate in a number of Russian projects.
Singapore: RDIF, together with Singapore Changi Airports International (CAI) and Basic Element, have invested with Singapore’s Changi in Vladivostok International Airport and are implementing its development program. Joint projects with other potential partners are also under development.
Vietnam: development work is continuing on prospective projects under the framework of the Russian-Vietnamese investment platform, which was established in cooperation with State Capital Investment Corporation (SCIC). An agreement has been reached with TH Group regarding implementing joint investments in agricultural projects in the territory of Russia, including in dairy cattle breeding and milk processing industries in the Russian Far East.
Thailand: the partnership with the agro-industrial conglomerate C.P. Group is under development, with the total value of projects in Russia exceeding $2 billion. The parties are carrying out projects for the development of dairy cattle breeding in Ryazan Oblast, poultry breeding in Leningrad Oblast, and the construction of a biowaste plant in Kaliningrad Oblast.
USA: TheHyperloop project, which also involves the Dubai port operator DP World – RDIF strategic partner in the Middle East – is progressing successfully. US investors have participated in the majority of share placements for Russian companies. These share placements have been supported by RDIF, including En+ and Globaltruck. RDIF also sees the potential for development of joint projects with US investors.
Australia: the Tigers Realm Coal project on Chukotka is being jointly developed, an includes Australian partners. Coal production and exports began this year, and 159,000 tons of coal have been sold and transported so far.
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
For additional information contact:
Arseniy Palagin Andrew Hayes / Elena Garside
Russian Direct Investment Fund Hudson Sandler
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