Russian Direct Investment Fund to Announce Infrastructure Deal with Saudi Arabia Thursday

Sputnik, 04.10.2017

MOSCOW, October 4 (Sputnik) - The Russian Direct Investment Fund (RDIF) and several Middle Eastern funds, including Saudi Arabia's sovereign wealth fund, will make public the main conditions of the financing of investments in transport infrastructure in Russia during Saudi King Salman Al Saud’s Thursday Moscow visit, the RDIF said.

"RDIF and Middle Eastern funds, including the sovereign wealth fund of Saudi Arabia, is planning to announce the main conditions for participation in the capital of the United Transport Concession Holding, set up by RDIF and the Leader Management Company to carry out investment project on construction and maintenance of highways and railroads, city transport, including using mechanisms of state-private partnership, on the territory of Russia," the Russian fund said in a statement.

According to the statement, the agreement will be signed during the visit of the Saudi king.

The sides are currently working on three large infrastructure projects, including a stretch of a high-speed toll road, design, construction and maintenance of a highway in Moscow and maintenance of a light rail line in St. Petersburg.

RDIF and Middle Eastern funds are already involved in financing of rebuilding of a stretch of a highway in Russia, which will be turned into a toll road afterward. The fund is also participating in the construction of two stretches of the Central Ring Road, circling Moscow.

The Saudi king will meet Russian President Vladimir Putin to discuss a number of issues, including the stabilization of the situation in the Middle East. A Russian-Saudi investment forum will be held on Thursday before the meeting of the two states' leaders, with more than 200 Russian and Saudi companies expected to attend the event.