Russia's RDIF to participate in new Saudi city project-fund

Reuters, 26.10.2017

RIYADH, Oct 26 (Reuters) - The Russian Direct Investment Fund (RDIF) along with partners plans to participate in building a new Saudi city called NEOM in ventures expected to be worth several billion dollars in total, the fund said.

RDIF and its partners would facilitate participation of leading Russian innovative companies in solar energy, health, and education, artificial intelligence, high-speed transport, and port infrastructure for transshipment of agricultural products, a fund statement said.

RDIF CEO Kirill Dmitriev told reporters at an investment conference in the Saudi capital Riyadh he expected the projects collectively to be worth several billion dollars. (Reporting by Saeed Azhar and Stephen Kalin, Editing by William Maclean)