RDIF, Marubeni and AEON agree to jointly develop a methanol production project
Moscow, 26 May 2018 – The Russian Direct Investment Fund (RDIF, the sovereign fund of the Russian Federation), Japan’s Marubeni Corporation and AEON Infrastructure Corporation have established a cooperation agreement within the framework of which they plan to jointly develop a methanol production plant and the creation of a chemical cluster in Volgograd. A corresponding agreement was signed today in presence of the Russian President Vladimir Putin and the Prime Minister of Japan Shinzo Abe.
The project involves the construction of a plant with an annual capacity of 600-1,000k tons of methanol and with favorable logistics for the transportation of finished products, including for export markets in Western Europe and Turkey. The plant has initial access to guaranteed gas supplies of 1bn m3 per year with a potential increase in supply of 2-2.5 times that level.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
"Marubeni Corporation has extensive experience in trading, marketing, designing, arranging financing and supplying modern equipment for chemical plants. The partnership with Marubeni will ensure the project has successful sales of products on world markets for decades to come."
Roman Trocenko, Chairman of the Board of AEON Infrastructure Corporation, said:
"The pilot project for the production of methanol in cooperation with RDIF and Marubeni Corporation brings wide range of opportunities for the implementation of a number of our new projects to develop Russian industrial and transportation sectors involving Japanese capital and advanced technologies."
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
Marubeni Corporation - one of the largest industrial and trade conglomerates in Japan with assets in a number of sectors of industry and commerce, including food, textile, chemical, mining, transport and logistics, construction and finance.
AEON Infrastructure Corporation - a large private international investment and industrial group that implements long-term, integrated projects in the fields of industry, transport, construction and service.
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Hayes / Andrew Leach
Tel: +44 (0) 20 7796 4133