RDIF, Italy's Feretti agree on joint investment in civil marine production technology in Russia

Interfax, 25.10.2018

MOSCOW. Oct 25 (Interfax) - The Russian Direct Investment Fund (RDIF) and Italian company Ferretti have agreed to jointly implement investment projects in Russia, the RDIF said in a press release.

The partners "will put considerable emphasis on research and development work with carbon fiber and advanced composite materials," the RDIF said.

The agreement was signed on Wednesday in the presence of Russian President Vladimir Putin and Italian Prime Minister Giuseppe Conte.

RDIFand Ferretti intend to set up a joint venture to localize the production of specialized vessels with hulls made from composite materials, steel or aluminum in Russia. These vessels are used for search and rescue operations, patrolling, sanitary-epidemiological inspections, combating crime and combating terrorism.

"We are happy to partner with world-leading shipbuilder Ferretti, our joint efforts will contribute to the localization, in Russia, of not only advanced production technologies, but also high-quality research expertise. Using the expertise of Russia's scientific and engineering institutions, we see an opportunity to create a world-class project in the country, which can be integrated into the global market. The renewal of the fleet of specialized and recreational vessels in Russia will also significantly improve the security situation on the water and in coastal areas," said RDIF head Kirill Dmitriev.