BRIEF-Russian sovereign wealth fund in tie-up with Germany's Schaeffler

Reuters, 01.11.2018

Nov 1 (Reuters) - Russian sovereign wealth fund RDIF says:

* RDIF signed cooperation agreement with German industrial Schaeffler Group.

* RDIF and Schaeffler agreed on strategic cooperation in the automotive and rail industries, steel and cement production, as well as oil and gas and wind energy in Russia and internationally.

* RDIF said the parties aim to attract RDIF’s portfolio companies to participate in the implementation of the joint projects.

* "Further localisation of the company's production in Russia in partnership with RDIF will enable a number of Russian businesses to increase their efficiency," Kirill Dmitriev, RDIF chief executive, said in a statement. Further company coverage: (Reporting by Moscow Newsroom; Editing by Susan Fenton)