Russian Direct Investment Fund, Singapore companies sign agreements totaling over $1 bln - Fund head Dmitriev
SINGAPORE. Nov 14 (Interfax) - The Russian Direct Investment Fund and companies based in Singapore have signed agreements totaling over $1 billion, Fund head Kirill Dmitriev told the press in Singapore on Wednesday.
"Investment cooperation between Russia and Singapore, including Russia's interaction with major Asian economies, has been actively developing. The Russian Direct Investment Fund has signed agreements totaling over $1 billion. These are the investments to be made by Singapore in various projects in Russia," Dmitriev said.
Investments will be made in chemical projects in Tatarstan amongst others.
The agreements were signed during Russian President Vladimir Putin's visit to Singapore.
In the past, the Russian Direct Investment Fund and Singapore's Changi made a successful investment in the Vladivostok Airport, which increased passenger traffic more than 20% since the time the deal was made, Dmitriev said.
The overall investment of Singapore in Russian business projects exceeds $17 billion, and there is still a potential for growth, he said.