RDIF, Turkey's Ronesans Holding to build medical units in Russian regions

Interfax, 09.04.2019

MOSCOW. April 9 (Interfax) - The Russian Direct Investment Fund (RDIF) and Turkish construction, development and investment group Ronesans Holding have agreed to jointly implement a project to build medical units in Russia's regions, the RDIF said.

The agreement on the project was signed Monday during Turkish President Recep Tayyip Erdogan's visit to Moscow.

The project involves the creation of a network of high-tech, multidisciplinary medical units, utilising a single database and a common technological platform that will be connected to medical centers at leading Russian and foreign universities.

The partnership between the RDIF and Ronesans Holding will stimulate the creation of new medical equipment, consumables, medical devices and essential medicines in Russia.

The partners plan to build 15 medical units at Russian universities, RDIF CEO Kirill Dmitriev said in the press release.

The launch of a Russian-Turkish investment fund by the RDIF and Turkey Wealth Fund (TWF) was also announced during the visit. The agreement on the fund was signed in the presence of President Vladimir Putin and Erdogan.

Initial investment in the Russia-Turkey Investment Fund's projects will amount to 200 million euros. The total size of the fund is 900 million euros, the RDIF said.

The partners have begun developing joint projects with a special focus on the technology, healthcare and infrastructure sectors, the RDIF said.

"The Russian Direct Investment Fund and Turkey Wealth Fund, which have just signed an agreement on the creation of an investment platform with capital in the amount of $1 billion, are facilitating the implementation of new joint projects. With such capital, I think they will be able to raise at least $5 billion of financing for various projects," Putin said at a press conference after a meeting with Erdogan.

The RDIF and TWF signed a memorandum on the creation of the Russia-Turkey Investment Fund in March 2017.