RDIF and China Energy Engineering Corporation announce strategic partnership in power industry
Saint-Petersburg, June 6, 2019 - The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, announces a strategic partnership with China Energy Engineering Corporation (CEEC), one of the world’s leading providers of large scale power generation. The agreement was signed today at the St. Petersburg International Economic Forum.
CEEC operates in various segments of power generation (hydropower, nuclear and solar energy), with its own dedicated research base. The company also has extensive experience within the construction of infrastructure (roads, bridges, airports).
Following the agreement, the first project will be the construction of facilities for the Shchekinskaya power station in the Tula Region. In the future, the origination and development of projects will be conducted in both the Russian Federation and in CIS countries.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“The growing market demand for energy resources and infrastructure highlights the relevance of such large projects. We expect that this strategic partnership with CEEC will enable the construction of highly advanced energy infrastructure, further increase cooperation in one of the key sectors of the economy and continue to strengthen ties with China - our largest partner in Asia”.
Dong Bin, President of China Energy Co., Ltd, said:
“The successful Execution of Bulk projects in Russian Federation is up to strong financial resource, it’s our great pleasure to commence the strategic partnership with RDIF, we believe two parties will be unified mutually and conduct the bright future. We should cherish every movement we will make and look forward to the Win-Win”.
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. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than RUB 1.5tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 700,000 people and generate revenues which equate to more than 5% of Russia’s GDP. RDIF established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40bn. Further information can be found at www.rdif.ru
China Energy Engineering Corporation (Energy China) is one of the biggest comprehensive solutions providers for the power sector and infrastructure project in China and the world. Energy China has very strong competition in thermal power, hydropower, solar power, wind power, transmission line and substation, and other infrastructure projects such as roads, bridges, railways, water supply, water treatment, irrigation, seaport, airport, housing and so on. Energy China has provided services in more than 100 countries and regions, including one-stop integrated solutions and full life-cycle project management services. On December 10th, 2015, Energy China launched into stock market in Hong Kong Stock Exchange (3996.HK). Energy China has invested and financed annually over $6 billion for the energy construction and other infrastructure construction in the overseas market. The company enjoys strong net cash flow and top-grade "AAA" credit rating.
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Leach / Maria Shiryaevskaya
Tel: +44 (0) 20 7796 4133