RDIF and UPL announce joint investments in Russian agricultural sector
Vladivostok, September 4, 2019 - The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund), today announced joint investments with UPL, the Indian leader in agricultural solutions. The agreement was signed today on the sidelines of Eastern Economic Forum.
The investments will be used for further development of the company’s business in Russia and the CIS. Currently, the Russian division of UPL offers around 40 products, including crop protection and biological solutions across the country through 100 distributors in over 20 regions. UPL is among the top five global providers of crop protection and plant nutrition products.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“UPL has a large portfolio of products and solutions across a range of agricultural areas that are in high demand from Russian agricultural enterprises and national crop protection formulation plants. We hope that with the help of RDIF and its partners, the company will strengthen its market position through the sales of its innovative, eco-friendly crop protection products. UPL will be able to greatly contribute towards improved food security and increased efficiency at all stages of agricultural production”.
Jai Shroff, Global CEO of UPL Ltd (UPL), said:
“Russia is one of the world’s most important and fast-growing agricultural producers. UPL – and its subsidiary Advanta Seeds – has operated in Russia for many years now and hopes to help unlock the enormous potential that is yet to be realized. We welcome the prospect of deepening our support for Russian farmers and working with RDIF to find and invest in opportunities to develop the Russian agricultural sector, improve food security and increase sustainability.”
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 RUB1.5tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF has 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
UPL is a leader in global food systems, ranking among the top 5 agricultural solutions companies worldwide. UPL strengthens food security in over 130 countries by offering world class technologies and solutions for sustainable agriculture. With market access to 90% of the world’s food basket, including a focus on high-growth regions, UPL provides a compelling value proposition for growers, distributors, suppliers and innovation partners in a consolidating market. UPL has a diverse portfolio of both patented and post-patent agricultural solutions for both row and specialty crops, including seeds, seed treatment, crop protection, plant nutrition, biological and post-harvest solutions.
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