Russia's RDIF Plans to Implement Petrochemical Projects in Country With Saudi SABIC

Sputnik, 02.10.2019

MOSCOW (Sputnik) - The Russian Direct Investment Fund (RDIF) and Saudi petrochemical company SABIC plan to implement many projects in Russia, RDIF CEO Kirill Dmitriev said on Wednesday.

Russia has managed to boost its cooperation with Saudi Arabia thanks to joint work on the OPEC+ oil output cut deal, Dmitriev noted.

"Together with Saudi Aramco, we are investing into Novamet company, which will also deliver products for Saudi Aramco. Together with Mubadala Petroleum, we are investing into Russia's oil sphere. We plan to implement many petrochemical projects in Russia with SABIC," Dmitriev said at the Russian Energy Week forum.

The Russian Direct Investment Fund (RDIF) and Saudi Arabia are discussing cooperation with Russia's Gazprom, Dmitriev said.

"We [together with Saudi Arabia] are discussing various projects, including with Gazprom," Dmitriev told reporters, when asked about the agenda of the meeting between RDIF, Gazprom and Saudi energy minister, held on the sidelines of the Russian Energy Week forum.