RDIF partners with Saudi Agricultural and Livestock Investment Company
Riyadh, October 14, 2019 – The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, announces a cooperation agreement with Saudi Agricultural and Livestock Investment Company (SALIC).
The announcement was made today in presence of Russian President Vladimir Putin and King Salman bin Abdulaziz Al Saud of Saudi Arabia.
The parties will jointly identify and implement attractive investment projects in agriculture and livestock in Russia to strengthen bilateral economic ties and increase the volume of mutual investments between Russia and Saudi Arabia.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“Growth in the Russian agricultural sector has demonstrated outperformance in recent years and still retains significant development potential. The partnership between RDIF and SALIC is aimed at realizing this potential by attracting investment and utilizing SALIC’s expertise, as well as further strengthening comprehensive cooperation between our countries. I am confident we will begin working on our first joint projects in the near future.”
Khaled Al-Aboodi, Managing Director of SALIC, said:
“Our intention from this agreement is to fully utilize RDIF expertise and knowledge of the Russian market as the sovereign wealth fund trusted by both foreign and local investors. We truly believe that RDIF is the natural partner of SALIC in entering the Russian market and therefore look forward to a productive and long lasting relationship with the Fund.”
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 RUB1.5 tn 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 established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40 bn. Further information can be found at www.rdif.ru
SALIC (Saudi Agricultural and Livestock Investment Company) was established by Royal Decree No. M / 22 dated in 18/04/1430 AH corresponding to 04/14/2009 AD, as a Saudi joint stock company that is owned by the Public Investment Fund of the Kingdom of Saudi Arabia. Its statutes state that its activity is in the field of investments in agricultural and livestock production in countries that have a competitive advantage in contributing to the production of selected food goods and their availability for export markets. Further information can be found at www.salic.com
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