Russia's RDIF, PIK Group Discuss Possibility to Build Plant in Saudi Arabia - RDIF CEO

Sputnik, 30.10.2019

RIYADH, October 30 (Sputnik) - The Russian Direct Investment Fund (RDIF) is discussing with Russia's PIK Group real estate company the possibility to build a plant in Saudi Arabia, as well as PIK Group's participation in Saudi Arabia's construction program, RDIF CEO Kirill Dmitriev said on Wednesday.

"We are discussing with the PIK Group the possibility to build a plant in Saudi Arabia and the PIK Group's active participation in the large-scale construction program that is being implemented in Saudi Arabia," Dmitriev told reporters on the sidelines of the international Future Investment Initiative forum in Riyadh.

The RDIF CEO praised the PIK Group's efficient and quick performance.

"There are very many breakthrough examples of technological construction in Russia, including those of the PIK Group. The PIK Group is a high-tech constructor, this is a company that is, perhaps, rather a technological operator than a constructor, it can produce objects very quickly and efficiently," Dmitriev went on to say.

According to Dmitriev, the OPEC+ oil production cuts deal, as well as Russia's political and investment success, has contributed to enhancing mutual trust between the countries.

"The Russian companies that understand this, such as PIK and others, start to actively make advantage of it. So we believe that this is an absolutely perfect time for many other Russian companies for attracting Saudi investment and developing the Russian-Saudi business," Dmitriev concluded.

The Future Investment Initiative forum kicked off on Tuesday and will run through Thursday.