Russian Far East Devt Fund wants to launch 2 $1 bln funds with China

MOSCOW, Mar 24 (PRIME) -- Russia’s Far East and Baikal Region Development Fund wants to sign agreements with Chinese investors to establish two funds amounting to U.S. $1 billion each at a forum on May 14–15, Fund CEO Alexei Chekunkov told PRIME in an interview published on Friday.

“We expect that it will be signed in May (at the forum). We have worked very hard, since long ago. It seems that a critical mass of will and comfort has been formed on both sides in order to launch both funds,” Chekunkov said.

One of the funds will be focused on construction and infrastructure. Russia has offered seven investment projects for consideration, including in construction of resorts.

Another fund will have a mining profile with a focus on gold. The bulk of capital will be contributed by Asian investors. Russia’s Far East and the Baikal Region Development Fund plans to invest 10% of the capital.

The Russian fund has offered 15 gold projects with total resources of 1,500 tonnes of gold, and two large copper-gold projects.

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