Ministry: Saudi Arabia plans investment in over 25 Russian projs

MOSCOW, Oct 5 (PRIME) -- Saudi Arabia plans to invest in over 25 Russian projects in the sphere of production of consumer goods, agricultural industry, real estate, infrastructure, and the oil and gas sector, the Industry and Trade Ministry said late Wednesday.

The prospects of bilateral cooperation were discussed by Russian Industry and Trade Minister Denis Manturov and Saudi Arabian Energy Minister Khalid al-Falih. The Russian Direct Investment Fund (RDIF) and Saudi Arabia’s PIF have agreed to create an investment energy fund.

“Positive dynamics… are seen… in cooperation between RDIF and Saudi Arabia’s sovereign fund PIF… investments have been approved in… complex development of the territory of former Tushino airfield… These investments indicate a positive yield, which is a reason for further expansion of volumes of cooperation. RDIF and PIF have corresponding plans about over 25 projects,” the statement said.

End