RDIF, Pirelli mull 100 mln euro investment in Voronezh Tyre Plant

ROME, Jul 5 (PRIME) -- The Russian Direct Investment Fund (RDIF) and Italian tire producer Pirelli are discussing a 100 million euro investment in construction and upgrades of Voronezh Tyre Plant, RDIF CEO Kirill Dmitriev told reporters late on Thursday.

“We are announce new projects we plant to conduct:…it includes additional investment with Pirelli in construction and upgrade of the tire plant,” he said.

A representative of the RDIF said that the investment amounts to 100 million euros, and that the sides are now coordinating the main conditions of the deal they plan to close until the end of 2019.

Dmitriev said that the RDIF and Italian food company Barilla are discussing building of a plant in Russia, while a spokesperson for the fund said that the existing production facility in Solnechnogorsk will be expanded through construction of a semolina noodle line. Conditions will be coordinated until the end of September, the spokesperson said.

The RDIF also signed a cooperation agreement with Italian development institution Cassa Depositi e Prestiti (CDP) and its subsidiaries – SIMEST and Fondo Italiano di investimento SGR. They plan to invest in Italian small and medium-sized companies in Russia, the fund said in a statement.

The RDIF and SIMEST will appraise potential investment in Russian subsidiaries of Italian companies, while the fund and Fondo Italiano di investimento SGR will analyze the possibilities for co-investment in Italian companies that only plan to enter the Russian market.

Dmitriev also said that the government has allowed Italian highway operator ANAS to take part in construction of the fourth stage of Moscow Region’s Central Ring Road.

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