RDIF, Rosgeo to set up invest fund for geological exploration

ST. PETERSBURG, Jun 7 (PRIME) -- The Russian Direct Investment Fund (RDIF) and state geological exploration company Rosgeo have agreed to set up an investment fund for venture financing of geological exploration works, RDIF said in a statement on Friday.

“RDIF, the sovereign fund of Russia, and Rosgeo announce an agreement on creation of an investment fund with an aim of venture financing of geological exploration works. The relevant documents were signed today during the St. Petersburg International Economic Forum,” RDIF said.

As part of the agreement, RDIF and Rosgeo also plan to consider creation of a science-intensive cluster of promising geological exploration studies based on the Moscow Institute of Physics and Technology.

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