RDIF: Russia, China mull 70 projects worth $112 bln

BEIJING, Nov 26 (PRIME) -- The Russian–Chinese intergovernmental committee on investment cooperation and the Russia–China Business Advisory Committee are considering 70 projects worth U.S. $112 billion, the Russian Direct Investment Fund (RDIF) said in a statement on Tuesday, following the 6th annual meeting, held in China.

“During the meeting, members of the committee have discussed investment, trade and economic cooperation. Now, the (investment cooperation) committee and its Russia–China Business Advisory Committee are considering 70 projects totally worth $112 billion,” the statement read.

The committees approved additional investment projects of the RDIF including creation of Russia’s largest online trade platform on the basis of the RDIF, Alibaba Group, IT company Mail.ru Group and mobile phone operator MegaFon, establishment of the Russian–Chinese scientific and innovation fund, Russian–Chinese funds of regional development, and construction of an ore dressing facility on the basis of the Kingashskoye and Verkhnekongashkoye copper fields.

The RDIF also said it agreed with the Russia–China Investment Fund and investment company Guangdong Utrust Investment Holdings about the key terms of the $1 billion joint Russian–Chinese Fund for the Greater Bay Region.

The RDIF also announced plans to invest in a 100,000 square meter logistics platform in the Moscow Region in association with Mubadala Investment Company and other Middle Eastern partners.

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