RDIF says $2 billion will be invested in Russian economy from joint Russian-Saudi fund

The Russian Direct Investment Fund (RDFI) will invest $2 bln in infrastructure projects in Russia from the joint Russian-Saudi fund next year, RDFI CEO Kirill Dmitriev told reporters.

"Saudi Arabia confirmed their interest in participation in several infrastructure projects presented by RDIF, and we plan to invest in Russia another $2 billion from the joint Russian-Saudi fund in the next year," Dmitriev said. He noted that twelve projects on petrochemistry, logistics, and so on, are on the agenda.

Dmitriev said that at the meeting between Russian President Vladimir Putin and Saudi Arabia's Crown Prince Mohammed bin Salman, the question of increasing Saudi investment was discussed. He said that it was noted that the volume of Saudi investment was already significant. "Two years ago Saudi Arabia's investment stood practically at zero, and now they have exceeded $2 billion," Dmitriev said.