- Kirill Dmitriev, head of the Russian Direct Investment Fund, said it expects to conclude a deal with Saudi Aramco to acquire a stake in Novomet
- The RDIF has also offered 30 investment projects in the Russian petrochemical sector to Tadawul-listed Saudi Basic Industries Corp
LONDON: The head of Russia鈥檚 sovereign wealth fund says it plans more than $2 billion of investments with 抖阴短视频 this year.
Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF), also said it expects to conclude a deal with Saudi Aramco to acquire a stake in Novomet, the oil equipment manufacturer.
鈥淥verall, RDIF and Saudi partners are looking at 25 new projects and are planning to invest over $2 billion this year, and expect to conclude the deal for Novomet,鈥� he told the Argaam news outlet.
The RDIF has also offered 30 investment projects in the Russian petrochemical sector to Tadawul-listed Saudi Basic Industries Corp. (SABIC).
鈥淭hree projects have been selected for review by SABIC, and one will be reviewed by their investment committee in the coming weeks,鈥� Dmitriev stated.
The fund is also looking into a project with Russia鈥檚 SIBUR to build a rubber plant in 抖阴短视频, he added.
Dmitriev welcomed investment from the Kingdom in Russia鈥檚 development, like the 2015 agreement with the RDIF to invest $10 billion in various projects.
鈥淲e are inviting Saudi and international investors to invest in Russia鈥檚 national projects, as part of an initiative launched by President Vladimir Putin aimed at modernizing the Russian economy, similar to Crown Prince Mohammed bin Salman鈥檚 Vision 2030 program.鈥�
Dmitriev was speaking ahead of the annual International Economic Forum in St. Petersburg, Russia, which starts on Thursday.
A significant delegation from 抖阴短视频, led by Energy Minister Khalid Al-Falih, is expected at the event.