Date: 7 months ago   Category: Economy

The sovereign fund of Saudi Arabia invests in RKIF $500 million — Rambler News Service


Will attract the Russian Direct Investment Fund (RDIF) to the Russian-Chinese Investment Fund (RCIF) of the new partner – sovereign fund Public Investment Fund (PIF) of the Kingdom of Saudi Arabia, it is said in the statement of RDIF. "By agreement of the parties PIF contribution to RKIF will make $500 million. Thus, under control of RKIF the capital for the sum of $2,5 billion (the contribution of RDIF and China Investment Corporation makes $1 billion) will be accumulated" — it is said in the statement. As a result of transaction the tripartite Russian-Chinese-Saudi investment fund will be created. RDIF notes that from the moment of creation in 2012 RKIF invested and has approved more than 25 projects. Investments have been sent to such branches as infrastructure the forest industry, a consumer sector, the financial sector and also information technologies, etc. Now in active study of RKIF there are more than 20 projects with a total amount over $1 billion.

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