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Russia to sign $2 billion deals with Saudi Arabia

Christian Fernsby ▼ | October 11, 2019
The Russian Direct Investment Fund (RDIF) expects to sign 10 agreements with a total value of over 2 billion U.S. dollars when Russian President Vladimir Putin pays a state visit to Saudi Arabia on October 14, the RDIF head said.
Kirill Dmitriev
Russia   RDIF chief executive officer Kirill Dmitriev
"These will cover various areas, including agriculture, the railway sector, the fertilizer sector, the petrochemical sector and so on," RIA Novosti news agency quoted RDIF chief executive officer Kirill Dmitriev as saying.

Topics: Russia Saudi Arabia

One of the deals will involve Saudi oil giant Aramco, he said, refusing to disclose details.

RDIF will also sign an agreement with Saudi colleagues on cooperation in artificial intelligence, he added.

A RDIF delegation led by Dmitriev will join Putin's visit to Saudi Arabia.

RDIF is the main operator of investment between Saudi Arabia and Russia. RDIF and Saudi Arabia's Public Investment Fund (PIF) created a long-term strategic partnership in 2015.

PIF has allocated 10 billion dollars to invest in projects with RDIF.