POST Online Media Lite Edition


Russia to get $10 billion investment from Saudi Arabia

Staff writer |
Saudi Arabia signed a commitment to invest up to $10 billion in Russia within four to five years, Kirill Dmitriev, head of Russian Direct Investment Fund (RDIF), told Sputnik News.

Article continues below

Dmitriev added that the money from Saudi Arabia’s Public Investment Fund (PIF) is the largest foreign investment for Russia.

Up to first five investment deals are expected to be signed in the next three months and likely to attract partners from China, South Korea and the United Arab Emirates, Sputnik News reported.

RDIF also reportedly signed another agreement of cooperation with the Saudi Arabian General Investment Authority, a sovereign fund, to jointly search for investment projects in Russia.

What to read next

Russia's food import bans to cost EU $16bn
Russia signs deal to build $10 billion nuclear plant in Jordan
Russia expects capital outflow of $90 billion