Sistema reports arrest of its stakes in MTS, Medsi, BES as part of dispute with RosneftBusiness & Economy June 26, 20:58
Russian submarine successfully test-fires Bulava intercontinental missileMilitary & Defense June 26, 19:20
Rosneft and RBC reach friendly settlement on defamation lawsuitBusiness & Economy June 26, 18:50
Number of centers issuing FAN IDs to be increased ahead of FIFA Confederations Cup FinalSport June 26, 18:33
News about anti-doping probe against Russian football team players is fake — executiveSport June 26, 18:25
Putin refers to State Duma Council of Europe convention against financing terrorismRussian Politics & Diplomacy June 26, 18:15
Russia to lay down 2 diesel-electric submarines for Pacific Fleet in JulyMilitary & Defense June 26, 18:07
Russia’s Khramtsov wins first gold at 2017 World Taekwondo ChampionshipsSport June 26, 18:03
Russian Navy to get four frigates by 2020Military & Defense June 26, 17:41
MOSCOW, July 7. /TASS/. Saudi Arabia's Public Investment Fund (PIF) plans investing up to $10 billion in infrastructure and agricultural projects in Russia in partnership with the Russian Direct Investment Fund (RDIF), Kirill Dmitriyev, RDIF director told TASS.
"That's a token transaction, one of the largest transactions in the realm of sovereign funds," Dmitriyev said. "These monies will be channelled to the farming sector, agriculture, healthcare, logistics, retail trade, and real estate.'
The aforementioned amount of $10 billion will be invested over a period of four to five years, and the first seven deals have receive preliminary endorsement, and ten or so investments will be made before the end of this year," he said.
The agreement between Saudi PIF and RDIF signals a reloading of economic relations between Russia and Saudi Arabia, Dmitriyev told TASS.
"The potential of relations between the two countries is huge," he said.