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Rostec to set up investment fund worth $500 mln with Chinese top carbon manufacturer

September 05, 14:24 UTC+3
The two companies have also agreed to create a managing company to invest in various international carbon projects
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MOSCOW, September 5. /TASS/. Russia’s investment holding RT - Business Development (100% subsidiary of Rostec) and China’s Ingenious Ene-Carbon New Materials Co., Ltd. have signed a memorandum of understanding on implementation of investment projects in the carbon sector, the investment holding reported Monday.

The two companies have also agreed to set up a managing company on a parity basis to invest in various Russian and international carbon projects. The fund worth up to $500 mln will be backed by Chinese financial institutions and big private investors. The fund worth up to $500 mln will be backed by Chinese financial institutions and big private investors.

The document was signed by General Director of RT - Business Development Andrey Korobov and CEO of Ingenious Ene-Carbon New Materials Co., Ltd. Fan Zhiming.

The memorandum is a step in the development of cooperation of Rostec with Chinese partners, which is going to attract more international investments in its projects as well as expand the order portfolio of enterprises, which are parts of the state-owned corporation, the report said.

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