Arabic AR Chinese (Simplified) ZH-CN English EN French FR German DE Japanese JA Portuguese PT Russian RU Spanish ES Ukrainian UK

Breaking

Saudi Arabia boosts investment in Russian economy

Latest news

    Saudi investments in Russian projects has exceeded $2 billion, according to the head of the Russian Direct Investment Fund, Kirill Dmitriev.

    “More and more Russian companies are investing in Saudi Arabia, and Saudi Arabia is investing in Russia. Saudi Arabia’s investment in Russia has already reached more than $2 billion,” Dmitriev said.

    Read more

    Russia bidding to construct 16 nuclear power plants in Saudi Arabia

    A Sovereign Fund of Saudi Arabia, Public Investment Fund (PIF), announced in 2015 its intention to invest $10 billion in the Russian economy through partnership with the Russian fund.

    The funds have invested in petrochemicals, energy, transport infrastructure and retail. Saudi Arabia also expressed interest in working with Russia in the railway industry, space exploration and peaceful nuclear energy.

    Russian banks and a joint Russia-China investment fund are eager to participate in Saudi company Aramco’s initial public offering (IPO). Riyadh plans to sell about a 5 percent stake in its national oil company in a record listing.

    “We have a Russia-China investment fund, and through that Russia-China investment fund we see a major interest in the Aramco IPO from a number of leading Chinese institutions,” Dmitriev said.

    “We see significant interest to invest in the Aramco IPO from Russia, from China, and we believe that this is very good for, once again, thinking jointly about oil.”

    The RDIF and Aramco also plan to invest up to $1 billion in Russia’s largest independent driller, Eurasia Drilling.

    View the original article: https://www.rt.com/business/418763-russia-saudi-arabia-investment/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

    For more stories on economy & finance visit RT’s business section

    In the same category are

    From Albertville to PyeongChang: The story of two Russian hockey triumphs On Sunday, Russian ice hockey players won Olympic gold for the second time in the post-Soviet era, and both victories came under circumstances that la...
    North Korea slams US for sanctions & ‘clouds of war’ but says it is open for talks Pyongyang has accused Washington of bringing “clouds of war” to the region by imposing “the largest-ever” sanctions during the Olympic Games, but says...
    Saudi Arabia will now allow women to join its armed forces The Kingdom of Saudi Arabia will now allow women to apply for military service in a historic move. The decision comes as part of Saudi Arabia’s Vision...
    Data of 12,000+ users of US-based cryptocurrency exchange to be disclosed to tax officials Coinbase, a US-based cryptocurrency service, has informed its users that it must provide the data of thousands of them to the Internal Revenue Service...
    2 attacks thwarted & 3 mosques closed in terrorism crackdown – French interior minister The French interior minister has revealed that authorities have thwarted two planned terrorist attacks since the start of the year. Several mosques ha...
    You could have been a millionaire: 5 best ICOs you missed so far this year No one becomes rich by stashing money under the mattress. Each and every billionaire or millionaire gets there mostly by investing. The recent boom in...

    Leave a comment

    Your email address will not be published. Required fields are marked *