Riyadh – Mubasher: Khalid Al Falih, Saudi minister of energy, industry and mineral resources, on Thursday said that his country will pump and invest $10 billion in the Russian sovereign fund.
Many promising investment opportunities will be launched, as Saudi Arabia and Russia are planning to mutually invest in technology, energy, and infrastructure, Al Falih added, during the Saudi-Russian Investment Forum, which was held in Moscow, on the sidelines of King Salman Bin Abdul-Aziz’s visit.
The Kingdom and Russia played a leading role in stabilising the oil market, Al Falih continued.
The Saudi-Russian Investment Forum represents a step forward to boost investment between the two countries, Russian minister of economy Maxim Oreshkin said.
The forum supports oil production cut and stabilising the market, Oreshkin asserted.
Earlier on Tuesday, Oreshkin had announced that Russia would be anticipating the Saudi participation in its plans for privatisation.
On another note, the Russian minister of energy Alexander Novak had said that both countries would establish a new $1 billion fund to invest in the energy sector.
