Riyadh – Mubasher: The Russian Direct Investment Fund (RDIF) has revealed plans to raise mutual collaboration with Saudi Arabia over the coming period.
The head of Russia’s state investor Kirill Dmitriev met with the kingdom’s energy minister of Khalid al-Falih and other top officials on Wednesday to discuss boosting joint ventures (JVs) in oil refining, petrochemicals, gas chemicals, oilfield services, and other industries, Reuters reported, citing a statement by the the Russian body.
In December, the Russian sovereign fund stated that it would team up with the Saudi Arabian Oil Co, known globally as Saudi Aramco, and Japan’s Mitsui & Co to purchase a stake in Russia’s Novatek’s Arctic liquefied natural gas (LNG) 2 project.
Demitriev stated last May that the RDIF was considering means to boost Saudi investments in Russia.
The Saudi energy minister said in the same month that his nation was looking to attract Russian investments in the coming period in a bid to diversify its economy.
In October last year, Dmitriev indicated during the Future Investment Initiative (FII) conference that Saudi Arabia is a major economic partner for his country.
In October 2017, the Russian body decided to participate in establishing the new Saudi megaproject Neom with other partners.
