Riyadh – Mubasher: The Saudi Technology Development and Investment Company (TAQNIA) has signed an agreement with the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, to work on a project of organizing commercial launch services for small spacecrafts.
The deal was signed during the visit of Russian President Vladimir Putin to Riyadh on Monday, according to RDIF’s statement today.
“The development of space technologies is a priority for KSA and is an area that we are pleased to create new opportunities for cooperation. Our investment partnership with TAQNIA, including staff training and the joint design and development of space technologies will enable the Fund and partners to lay the foundation for implementing large-scale commercial launch projects,” Kirill Dmitriev, CEO of RDIF, commented on the deal.
