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Russia, Saudi Arab to sign mega deals during Putin's visit

Moscow |Friday, 2019 3:15:06 AM IST
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The Russian Direct Investment Fund (RDIF) expects to sign 10 agreements with a total value of over US $2 billion when Russian President Vladimir Putin pays a state visit to Saudi Arabia on October 14, the RDIF head said Thursday.

"These will cover various areas, including agriculture, the railway sector, the fertilizer sector, the petrochemical sector and so on," RIA Novosti news agency quoted RDIF's Chief Executive Officer Kirill Dmitriev as saying, Xinhua news agency reported.

One of the deals will involve Saudi oil giant Aramco, he said, refusing to disclose details.

RDIF will also sign an agreement with Saudi colleagues on cooperation in artificial intelligence, he added.

A RDIF delegation led by Dmitriev will join Putin's visit to Saudi Arabia.

RDIF is the main operator of investment between Saudi Arabia and Russia. RDIF and Saudi Arabia's Public Investment Fund (PIF) created a long-term strategic partnership in 2015.

PIF has allocated 10 billion dollars to invest in projects with RDIF.

--IANS rt/

( 175 Words)

2019-10-10-21:04:09 (IANS)