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RDIF and China Shandong to invest in Russia Far East highways

Infra News - Published on Wed, 12 Sep 2018

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Sputnik quoted RDIF as saying that the Russia-China Investment Fund (RCIF), established by the Russian Direct Investment Fund (RDIF) and China Investment Corporation, and Tus-Holdings, one of China's leading innovation companies, announced the launch of the Russia-China Venture Fund (RCVF). It said that "The fund has already studied more than 100 potential projects, of which it is currently considering five in detail - in such areas as new materials, information protection technologies, virtual reality, the development of new generation industrial equipment, innovative oilfield services. The fund plans to announce the first deal by the end of the year."

The RDIF said that the leading companies of Russia and China will boost bilateral investment. It added that "Today there are 73 projects with a total worth of over $100 billion in industrial, infrastructural, mining, agricultural and other sectors. Thanks to the work of the committee, seven projects worth $4.6 billion have already been implemented."

Moreover, RDIF announced Tuesday that it will invest in traffic infrastructure in Russia's Khabarovsk region jointly with Chinese Shandong Hi-Speed Group.

Mr Kirill Dmitriev head of RDIF said that "We believe that the experience of the Chinese side in building and managing modern highways will help make our roads safer, more effective and comfortable."

Meanwhile, Russia's Vnesheconombank (VEB) first deputy chairman Nikolai Tsekhomsky told Sputnik Tuesday that the VEB will discuss potential projects with the China Development Bank (CDB) at the ongoing Eastern Economic Forum.

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Posted By : Nanda Koijam on Wed, 12 Sep 2018
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