The Russian direct investment fund (RDIF) will sign 10investment agreements worth more than $1.3bn with UAE partners includingMubadala Investment Company on Tuesday.
The agreements, signed during Russian President Vladimir Putin'svisit, are in many fields including advanced technology, health care, mineralresources extraction, logistics and industrial production, the Russian SovereignWealth Fund said in a statement.
Saudi Energy Minister, Prince Abdul-Aziz bin Salman announcedyesterday the signing of 20 agreements with Russia to develop many areas withRussia.
During the signing ceremony of agreements between Saudi Arabia andRussia, in the presence of King Salman and President Putin yesterday, hestressed that oil will remain in the foreseeable future an essential element inthe development of the world economy.
The CEO of the Russian Fund for Direct Investment, Kirill Dmitriev,said in an interview that the fund will sign 14 new agreements of more than$3bn with a number of Saudi companies.
"Our agreements will be worth more than $3bn now and one companywill be specialized in the oil industry and will invest in partnership withAramco to produce important materials for Russian companies, Aramco and manyother companies around the world," Dmitriev said.
The Russian official pointed out to make "the final arrangementsfor investments with one of the largest logistics players in Russia and we seekto invest in a large portfolio of aircraft lease".
