| Saudi Arabia plans to invest up to $10 billion in Russian Federation over the next five years in the latest bid by the kingdom to endear itself to a traditional energy rival. Saudi Arabia’s Public Investment Fund (PIF) signed a deal on Monday with the Russian Direct Investment Fund (RDIF) to invest $10bn in the country, in a possible sign of rapprochement.
The prince visited St. Petersburg with a large delegation during the economic forum and took part in President Vladimir Putin’s meeting with global investment fund heads. Seven projects have already received preliminary approval, with a total of 10 likely to be green-lighted by the end of the year, Dmitriyev said. PIF expressed interest in investing in agriculture, medicine, retail, logistics and real estate, says Dmitriev...............................................Full Article: Source |