(MENAFN) Saudi Public Investment Fund (PIF) signed a USD10 billion partnership agreement with the Russian Direct Investment Fund (RDIF) to invest in several projects in Russia, Arab News reported.
Most of the Saudi finance is going to be injected over Russian agricultural schemes, medicine, logistics, retail and real estate sectors, according to Russian media.
"It's strategically wise from a diversification point of view for Saudi Arabia to explore other investment destinations," a Middle East director at Ashmore Group said in a statement.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.