FINANCIAL NEWS

Mubadala, RDIF set up USD2b investments fund

22 Jun 2013

(MENAFN) Mubadala Development Co stated that it plans on setting up a USD2 billion fund to invest in projects in Russia in partnership with the Russian Direct Investment Fund (RDIF), reported Arabian Business.

Abu Dhabi-based Mubadala also said that the two sides will contribute USD1 billion each to the fund which will be aimed at investing in different industry sectors.

It is worth noting that Russian Direct Investment Fund has worked with Middle East investors during 2012 on building the USD175 million power generator Enel OGK-5 in Russia. This was one of the few investments from the ME region in Russia, although some commitments have been made over the past year.

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