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FINANCIAL NEWS
Saudi fund to invest USD10b in Russia
09 Jul 2015
(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.
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