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Russia to invest $1 trillion in infrastructure by 2020 - ministry

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At least $1 trillion will be invested in Russia's infrastructure before 2020, the acting economic development and trade minister said Thursday.
SOCHI, September 20 (RIA Novosti) - At least $1 trillion will be invested in Russia's infrastructure before 2020, the acting economic development and trade minister said Thursday.

"We estimate the minimum amount of investment required to be spent on infrastructure by 2020 at $1 trillion," German Gref told the Fourth Russian-Chinese Investment Forum.

Russia and China have signed nine investment agreements and contracts worth a total of $1.2 billion at the forum.

He said special economic zones, venture funds and techno-parks are key vehicles for the inflow of capital, including foreign direct investment.

Gref invited businesses to invest in these programs, as well as bid for construction projects in Sochi.

Sochi won a bid to host the 2014 Winter Olympic Games in early July after a close race with South Korea's Pyeongchang and Austria's Salzburg.

He said energy, primarily oil production, forestry and timber processing, and services are a priority in Russian-Chinese cooperation.

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