MOSCOW, September 11 (RIA Novosti) – The Russian Direct Investment Fund and the Abu Dhabi Department of Finance are planning to sign a deal whereby the emirate will invest up to $5 billion in Russian infrastructure projects, the Kremlin said Wednesday.
A memorandum on the creation of a joint venture, to serve as an investment vehicle, will be signed Thursday, the Kremlin press service said, adding that the deal would be timed to coincide with a meeting between Russian President Vladimir Putin and Mohamed bin Zayed Al Nahyan, deputy commander-in-chief of the UAE’s armed forces.
Putin and Nahyan are expected to discuss the expansion of bilateral trade and economic ties, as well as energy and humanitarian collaboration, the Kremlin said.
In June, the Russian Direct Investment Fund and the UAE wealth fund Mubadala established a $2 billion joint investment fund.
The fund will focus on long-term investment opportunities across a range of industry sectors, “acting as a catalyst for direct investment in Russia,” Mubadala, which reportedly controls a $5 billion investment portfolio, said at the time.