SPIEF Participants Signed $32Bln Worth of Agreements

The participants of the three-day St. Petersburg International Economic Forum (SPIEF) signed 475 agreements, worth around $32 billion, according to a statement by the Roscongress foundation.

MOSCOW (Sputnik) — The participants of the St. Petersburg International Economic Forum (SPIEF) signed 475 agreements, worth around $32 billion, according to a statement by the Roscongress foundation, who organized the event.

The three-day forum that drew in prominent politicians and businesspeople from different countries concluded on Saturday.

"This year, 475 investment agreements, memorandums and letters of intent have been signed, with their total worth amounting to 1,817.9 billion rubles [roughly $32 billion] (only the agreements not covered by commercial confidentiality are taken into account)," the statement said.

According to Roscongress, the largest among all of the deals included an agreement between German chemical company Linde Group and Russia's TAIF on the building of a new ethylene production site in Russia (approximately $10.5 billion) and an agreement between Russia's Rosatom and Nuclear Power Corporation of India Ltd on the building of power units for the Kudankulam Nuclear Power Plant in India (about $4.2 billion).

In 2015, a total of 205 agreements were signed at the forum, in 2016, there were 356.