Last week, from 25th to 31st of January, the activities of the Russian Direct Investment Fund came into view of the foreign media. The Fund has launched several new joint projects with France’s CDC International Capital, UAE’s marine terminal operator DP World and Egyptian commercial banks.
The Russian Direct Investment Fund (RDIF) and France’s CDC International Capital have agreed to strike a deal on more than 10 joint investment projects worth over $1.1 bln, sputniknews.com agency reported on January25th. The agreement involves such sectors as the machinery, agriculture, and infrastructure industries and construction materials. Earlier, in the framework of the Russian-French Economic, Financial, Industrial and Trade Council’s session in Moscow (CEFIC), the partners agreed to establish a mechanism for the implementation of joint investments.
On January 28th, Construction Week Online covered a new joint venture that was set up by one of the largest marine terminal operators, UAE’s DP World and the Russian Direct Investment Fund (RDIF), with a view to making investments in marine terminals and transport infrastructure in Russia. A new company, named DP World Russia, is expected to invest over $2 bln in Russian port facilities’ modernization.
“Russia has always been an attractive embarkation and destination market for us with huge long term growth prospects. This joint venture allows DP World and RDIF to build on each other’s strengths in bringing economic prosperity to Russia. It is also another great example of strategic partnerships with government stakeholders, a model that has proven very successful for us over the years”, pointed out Sultan Ahmed Bin Sulayem, DP World chairman.
Egypt Independent reported on January 31st about the planned signing of a memorandum between the Russian Direct Investment Fund and several Egyptian commercial banks on a project that established an Egyptian investment fund worth US$5 billion. The new Fund, with participation from the UAE and RDIF, is intended for the financing of metro, railway, logistic and tourist complex projects.
The agreement was reached within the framework of the Egyptian-Russian joint Committee for Trade, Economic, Scientific and Technical Cooperation being held in Cairo. Moreover, in the course of the event the parties announced the signing of a memorandum of understanding to build a Russian industrial zone in the territory of the Suez Gulf.
Over 60 major Russian companies, working on infrastructure projects in Egypt, took part in the intergovernmental committee which was conducted under the auspices of the trade and industry ministers from both countries – Tarek Qabil and Denis Manturov.
Last week it became known that Russia (the “Rosatom” company) and Iran in March 2016 are embarking on the construction of the second nuclear reactor at the Bushehr nuclear plant. This statement was made by the head of the Atomic Energy Organization of Iran, Ali Akbar Salehi, TradeArabia reported on January 25th. According to Mr. Salehi, investment in the projects totaled $11 bln. The deal was reached by the two countries in November 2014, and it involves the building of eight nuclear reactors in Iran.
On the 25th of January Reuters reported that McDonald's is planning to increase its total investment in Russia and to open new restaurants this year, due to its preference for local suppliers and affordable menus.
"The dining industry has been stagnating since the beginning of 2015 but we have seen significant growth of our market share as we have continued expansion," said Khamzat Khasbulatov, chief executive of McDonald's Russia.
The company intends to open 60 more restaurants in 2016, and the cost of investments in new restaurants and renovations to the older ones will amount to 9 bln rubles, compared to 8 bln last year.
The Bulgarian “Fokus” agency published, on the 27th of January, an article covering the 15th sitting of the Bulgarian-Russian Intergovernmental Commission on Economic and Scientific-Technical Cooperation. The participants discussed cooperation in the construction sector and measures to expand it. The Russian and Bulgarian delegation elicited most interest in proposals for exchange of information about national requirements for standards in the field of construction and construction products, as well as matters concerning energy efficiency and major projects for residential building repairs. Besides this, the parties showed their interest in cooperating in the field of information-related investment, construction projects and building sites provided under state and regional programs.
In Italy, Russia's Diakont is investing over 35 mln euro in building a facility producing electromechanical motors destined for a range of sectors, from the automotive and aerospace industries to packaging, reported Italy24 on January 28th. The new enterprise is to be built in the Italian province of Arezzo, in Lucignano. The construction starts in spring, whereas the facility is planned to be put into operation in 2018.
The Diakont company, based in St. Petersburg, specializes in the design and production of control systems for nuclear power plants and robotic machines for operations in hazardous environments. At the initial stage the plant will create 200 new jobs: “We are examining the most suitable technology and the level of automation will affect the number of employees to be hired,” said Sergio Porcellotti, vice president and CEO of the Italian branch of Diakont.