Saudi King Welcomes Cooperation Between Saudi, Russian Investment Funds

Mohammad Ali (@ChaudhryMAli88) Published October 14, 2019 | 10:55 PM

Saudi King Salman bin Abdulaziz Al Saud praised on Monday joint projects of Saudi Arabia's sovereign wealth fund, Public Investment Fund, and Russian Direct Investment Fund (RDIF).

RIYADH (UrduPoint News / Sputnik - 14th October, 2019) Saudi King Salman bin Abdulaziz Al Saud praised on Monday joint projects of Saudi Arabia's sovereign wealth fund, Public Investment Fund, and Russian Direct Investment Fund (RDIF).

Russian President Vladimir Putin is currently in Riyadh for a state visit.

"Reaffirming our support for the investment cooperation between the two countries through the Public Investment Fund and the Russian Direct Investment Fund, we welcome investment of the two funds in more than 30 investment projects, so far, and stressing the important role of the first meeting of the Saudi-Russian Economic Committee, to be held during the visit, that we support," the monarch said, when inaugurating talks with Putin.

During the Russian president's visit to Saudi Arabia, the RDIF signed 10 agreements with Russian and Saudi partners worth $2 billion in the areas of aircraft leasing, railways, petrochemicals, agriculture, fertilizers and others. The fund has also opened its first foreign representative office in Riyadh.