RDIF, Marubeni Corp, AEON Corp Agreed On Investing In Methanol Production In Volgograd

The Russian Direct Investment Fund (RDIF), the Japanese conglomerate Marubeni Corporation and the AEON Corporation have agreed on key terms for investing in the methanol production and chemical cluster in the city of Volgograd, the RFPI said Monday

VLADIVOSTOK (UrduPoint News / Sputnik - 10th September, 2018) The Russian Direct Investment Fund (RDIF), the Japanese conglomerate Marubeni Corporation and the AEON Corporation have agreed on key terms for investing in the methanol production and chemical cluster in the city of Volgograd, the RFPI said Monday.

A corresponding agreement was signed in the presence of Russian President Vladimir Putin and Japanese Prime Minister Shinzo Abe at the Eastern Economic Forum.

The investment in the project will be over $800 million. The construction is expected take place in early 2020 - end of 2022.

The RDIF and JBICIG Partners (a subsidiary of Japan Bank for International Cooperation (JBIC)) under the Russian-Japanese Investment Fund framework, agreed on a joint project for the construction of a pellet fuel production plant in the city of Amursk in partnership with the Far Eastern RFP Group and Japanese Prospect Corporation, the RFPI said.

The investment in the project will reach $200 million. The project involves construction of a plant to produce fuel pellets with a capacity of 135,000 tonnes per year. The launch of production is scheduled for 2019.