Abu Dhabi to invest record $5bn in Russian infrastructure — RT Business

Abu Dhabi to invest record $5bn in Russian infrastructure — RT Business:

"

Abu Dhabi, United Arab Emirates (RIA Novosti/Aleksandr Yurev)

The UAE will invest up to $5 billion in Russian infrastructure projects in a deal between the Russian Direct Investment Fund (RFIF) and the Abu Dhabi Department of Finance, marking the highest investment to Russia from the Emirates.

President Vladimir Putin and Mohamed bin Zayed Al Nahyan, the commander of the UAE’s army, signed a memorandum of cooperation on Thursday.

"We are very pleased with your arrangement with the Russian Direct Investment Fund to invest up to $5 billion in Russian projects," said Putin.

Moscow and Abu-Dhabi agreed on a joint venture investment platform to develop Russian roads, ports and bridges.

While RDIF has been cooperating with Arab investors for a long time, the latest deal marks one the world’s biggest infrastructure projects, according to RDIF head Kirill Dmitriev, cited by Vedomosti. "

'via Blog this'