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Abu Dhabi could invest $5 billion in Russia infrastructure - Kremlin
September 11, 2013 / 2:13 PM / 4 years ago

Abu Dhabi could invest $5 billion in Russia infrastructure - Kremlin

MOSCOW (Reuters) - Abu Dhabi plans to invest $5 billion (3 billion pounds) in Russian infrastructure under an accord expected to be signed during talks between Crown Prince Mohammed bin Zayed Al Nahyan and President Vladimir Putin on Thursday, the Kremlin said in a statement.

Russia's President Vladimir Putin makes a statement on issues connected with chemical weapons in Syria at the Novo-Ogaryovo residence outside Moscow, September 10, 2013. REUTERS/Michael Klimentyev/RIA

The emirate’s finance department will co-invest in the joint venture together with the state-run Russian Direct Investment Fund (RDIF), the statement said, without specifying the amount of Russia’s possible contribution.

The announcement comes months after the RDIF set up a $2 billion fund with Abu Dhabi-based Mubadala Development to fund projects in Russia across industry sectors.

Reporting by Alexei Anishchuk; editing by Megan DAvies

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