10/15/2016

Russianstatefundtocoinvest$1blninIndia|Reuters

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GLOBAL ENERGY NEWS | Fri Oct 14, 2016 | 10:32pm IST

Russian state fund to co-invest $1

bln in India
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"We helped in the process of the NIIF being created," RDIF CEO Kirill Dmitriev said in
an interview with Reuters. "Now we will provide equity capital to joint Russian-Indian
projects, mainly in India."

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The RDIF was set up by Dmitriev in 2011 with billions in Kremlin cash and has since
made partial exits from bets in Russia, including the Moscow Stock Exchange, diamond
miner Alrosa and Rostelekom.

Pakistan lifts travel ban for journalist

but warns media

The state-backed Russian Direct Investment Fund (RDIF) will work with an Indian fund
to invest $1 billion in Asia's third-largest economy, the head of the fund said before a
bilateral summit expected to yield several big business deals.
The RDIF and India's National Investment and Infrastructure Fund (NIIF) will each
invest up to $500 million in the joint fund, replicating partnerships the Russian entity
has with countries like China.

It also worked with Indian infrastructure investor IDFC to invest $1 billion in power
projects when President Vladimir Putin last visited India in late 2014.
India is courting international investors to help nance new roads, railways and power
projects that the country needs.
Putin will meet Indian Prime Minister Narendra Modi in the tourist destination of Goa
on Saturday for a summit at which major defence, oil and nuclear power agreements
are expected to be signed.
The RDIF-NIIF partnership will also be sealed at the summit. It will address around 20
investment proposals and seek to strike its rst deals in 2017, said Dmitriev.
Leaders of the BRICS caucus - Brazil, Russia, India, China and South Africa - will also
gather in Goa this weekend. The bloc has founded its own New Development Bank that
has co-invested in two RDIF-backed hydropower plants in Russia that have just broken
ground.
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NEWS
UPDATE 2-Kazakhstan's
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Dmitriev said he hoped that the Russian fund would

be able to draw on the platform of the BRICS bank to
build similar small-scale hydro projects in India that
are based on Russian technology.
(Reporting by Douglas Busvine, editing by Larry King)

Oil down as dollar rallies, rise in

U.S. rig count seen

EDITOR'S PICK

NEXT IN GLOBAL ENERGY NEWS

UPDATE 7-Oil down as

dollar rallies, rise in
U.S. rig count seen

China signs deals worth

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* First U.S. crude build in 6 weeks returns to

weigh on market

DHAKA Chinese President Xi Jinping, stepping up

a competition with India for regional inuence,
said on Friday ties with Bangladesh would be
enhanced to a strategic partnership as the two
countries signed 27 agreements worth billions of
dollars.

Militants ambush security convoy in

Kashmir, killing two

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Russianstatefundtocoinvest$1blninIndia|Reuters

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