Investment deals signed between Russia and India
12 January 2015RUSSIA/INDIA – The Russian Direct Investment Fund (RDIF) and Indian financial services company IDFC will each invest USD 500M in infrastructure projects in the two countries. The agreement was signed during a state visit by Russian president Vladimir Putin last month.
Concurrently, a memorandum of understanding was signed between the RDIF and Tata Power to "develop investment opportunities" in the Russian energy sector. Tata Power's experience in constructing various non-petroleum energy generation plants (thermal, hydro, solar, wind) is key for Russia.
Kirill Dmitriev, CEO of the RDIF said: "RDIF has identified the energy sector as one of its key priorities for increasing Russia's economic efficiency and sustainability. [This deal will] provide opportunities to leverage Tata Power's expertise in renewable energy production."
Anil Sardana, CEO & Managing Director of Tata Power, said: "Tata Power looks forward to working with [RDIF] on identifying opportunities across the energy chain, thereby strengthening India's relations with Russia. The signing of this MOU is a significant milestone for Tata Power and we endeavour to be a significant player in the international energy market."
