Investment Deals Signed between Russia and 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 endeavor to be a significant player in the international energy market."
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