The Russia-China Investment Fund, set up by the two countries’ sovereign wealth funds, plans to invest in a zinc and lead mining project close to their border, people with knowledge of the discussions said.
Russia may pivot to Asia should the proposed U.S.-European Union free-trade agreement hurt its businesses, said Kirill Dmitriev, the Chief Executive Officer of the $10 billion Russian Direct Investment Fund.
The Russian Direct Investment Fund will focus on attracting investors to the government’s $14 billion asset sales rather than taking large shareholdings itself, Chief Executive Officer Kirill Dmitriev said.
China Investment Corp., the nation’s sovereign-wealth fund, agreed to contribute $1 billion to a Russian private-equity vehicle, the first foreign commitment to a project championed by President Dmitry Medvedev.
Prime Minister Vladimir Putin will probably push for greater transparency and efficiency at state- run companies after he’s elected president again March 4, said Kirill Dmitriev, head of the Russian Direct Investment Fund.