Russia mulls investment in Saudi tourism projects, says RDIF CEO

The Russian Direct Investment Fund (RDIF) is discussing with large Russian companies the possibility of investing in Saudi Arabia’s travel & tourism projects, Russian news agency TASS, reported on Wednesday citing the head of RDIF Kirill Dmitriev.

"As for tourism, we are working with a number of major Russian companies so that they invest in various tourism projects in Saudi Arabia and, accordingly, participate in the construction of the infrastructure,” Dmitriev told reporters on the sidelines of the Future Investment Initiative (FII) forum, currently underway in Riyadh.

Dmitriev further added that the RDIF is discussing with the PIK Group of companies, one of the largest Russian developers, the possibility of building a plant in Saudi Arabia, as well as the developer’s participation in the construction program in the Kingdom.

"Yesterday, we advanced far ahead on the topic of tourism and construction in Saudi Arabia. We discussed with the PIK Group a possibility of building a plant in Saudi Arabia and the group’s active participation in the large-scale construction program underway in Saudi Arabia," he said.