RDIF, Russia’s sovereign wealth fund, announces a strategic partnership with China Energy Engineering Corporation (CEEC), one of the world’s leading providers of large scale power generation.
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RDIF and China Energy Engineering Corporation announce strategic partnership in power industry
1. RDIF and China Energy Engineering Corporation announce strategic
partnership in power industry
Saint-Petersburg, June 6, 2019 - The Russian Direct Investment Fund (RDIF),
Russia’s sovereign wealth fund, announces a strategic partnership with China Energy
Engineering Corporation (CEEC), one of the world’s leading providers of large scale
power generation. The agreement was signed today at the St. Petersburg International
Economic Forum.
CEEC operates in various segments of power generation (hydropower, nuclear and
solar energy), with its own dedicated research base. The company also has extensive
experience within the construction of infrastructure (roads, bridges, airports).
Following the agreement, the first project will be the construction of facilities for the
Shchekinskaya power station in the Tula Region. In the future, the origination and
development of projects will be conducted in both the Russian Federation and in CIS
countries.
Kirill Dmitriev, CEO of the RussianDirectInvestment Fund (RDIF), said:
“The growing market demand for energy resources and infrastructure highlights the
relevance of such large projects. We expect that this strategic partnership with CEEC
will enable the construction of highly advanced energy infrastructure, further increase
cooperation in one of the key sectors of the economy and continue to strengthen ties
with China - our largest partner in Asia”.
Dong Bin, Presidentof China EnergyCo., Ltd, said:
“The successful Execution of Bulk projects in Russian Federation is up to strong
financial resource, it’s our great pleasure to commence the strategic partnership with
RDIF, we believe two parties will be unified mutually and conduct the bright future.
We should cherish every movement we will make and look forward to the Win-Win”.
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Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund
established in 2011 to make equity co-investments, primarily in Russia, alongside
reputable international financial and strategic investors. RDIF acts as a catalyst for
direct investment in the Russian economy. RDIF’s management company is based in
2. Moscow. Currently, RDIF has experience of the successful joint implementation of
more than 70 projects with foreign partners totaling more than RUB 1.5tn and
covering 95% of the regions of the Russian Federation. RDIF portfolio companies
employ more than 700,000 people and generate revenues which equate to more than
5% of Russia’s GDP. RDIF established joint strategic partnerships with leading
international co-investors from more than 15 countries that total more than $40bn.
Further information can be found at www.rdif.ru
China Energy Engineering Corporation (Energy China) is one of the biggest
comprehensive solutions providers for the power sector and infrastructure project in
China and the world. Energy China has very strong competition in thermal power,
hydropower, solar power, wind power, transmission line and substation, and other
infrastructure projects such as roads, bridges, railways, water supply, water treatment,
irrigation, seaport, airport, housing and so on. Energy China has provided services in
more than 100 countries and regions, including one-stop integrated solutions and full
life-cycle project management services. On December 10th, 2015, Energy China
launched into stock market in Hong Kong Stock Exchange (3996.HK). Energy China
has invested and financed annually over $6 billion for the energy construction and
other infrastructure construction in the overseas market. The company enjoys strong
net cash flow and top-grade "AAA" credit rating.
For additional information contact:
Arseniy Palagin Maria Shiryaevskaya/ Andrew Leach
Russian Direct Investment Fund Hudson Sandler
Press Secretary Tel: +44 (0) 20 7796 4133
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
E-mail: arseniy.palagin@rdif.ru