26 Oct 2017 10:00

RDIF, partners to participate in project to build city of future in Saudi Arabia

RIYADH. Oct 26 (Interfax) - The Russian Direct Investment Fund (RDIF) and its leading Russian and international partners will participate in the project to build the city of the future, Neom, in Saudi Arabia, RDIF head Kirill Dmitriev told reporters on the sidelines of an investment forum in Riyadh.

The construction of the city of the future was announced at the forum by Saudi Crown Prince Mohammed bin Salman.

Dmitriev said that, under agreements reached at the forum, as part of its work on the project to build Neom the RDIF will help attract leading Russian high-tech companies in the following main areas: solar power, healthcare and education, artificial intelligence technology, high-speed transport, as well as port infrastructure for handling agricultural products.

"We're pleased to have the opportunity to take part in such an ambitious project, which will combine the application of new technologies from completely different areas, from renewable energy and advanced transport and port infrastructure to AI technology. The RDIF intends to act as a co-investor with other international funds, as well as attract leading Russian companies to the construction of the city of Neom, thus promoting their high-tech expansion on the promising markets of Saudi Arabia and the whole Middle East," Dmitriev said.