A new rail bridge across the Amur River to connect Russia with China’s Heilongjiang province (Manchuria) was among the many deals announced during Putin’s visit to China. Here is the press release that appeared on the website of the Russian Direct Investment Fund (RDIF):
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Shanghai, May 20, 2014 – Russia-China Investment Fund announces a joint investment with OJSC Far East and Baikal Region Development Fund to construct the first ever railway bridge over the Amur river on the border between the Russia and China. The new bridge will have a capacity of up to 21 million tonnes per year and will connect the Jewish Autonomous Region with the Chinese province of Heilongjiang. The signing ceremony will be held as part of the Russian President’s working visit to China.Construction of the railway bridge will create a new export corridor between Russia and China and alleviate transport infrastructure constraints between new fields being developed in Eastern Siberia and the Far East. The bridge will also significantly increase the turnover of goods and the competitiveness of Russian producers and exporters, reducing transportation distances to the end consumer by around 700 km, compared with other existing export rail routes.Kirill Dmitriev, co-CEO of Russia-China Investment Fund (RCIF), said:“RCIF not only builds financial bridges between Russia and China, but also invests in the infrastructure to benefit both countries. Railway border crossings in the region are currently operating close to maximum capacity. The future development of new natural resource deposits and increased level of traffic over the next 10 years means the region could face a shortage of export transportation capacity. The construction of a bridge across the river Amur is an important step in modernizing the Far East transport infrastructure and will help to prevent breakdowns in the regional transport network”.***Russia-China Investment Fund (RCIF) is a private equity fund investing in unique opportunities brought out by rapid development of economic cooperation, fast growing trade, and increasing purchasing power of the middle class in Russia, China and CIS countries. The Fund was created by the Russian Direct Investment Fund (RDIF) and China Investment Corporation (CIC). RCIF emphasizes cross-border transactions, as well as investment opportunities within the region across a broad range of sectors to facilitate the structural adjustment and the improvement of quality of those countries’ economies. Further information at www.rcif.comRussian Direct Investment Fund (RDIF) was established in 2011 to make equity co-investments primarily in Russia alongside reputable international financial and strategic investors. Based in Moscow, RDIF’s management company is a 100% subsidiary of Vnesheconombank. Further information at www.rdif.ruMedia contacts:Maria MedvedevaRussian Direct Investment FundDirector, Media Relations DepartmentTel: +7 495 644 34 14, ext. 2141Mobile: +7 964 726 17 73E-mail: mm@rdif.ruHudson SandlerAndrew Hayes / Maria Ignatova / Elena KuzaTel: +44 (0) 20 7796 4133
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