RDIF, NPS, Lamar Arabia Holding to implement infrastructure projects

ST. PETERSBURG, June 5. /TASS/. The Russian Direct Investment Fund (RDIF), Natsproektstroy (NPS) group of companies, and Lamar Arabia Holding W.L.L (Saudi Arabia) have signed a partnership agreement for the joint implementation of infrastructure and energy projects, Russian President’s Special Representative, RDIF Chief Executive Officer Kirill Dmitriev said at the St. Petersburg International Economic Forum (SPIEF).

"Saudi Arabia is currently implementing a large-scale infrastructure modernization program as part of its Vision 2030 strategy, and Russian companies possess significant expertise that could be useful in implementing such projects. Joint work under the signed agreement will open up new attractive investment opportunities in leading sectors such as transportation, energy, and high-tech engineering infrastructure, and will continue to strengthen practical economic cooperation between Russia and Saudi Arabia," he said.

The partnership aims to develop and implement joint projects in Russia and Saudi Arabia (including within the framework of the Vision 2030 strategy), as well as in other countries, primarily in the Middle East, North Africa, and Asia. Priority areas of cooperation include projects in the transport sector, as well as energy, social, and engineering infrastructure.

Natsproektstroy Group is one of Russia’s leading infrastructure holding companies, which unites over 100 companies and employs over 100,000 people. NPS has expertise in design, engineering, and construction of transport and energy infrastructure areas. Lamar Arabia Holding is a leading developer of large-scale public-private partnership projects in the Persian Gulf region in the oil and gas, water supply, and social infrastructure sectors.

The St. Petersburg International Economic Forum is taking place on June 3-6. This year’s theme is "Pragmatic Dialogue: the Path to a Stable Future." The forum program is dedicated to shaping a new model of global development amid the ongoing transformation of the world economy.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, and the Ensuring Drug Security Forum. As part of the cultural program, the Petersburg Seasons festival and the traditional SPIEF Sports Games will take place. This year, Russia’s national economic development institution VEB.RF is the title partner of SPIEF.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its official general information partner.