Russia to boost investment in Serbian economy & increase gas supplies

Russia to boost investment in Serbian economy & increase gas supplies
Russia’s sovereign wealth fund and its partners are planning to increase investments in Serbia, with $500 million likely to be added in the next two years. Current Russian investments in the country total $4 billion.

That’s according to the head of the Russian Direct Investment Fund (RDIF), Kirill Dmitriev, who arrived in Serbia on Thursday as part of the Russian delegation led by President Vladimir Putin.

“Our (RDIF) partners are the largest sovereign funds of Asia and the Middle East,” Dmitriev explained to journalists after Putin’s meeting with Serbian President Aleksandar Vucic.

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“We are going to invest, for example, in developing of Phosagro project. They have a large base of fertilizers here and are considering the opportunity to expand it, because Serbia is a very good logistic hub for Russian fertilizers to Europe,” Dmitriev said.

Moscow is also mulling the possibility of increasing gas supplies to Serbia, according to Energy Minister Aleksandr Novak, who said the sides discussed extending the Turkish Stream gas pipeline to the country.

READ MORE: I consult with Putin all the time & tell him the truth even when he doesn’t like it – Serbia’s Vucic

Russia and Serbia are also planning to sign an intergovernmental agreement on cooperation in peaceful atomic energy. “The Serbian side is very serious about resetting its nuclear industry,” the head of Russian Rosatom Corporation, Aleksey Likhachev, said.

He added that “For the first time, the agreement includes issues of cooperation in the innovation and digital sphere.”

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