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Russia-China Investment Fund (RCIF), established by the Russian Direct Investment Fund (RDIF) and China Investment Corporation (CIC), will have a joint investment with OJSC Far East and Baikal Region Development Fund to finance the construction of the first rail bridge across the Amur River.
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 railway bridge's construction will create a new export corridor between Russia and China, and alleviate transport constraints between new fields being developed in Russia's Eastern Siberia and the Far East.
The project will allow Russia to increase its annual exports to China by 21 million tons and shorten the journey between the two countries by 700 kilometers. It will also facilitate the creation of a new export corridor for gas and oil fields being developed in eastern Siberia and the Far East.
Kirill Dmitriev, co-CEO of Russia-China Investment Fund (RCIF), stated:
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).
Russian 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.
The Far East & Baikal Region Development Fund (Vnesheconombank Group) is a development institute established in 2011. The Fund promotes the comprehensive development of investment activities by supporting infrastructure and industrial projects in the Far East and the Baikal Region.