Saudi Arabia is currently discussing with Russia a strategic partnership to build a giant vaccine production and distribution center. The centre to serve the entire Middle East and Africa region, according to a high-ranking Russian official.
CEO of the Russian Direct Investment Fund (RDIF), Kirill Dmitriev, also announced that Riyadh discusses with one of Russia's largest influenza vaccine producers building a production and distribution center in Saudi Arabia for the entire MENA region.
Dmitriev announced the coronavirus pandemic demonstrated the need to increase global capabilities to produce vaccines. He also noted that the project involves plans that will contribute to combating pandemics in the future.
"We are considering several projects with our Saudi partner; the Saudi Agricultural Investment and Animal Production Company (SALIC). They are also willing to invest in large poultry farms in Russia with the possibility of exporting," said Dmitriev.
The CEO also hinted that there is an opportunity for the two countries to develop their grain trade, especially considering the big potential of exporting Russian wheat to the Kingdom after sending its first shipment earlier this month.
Dmitriev explained that Russia agreed to put differences aside with Saudi Arabia and work together to reach a deal that includes members of OPEC + and other oil producing countries.
Moscow is ready to cooperate with Riyadh, in order to stabilize global oil markets; starting from their joint responsibility towards OPEC + producers and consumers, stressed Dmitriev.
"Russia and Saudi Arabia, which have been working closely with the United States and other countries, can restore stability to global energy markets."
Russian Direct Investment Fund (RDIF)'s main goal is to co-invest alongside top global investors. It acts as a catalyst for direct investment in Russia.
Saudi Agricultural and Livestock Investment Company (SALIC) is a Saudi joint stock company, the Public Investment Fund (PIF) owns it. It is also involved in the field of investments in agricultural and livestock production.