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State Bank of India and Russian Direct Investment Fund To Invest $2 Billion In Cooperation Projects-Reuters

Monday, 24 Dec 2012 02:24am EST 

Reuters reported that State Bank of India and Russian Direct Investment Fund (RDIF), a sovereign wealth fund will jointly invest up to $2 billion to promote trade and economic cooperation projects, the Russian fund said in a statement. The agreement, under which the two sides would invest up to $1 billion each, came as Russian President Vladimir Putin visited India on December 24, 2012. RDIF said the two firms will work together to facilitate access to long-term capital in Russia and India and promote mutual investments between the two countries. The firms will invest in infrastructure development and facilities to extract and process natural resources, it added. 

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