Russia to set up $5bn Joint Fund with Egypt

Egypt plans to complete establishment of US$5 billion joint fund with the Russian Direct Investment Fund and Arabian sovereign wealth funds in 2015, Minister of Industry Mounir Fakhry Abdel Nour told TASS.

The minister said the most important project they have is to establish the joint fund with the Russian Direct Investment Fund with the amount nearly $5 billion for investments into industry and infrastructure.

The fund plans to invest into construction of subway, railway, logistics center and travel center, the minister added.

The minister said he believes everything will take place quickly, in several months, because everyone is enthusiastic in respect of this project. Definitely this year, he added.

Source: Reuters