RDIF has a broad view of infrastructure and it will also look at transport companies. “Automobile company Kamaz is interested in setting up a company in India and we will be interested to invest in that. There is a big interest for us in the transport machinery sector and in petrochemicals,” said Dmitriev. The fund will have an investment horizon of seven years and will examine ticket-sizes ranging from $50 to $150 million.
The agreement to set up the fund is expected to be signed in the presence of Prime Minister Narendra Modi and Russian President Vladmir Putin. RDIF is also an investor in the first project funded by the New Development Bank (Brics Bank) which comprises small hydropower projects in Karelia, Russia. “We would like to fund similar hydro projects in India,” said Dmitriev.
In the past, RDIF has followed the same model to invest in Russian companies. It has partnered with investors in China, UAE, Kuwait, Saudi Arabia.