The Russian Direct Investment Fund (RDIF)
The Russian Direct Investment Fund (RDIF), Indian Potash Ltd and producers of phosphate-containing fertilisers PhosAgro Friday announced joint investments in mineral fertiliser production in Russia and India.
As per the agreement, PhosAgro is expected to supply mineral fertilisers to Indian firms on a long-term basis. PhosAgro has agreed to supply a maximum of 2 million tonne (MT) during 2019-2021 which is estimated to have a potential value of $1 billion, the company was quoted as stating in its press release.
“This cooperation agreement significantly contributes to the development of Russia’s high-tech non-energy exports and gives an additional impetus to further investments into our mineral fertilisers sector, which in turn will bolster Russia’s and India’s food security and increase trade between our countries,” PhosAgro CEO Andrey Guryev was quoted.
