Russias sovereign wealth fund Russian Direct Investment Fund (RDIF), Saudi Basic Industries Corporation (SABIC) and ESN Group to build and operate a methanol plant in the Amur Region.
Details are provided below:
- The new plants annual capacity is expected to be up to 2 mn tonnes of methanol
- ESN Group is a private equity group in Russia with a portfolio of investments in various industries.
- Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said: RDIF is consistently building up investment partnerships with companies from the Kingdom of Saudi Arabia. Today we have reached an agreement with SABIC and ESN Group and will build a modern methanol plant in the Far East. This plant will boost local tax revenues and help create additional jobs.