Russia, Saudi Arabia to ink US$700 mil deal on aircraft leasing

Russia, Saudi Arabia to ink US$700 mil deal on aircraft leasing

Rail, petrochemical agreements are also expected to be signed during Vladimir Putin's visit.

Arrangement to lease planes expected to be worth the most among deals to be signed during Vladimir Putin’s visit. (File pic)
RIYADH:
Russia and Saudi Arabia will sign a US$700 million deal on aircraft leasing among other agreements during Russian President Vladimir Putin’s visit to Saudi Arabia on Monday, Sputnik news agency reported, quoting Russian Direct Investment Fund (RDIF) CEO Kirill Dmitriev.

Last week, the RDIF head said that one of the deals, which will be signed during the visit, would be worth US$700 million, but did not specify any details.

“(This will be a deal) in the area of aircraft leasing. This is one deal worth US$700 million … It will be one of the largest deals,” Dmitriev told reporters.

He added that many deals, related to railways, were also set to be signed in Riyadh on Monday.

“There will also be a deal in the area of petrochemistry, with (Saudi Arabia’s) Sabic, but not with (Russia’s) Sibur,” Dmitriev noted.

Putin is scheduled to visit Saudi Arabia on Monday. According to Kremlin aide Yury Ushakov, the agenda of the visit will include talks with the Saudi top officials with a focus on Syria, Yemen and the situation in the Persian Gulf, as well as the bilateral cooperation in defence and energy sector.

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