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Russian Direct Investment Fund will invest in the state-controlled shipping giant Sovcomflot

Russian Direct Investment Fund will invest in the state-controlled shipping giant Sovcomflot

Moscow, September 28 - Neftegaz.RU. The Russian Direct Investment Fund (RDIF) is going to invest in Sovcomflot, RIA Novosti cites RDIF CEO Kirill Dmitriev.

“The Far East is of prime priority for us. Together with our partners we have already invested several billion of dollars in a number of projects there ... Our particular plan is to invest in Sovcomflot and other companies in the region”, said Kirill Dmitriev.

Reuters reported that Sovcomflot plans to raise at least $500 million in an initial public offering (IPO) on the Moscow Exchange, in a deal that could value it at roughly $10 billion.

Sovcomflot (SCF) aims to list in early October, 2 sources familiar with the plans told Reuters.


When commenting on Sovcomflot’s announcement, Anton Siluanov, Minister of Finance of the Russian Federation, said that the state share in authorized capital of Sovcomflot may be decreased to 75% plus one share according to a 3-year privatization plan.

RDIF was created in 2011 under the leadership of the President and Prime Minister of Russia to co-invest alongside top global investors, acting as a catalyst for direct investment in Russia.

Sovcomflot (SCF) is one of the world's leading energy shipping companies, specialising in the transportation of crude oil, petroleum products, and liquefied gas, as well as the servicing of offshore oil and gas production.

SCF’s fleet comprises 147 vessels with a total deadweight of over 12.7 million tonnes, including vessels owned through joint ventures. More than 80 vessels have an ice class.