Russia-Japan Investment Fund to set up $789m chemical complex

Photo: Reuters

Russia-Japan Investment Fund – a joint initiative by the Japan Bank for International Corporation (JBIC) and Russian Direct Investment Fund (RDIF) – has teamed up with AEON Infrastructure Corporation to set up a $789-million chemical cluster,  RDIF said in a statement.

The project involves setting up of a methanol plant with 1 million tonne capacity slated for completion by late 2022.

“Its products will be highly competitive in the global market due to minimal production costs. We look forward to furthering collaboration with Japanese companies on new projects in Russia,” said RDIF chief executive Kirill Dmitriev in a statement.

AEON’s subsidiary GTM ONE has also signed an off-take contract through the chemical plant for Japan’s Marubeni Corporation. The engineering works will also be carried out through an agreement between GTM ONE and Mitsubishi Heavy Industries Engineering.

Through RJIF, both Russia and Japan have agreed to commit $500 million each to seek attractive investment projects to bolster trade, economic and investment cooperation.

The fund targets investments in healthcare, smart cities, energy, and technology. It also aims to develop industrial and export capacities in the Russian Far East region.

The Russian Far East has huge deposits of untapped petroleum, coal, and other mineral resources, which could support economic development and can be complementary for other economic sectors.

RDIF, which was established in 2011, has teamed up with several foreign investors and international financial institutions, including from China, India, Thailand, Saudi Arabia, and South Korea.

The fund is created for co-investments primarily in Russia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.