Government may increase NWF resources for petrochemical projects

TASS Russian News Agency | Jan 18, 2021 at 2:56 PM

MOSCOW, January 18. /TASS/. Russian President Vladimir Putin tasked the government to explore the issue of increasing the amount of money from the National Wealth Fund (NWF) taken by the Russian Direct Investment Fund for investments into petrochemical and gas chemical projects, according to the list of assignments posted on the Kremlin's website on Monday.

"The issue of feasibility of increasing the amount of the National Wealth Fund resources attracted by the joint stock company Management Company of the Russian Direct Investment Fund for implementation of investments into petrochemical and gas chemical sector should be considered," the document says.

Proposals are to be submitted by May 31 of this year.

The quota of 10% from NWF for implementation of infrastructural projects was allocated earlier for RDIF. NWF resources are utilized in a range of projects with RDIF participation, including the Zapsibneftekhim petrochemical project launched on December 1, 2020.