GenFund to invest over $1 billion into agricultural projects in Russia’s Far East

The Asian investment fund Generations Fund (GenFund) will invest over $1 billion into Russian Far Eastern projects of agricultural holding Rusagro and the Nakhodka Fertilizer Plant, Alexei Chekunkov, the director general of the Far East Development Fund (FEDF), told TASS.

Chekunkov said that the relevant agreement between GenFund and FEDF was signed on September 8 ahead of the 4th Eastern Economic Forum in Vladivostok.

"The first deals of GenFund will comprise $600 million of investments into Far Eastern projects of Rusagro group and up to $440 million of investments into the development of Nakhodka Fertilizer Plant’s gas chemical project," Chekunkov said.

According to the FEDF chief, the announced sum will total over half of the initial capital of GenFund, which was established in the summer of 2018.

The 2018 Eastern Economic Forum (EEF) will be held in the Russian Far Eastern city of Vladivostok on September 11-13. The TASS news agency is the forum’s general information partner, an official photo host agency and a moderator of the EEF investment projects’ presentation zone.