RJIF to collaborate in the Russian bioenergy industry
Moscow, May 26, 2018 – The Russian Direct Investment Fund (RDIF) and JBIC IG Partners (JBIC IG, a subsidiary of the Japan Bank for International Cooperation (JBIC)) as part of the Russia-Japan Investment Fund (RJIF, launched by RDIF and JBIC), together with RFP Group and Japan’s Prospect Co., Ltd. have agreed to collaborate and consider potential investments in Russia’s biofuel industry. A corresponding agreement was announced at the St. Petersburg International Economic Forum.
As part of the agreement, the parties plan to cooperate on a project to process timber industry waste into wood pellets for energy production. The project involves the construction of a pellet production plant, with a total capacity up to 135,000 tons per year. Construction of the first facility is expected to start in the summer of 2018, with pellet production to start in 2019. Parties plan to explore further increase of capacity and construction of additional plants with a capacity circa 500,000 tons per year. A significant volume of the product will be exported to Japan.