Rustam Minnikhanov met with Ambassador extraordinary and plenipotentiary of the Kingdom of Saudi Arabia to Russia

The Kingdom of Saudi Arabia is considering the opportunity of opening the consulate in the Republic of Tatarstan. The decision has not been made yet but this issue is under consideration. Such information was given by Ambassador extraordinary and plenipotentiary of the Kingdom of Saudi Arabia to Russia Ali Hassan Jaafar at a meeting with President of Tatarstan Rustam Minnikhanov.

The meeting was held within the frameworks of III International Islamic business and Finance Summit KazanSummit (Kazan, KRK “Pyramid”).

The Kingdom of Saudi Arabia was presented by CEO of «Foras Investments» Hatim Jamil Muhtar, Executive manager of «Foras Investments» Halid Rabah al-Harbi ad others.

Mr Ambassador of the Kingdom of Saudi Arabia conveyed greetings on behalf of leadership of his country to Tatarstan President and his people. He expressed hope towards promoting a set of projects being realized today jointly by Saudi Arabia and Tatarstan. “Two years ago I promised to help you with attracting investments in Tatarstan and other Russian regions. I will keep my word. Tatarstan international investment company founded in March 2010 may serve as a result of successful cooperation”, - he said.

CEO of «Foras Investments» Hatim Jamil Muhtar told about realization of projects jointly with «Foras Investments» in Tatarstan. In particular, attraction of venture capital at the amount of 50 mln. US dollars in republic (a joint project of Tatarstan international investment company and VTB). These funds are meant to be used for developing projects in the sphere of nanotechnologies and IT. Moreover, it is planed to open a centre in republic suggesting leasing of equipment, mechanisms and machinery for the needs of small and medium enterprises (project costs – 20 mln. US dollars).

Officials of «Foras Investments» are also interested in renting agricultural lands with total area of 10 000 hectares for realization of projects in agricultural sector. The company already realizes similar projects in Sudan and Senegal.

President of Tatarstan Rustam Minnikhanov promised to assist in promoting joint projects. He thanked Ambassador extraordinary and plenipotentiary of the Kingdom of Saudi Arabia to Russia Ali Hassan Jaafar for everything he did for Tatarstan.

R.Minnikhanov reminded that on May 28 2011 Chairman of chamber of commerce and industry of the Kingdom of Saudi Arabia sheikh Salekh Abdalla Kamel visited Kazan. Memorandum on mutual understanding was signed by Chambers of commerce and industry of Tatarstan Republic and Saudi Arabia.

The event was attended by Director of Department for external relations – Aide to RT President on international issues Iskander Muflikhanov, Head of RT Agency for investment development Linar Yakupov, RT Minister of industry and trade Ravil Zaripov, Permanent representative to RF President under Organization of the Islamic conference (OIC) Kamil Iskhakov.