Abu Dhabi – Mubasher: Mubadala Development Company (Mubadala), the Abu Dhabi-based investment and Development Company, Russian Direct Investment Fund (RDIF) and investment funds have confirmed plans for their interest in two potential investments in the Russian agricultural and food production sectors.

The consortium has agreed to deal terms for an investment in AFG National, Russia’s leading vertically integrated producer and distributor of rice, said a press release by RDIF.

Upon close, the investment will be up to 9 billion rubles, with funds used by AFG National to increase the volume of agricultural production.

Separately, RDIF, Mubadala and other investment funds have signed a Memorandum of Understanding to jointly evaluate a co-investment opportunity of approximately 10 billion rubles in EFKO Group.

EFKO is among the three largest agricultural companies in Russia.

The proceeds of this investment will be used to finance the Group’s long-term growth, including expansion into the CIS, Middle Eastern and Asian markets.