CW In Focus | Russia and Saudi Arabia – a business prediction
What does the future hold for two global superpowers in the energy sector?
Russia and Saudi Arabia have agreed a $10bn investment partnership that will see the pair's sovereign wealth funds pump money into energy and manufacturing projects.
The agreement comes at a time of an ever-strengthening bilateral relationship between the two petroleum superpowers, who are working closely together to stabilise the oil market.
Russian President Vladimir Putin and Saudi Arabia's HRH Crown Prince Mohammed bin Salman bin Abdulaziz have struck up a friendly relationship, too. This could be seen when the pair high-fived at the G20 Summit in Buenos Aires, Argentina, last year.
In this video, Construction Week's deputy editor, Oscar Rousseau, looks at why the Russian Direct Investment Fund's plan to invest more in #SaudiArabia is significant for the future.
Construction Week In Focus is a twice-weekly bulletin of the Middle East's top news from the real estate development and contracting. The series is hosted on Construction Week's YouTube channel, alongside weekly series published by its sister titles. The latter includes MEP Engineered by MEP Middle East, FM Live by facilities management Middle East, and Heavy Metal by PMV Middle East.
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Construction Week In Focus episodes are published each Sunday and Wednesday. Heavy Metal episodes are published on Mondays, and FM Live updates are presented on Tuesdays. MEP Engineered rounds off the week each Thursday. All videos are published at 4.30pm Dubai time.