The Russian Direct Investment Fund (RDIF), the sovereign fund of the Kingdom of Bahrain Mumtalakat and Binnopharm Group (part of Sistema JSFC) agreed to build a plant in the Kingdom of Bahrain to produce the Russian vaccine Sputnik V. The agreement was signed on the sidelines of the St. Petersburg International Economic Forum (SPIEF), the Russian fund said.
"As part of the partnership, the funds have joined forces to fight the spread of the coronavirus and intend to set up production of Sputnik V in Bahrain," the RDIF added.
The Sputnik V vaccine was approved in the kingdom under an accelerated registration process in February of this year. The products of the Bahrain facility are expected to be supplied to markets in the Middle East and North Africa.
In 2014, the RDIF and Mumtalakat signed a partnership agreement to strengthen economic and investment cooperation between Russia and Bahrain. "Together with Mumtalakat, we are successfully implementing a joint investment program. We are pleased to expand our partnership to establish a venture in Bahrain to produce Sputnik V," commented Kirill Dmitriev, CEO of the RDIF.
GSV "Russia - Islamic World"
Photo: Julia Bubnova / TASS
Based on materials from TASS