VEB and AHQ group of companies will jointly develop Gulf projects

Building of VnesheconombankBuilding of Vnesheconombank in Moscow. (Image source: Mrduk/Commons)Russian state-owned bank, Vnesheconombank and Abdel Hadi A. Al-Qahtani & Sons Group of Companies (AHQ, Saudi Arabia) signed MoU in Moscow on 4 October 2017

VEB and AHQ agreed to build long-term collaboration and business relationship for the mutual benefit of both Parties and their affiliates. AHQ is interested in business activities with Russian companies with the support of VEB. The document was signed by Sergey Gorkov, Chairman of Vnesheconombank, and Tariq Abdel Hadi Al-Qahtani, Chairman of AHQ.

Sergei Gorkov: "The Near East region is very interesting for VEB in terms of raising capital, joint financing projects and supporting exports. It is important for us to build relationships with companies and institutions of the Gulf countries in order to create opportunities for international investment projects".

Tariq Abdel Hadi Al-Qahtani: "I believe this agreement is the first and very important step of our cooperation. There are several important areas like chemical industry, agriculture, aviation and automobile industries where we can efficiently work together. Moreover, financial infrastructure will be highly significant for expanding the cooperation between the markets of our countries and reaching new opportunities".

Abdel Hadi A. Al-Qahtani & Sons Group of Companies was founded in the 1940s in the Kingdom of Saudi Arabia. Nowadays it is a global highly diversified group of companies, specializing on a wide range of activities including, Industrial and Technical Support, supply of Heavy Machinery and Electronic Equipment, Agriculture, commercial aviation and other activities.

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