MODENA and RDIF Explore ICT Joint Venture
Jakarta, ID – MODENA Group and the Russian Direct Investment Fund (RDIF) have signed an investment cooperation agreement regarding information and communications technology (ICT). Both parties are exploring the possibility of forming a joint venture in the Russian Federation and the Republic of Indonesia.
MODENA Group is an Indonesian-owned multinational company with a diverse business portfolio across various industrial sectors, including ICT products. RDIF is Russia’s sovereign wealth fund.
The strategic cooperation agreement was signed on the sidelines of the St. Petersburg International Economic Forum in Russia on 4 June 2026.
Through this cooperation, RDIF and MODENA will focus on developing industrial and manufacturing projects in both countries, including the potential formation of joint ventures, technology transfers, and production localisation initiatives.
High-tech development and digital transformation are also key components of the collaboration, encompassing MODENA’s Seamless ICT solutions and artificial intelligence (AI) technologies from Russia.
Both parties have also agreed to support the expansion of Indonesian companies into the Russian market, while simultaneously opening opportunities for cross-border cooperation for Russian companies looking to develop their business in Indonesia.
“This partnership serves as a foundation for delivering joint industrial projects, expanding manufacturing capacity, and accelerating the localisation of high-value technology in both Russia and Indonesia,” said RDIF CEO Kirill Dmitriev.
By combining RDIF’s investment capabilities with MODENA’s industrial expertise, the partnership aims to help reduce various operational and regulatory barriers, while supporting companies from both nations in entering new markets.
“Ultimately, this cooperation is designed to drive real economic growth and maximise the opportunities present amidst the rapid economic development of Russia and Indonesia,” he added.
Regarding Indonesia’s market potential, MODENA Executive Vice President Michael Jizhar stated that Indonesia is entering a crucial phase of transformation, where innovation and technology will play an increasingly significant role in driving sustainable growth.
“Through our partnership with RDIF and various leading Russian companies, we aim to accelerate this journey by exploring opportunities in the manufacturing, AI, and ICT sectors,” said Jizhar.
MODENA sees great potential for Indonesia to take a more significant role in the global innovation ecosystem, and this partnership is a vital step in building long-term technological resilience and strengthening cross-border collaboration.
With its leadership in the electronics and manufacturing industries, MODENA has transformed into a multinational group with operations across 12 key sectors, including electronics, energy, clean water solutions, mobility, heavy industry, telecommunications, retail, engineering & construction (E&C), logistics, medical equipment, ICT, and financial services.
Supported by an expanding global industrial footprint, MODENA provides strong capabilities and cross-sector expertise, creating new industrial opportunities and driving sustainable growth.