MODENA Group Partners with Russian Sovereign Wealth Fund for Manufacturing Investment
The Russian government’s sovereign wealth fund, the Russian Direct Investment Fund (RDIF), has officially established a strategic partnership with the Indonesian multinational conglomerate, MODENA Group. This cooperation was formalised through the signing of a memorandum of understanding aimed at stimulating mutual investment and strengthening economic ties between the Russian Federation and the Republic of Indonesia.
The signing ceremony took place during the St. Petersburg International Economic Forum on 4 June 2026. Under this agreement, both parties have committed to directing funding towards the manufacturing sector and the development of large-scale commercial projects in their respective regions.
The planned actions for this collaboration include exploring the establishment of joint ventures, the exchange of technological expertise, and efforts towards the localisation of production facilities. Beyond heavy industry, the integration of cutting-edge digital systems, such as MODENA’s Seamless ICT platform and the adoption of advanced Russian artificial intelligence (AI), is also a priority agenda.
Through this partnership, both institutions have agreed to facilitate market penetration for Indonesian corporations seeking to expand their operational reach into Russia. Conversely, potential Russian businesses will be provided with streamlined access and support to invest capital and develop their operations within Indonesia.
Kirill Dmitriev, CEO of RDIF, stated that this alliance serves as a strong foundation for realising integrated industrial projects, increasing manufacturing output, and accelerating the implementation of high technology in both nations. The synergy between RDIF’s capital and MODENA’s operational technical capabilities is expected to reduce bureaucratic and market regulatory hurdles.
MODENA management representatives explained that Indonesia is currently undergoing a crucial transformation prioritising sustainable innovation. This collaboration is viewed as a strategic momentum for Indonesia to elevate its position in the global innovation supply chain and build long-term technological independence.
Originally renowned for its strength in the electronic appliances industry, MODENA has expanded its business into dozens of strategic sectors. The company’s global portfolio now encompasses renewable energy, telecommunications, electric mobility, logistics, construction, medical devices, and financial services. With an international business track record, the Indonesian group brings valuable cross-sector expertise to this partnership, which is believed to open new resilient economic growth opportunities and create a lasting positive impact for both parties.