SOCHI, Nov 10 (Reuters) - Kuwait's sovereign wealth fund, the Kuwait Investment Authority (KIA), has allocated an additional $500 million to investment projects in Russia in partnership with the Russian Direct Investment Fund (RDIF), the RDIF said on Tuesday.

The RDIF said the deal was signed on Tuesday in Sochi, in the presence of Russian President Vladimir Putin and the Emir of Kuwait, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah.

This follows $500 million which KIA allocated for investment with RDIF in 2012.

(Reporting by Denis Dyomkin, writing by Jason Bush) ((jason.bush@thomsonreuters.com; +7 495 775 1242; Reuters Messaging: jason.bush.reuters.com@reuters.net))