DP World to invest up to $2 bln in Russia’s port infrastructure

Russian Direct Investment Fund (RDIF) and one of the world leading port operators DP World have signed an agreement on investment in Russia’s port infrastructure via the establishment of a joint venture, according to a press release by RDIF.

Russian Direct Investment Fund (RDIF) and one of the world leading port operators DP World have signed an agreement on investment in Russia’s port infrastructure via the establishment of a joint venture, according to a press release by RDIF.

The investments of DP World in the development of Russian ports will amount up to $2 bln.

The relevant agreement has been signed by RDIF general director Kirill Dmitriev and Chairman of the board of directors of DP World Sultan Ahmed bin Sulayem in the course of the World Economic Forum in Davos.

Under the reached agreements, the share of RDID in the future company - DP World Russia - will amount to 20%, while DP World will hold 80%. DP World Russia will focus its investment activities in the sea ports and transportation and logistics terminals of Russian regions.

DP World will be the ideal partner for the development of the port industry in Russia, Kirill Dmitriev said as quoted by the press release. He also expressed hope for the establishment of an effective partnership which would be beneficial for Russia and the UAE.

DP World has a portfolio of more than 65 marine terminals on six continents, including terminals under construction in India and Africa, Europe and the Middle East.

First published by TASS.

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