DP World to invest in Russia
Dubai-headquartered terminal operator DP World has announced that it is launching a new joint venture (JV) with state-owned Russian investment fund to upgrade ports and logistics infrastructure in Russia.
The JV, in which the operator will own an 80% shareholding and Russian Direct Investment Fund (RDIF) the remaining 20%, will be called DP World Russia.
DP World claimed in a statement that the new company is expected to invest over time a total of US$2bn in upgrading Russian ports as well as introduce international best practices in operations to improve trade connectivity at the advantage of Russian businesses and consumers.
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