DP World to invest as much as $2 bln to upgrade Russian ports

24/01/2016 Argaam

Dubai-based ports operator DP World has agreed to invest as much as $2 billion after forming a joint venture with Russian Direct Investment Fund (RDIF) to upgrade ports, transportation and logistics infrastructure in Russia.

 

DP World will hold 80 percent stakes in the new joint venture company – named DP World Russia – and the remaining 20 percent will be held by RDIF, the company said in a statement.

 

“This joint venture allows DP World and RDIF to build on each other’s strength,” DP World chairman Sultan Ahmed Bin Sulayem said.

 

DP World currently operates more than 65 marine terminals across six continents. It will introduce new practices to Russian ports to improve trade connectivity, and upgrade ports facilities. 

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