Gulftainer eyes Russian potential
International operator Gulftainer has said that it sees “considerable potential” in the Russian port market in light of Vladimir Putin’s announcement that he would like to see more private investment in national ports.
Managing director Peter Richards told Port Strategy: “Gulftainer sees considerable potential in the Russian transport market. For such a large country, Russia has very few ports and these ports have to compete with neighbouring countries for shipping and transport business.
“As a private entity, we see many opportunities to expand and develop existing and new Russian transport infrastructure both along the 20,000km of coast line and also through an integrated support infrastructure inland.”
However, Mr Richards drew attention to the need for the right bureaucratic support in Russia to attract foreign investment. “The Government is an essential partner in this process and, with the right legal and procedural structure in place, Russia should experience significant developments in its supply chain network in the coming years.”
Gulftainer signed a joint venture agreement with Prominvest, the financial and investment arm of Russian State Corporation, Russian Technologies, in 2010 to pursue investments and management opportunities in the country.