ASIA

DP World to invest in Russian infrastructure

11 years ago

DP World and the Russian Direct Investment Fund, or RDIF, have launched a new joint venture company targeting ports, transportation and logistics infrastructure in Russia.

DP World and RDIF will invest a total of $2bn in Russian port facilities

DP world chairman, HE Sultan Ahmed Bin Sulayem, signed a document on January 21, 2016, determining the key terms and principles of the joint venture, named DP World Russia, in which DP World and RDIF will hold an 80% and 20% share respectively.

Over time, DP World Russia is expected to invest a total of $2bn in Russian port facilities, while introducing international best practices in operations to improve trade connectivity for the benefit of Russian businesses, consumers and community.

Mr Bin Sulayem, said: “Russia has always been an attractive origin and destination market for us, with huge long-term growth prospects. This joint venture allows DP World and RDIF to build on each other’s strengths in bringing economic prosperity to Russia.

“It is also another great example of the strategic partnerships with government stakeholders, which is a model that has proven very successful for us over the years.”

Chief executive of RDIF, Kirill Dmitriev, added: “DP World’s global expertise, and its proven ability to drive trade growth and infrastructure makes it the ideal choice to support the long-term goals for the development of Russia.”