DP World to operate new Russian ports
DP World has signed an agreement to operate ports that Russia plans to build along the Northern Sea Route (NSR) in the Arctic to shorten shipping times between the east and west.
The port operator, alongside the Russian Direct Investment Fund; ROSATOM, the infrastructure operator of the NSR; and the palladium and nickel producer Norilsk Nickel, have agreed to jointly implement a project to increase the volume of freight traffic through the NSR and the Arctic zone of the Russian Federation.
Sultan Ahmed bin Sulayem, chairman and CEO of DP World, said: “DP World is uniquely positioned to help drive the development of the NSR. We are excited about the possibilities and the benefits this will bring not only to the Russian economy, but to customers in Asia and Europe.”
For the first stage, the parties to the agreement will have to develop a strategy to increase the efficiency of the use of the NSR and to determine ways of developing transit traffic.
The focus will be on linear transportation of containers and other bulk cargo along the Northern Sea Route. It will be necessary to determine the amount of funding for the design and construction of an additional ice-class fleet and icebreakers, as well as the port infrastructure, said DP World.
An additional goal for the project will be ensuring industrial safety and environmental protection in the implementation of transportation along the NSR.
A joint working group will conduct an analysis and prepare a feasibility study for the project within six months.
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