DP World has partnered up with the Russian Direct Investment Fund (RDIF) in a joint venture to target ports, transport and logistics infrastructure in Russia.
DP World will own an 80 per cent shareholding and RDIF will own the remaining 20 per cent – the venture will be called DP World Russia. The partnership will potentially ‘invest over a time a total of $2 billion in upgrading Russian port facilities.
“Russia has always been an attractive origin and destination market for us with huge long term growth prospects,” said DP World Chairman, Sultan Ahmed Bin Sulayem. “This joint venture allows DP World and RDIF to build on each other’s strengths in bringing economic prosperity to Russia.”