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Russia and UAE are creating a joint venture to invest $2 bln in building ports

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Russia and UAE are creating a joint venture to invest $2 bln in building ports

The Director General of the Russian Direct Investment Fund (RDIF), Kirill Dmitriev, has signed an agreement on the creation of a joint venture company for investments with the DP World company from the UAE.

As the RDIF press office told Construction.ru, the JV will be called DP World Russia and one fifth of it will belong to RDIF. It is going to invest $2 bln in the development of Russian ports and transportation/logistics terminals.  

The Chair of the Board of the Arab company, Sultan Ahmed Ben Suleim, said that the ports are most likely to be located on the Black Sea, the Baltic Sea and near Vladivostok. Investments in the terminal in the port of Taman in Novorossiisk are being considered, as well as the construction of the Zarubino port.

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