DP World expected to invest USD2b in Russian port
A shared venture with the Russian Direct Investment Fund (RDIF) is what DP World is seeking, but no deal has yet been reached, the company said in a statement on Wednesday.
DP World said in a statement that, despite media reports speculating about possible investments, "no transaction has been agreed at this time."
DP World chairman Sultan Ahmed bin Sulayem and RDIF CEO Kirill Dmitriev signed a document outlining the joint venture in 2016, which saw DP World own an 80 percent of shares, with RDIF holding the remaining 20%.
DP World Russia was set up to target marine, dry ports, and logistics structure crossways the country, and is anticipated to potentially invest USD2 billion to upgrade Russian port facilities.