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IATA partner completes drone test flight programme
FARNBOROUGH, UK: July 17, 2018. Drone manufacturer...

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Hactl becomes first to complete IATA SFOC
HONG KONG: July 17, 2018. Hong Kong Air Cargo Term...

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Freightos and Lufthansa launch rate platform
LONDON: July 17, 2018. Lufthansa Cargo and Freight...

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Antonov building on 2017 growth
LONDON: July 17, 2018. Having recorded an 81 perce...

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Delta and Korean Air begin trans-Pacific cargo collaboration
ATLANTA: July 17, 2018. Delta Air Lines Cargo and ...

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Southwest begins international cargo service to Mexico
HOUSTON, TX: July 16, 2018. Southwest Airlines Car...

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Volga-Dnepr to order 34 new widebody freighters
FARNBOROUGH, UK: July 17, 2018. Volga-Dnepr Group ...

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APL Logistics joins Blockchain in Transport Alliance
SINGAPORE, July 16, 2018. APL Logistics has joined...

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IoT platform to monitor pharma shipments in flight
FARNBOROUGH, UK: July 16, 2018. AirBridgeCargo Air...

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IATA partner completes drone test flight programme
Hactl becomes first to complete IATA SFOC
Freightos and Lufthansa launch rate platform
Antonov building on 2017 growth
Delta and Korean Air begin trans-Pacific cargo collaboration...
Southwest begins international cargo service to Mexico
Volga-Dnepr to order 34 new widebody freighters ...
APL Logistics joins Blockchain in Transport Alliance
IoT platform to monitor pharma shipments in flight...

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DAVOS/DUBAI/MOSCOW: January 21, 2016. DP World and the Russian Direct Investment Fund (RDIF) have launched a joint venture to develop Russia’s port, transportation and logistics infrastructure.

Ownership of the new company - called DP World Russia - will be split 80:20 between DP World and RDIF. They have earmarked US$2 billion to upgrade Russian port facilities and improve trade connectivity.

Russia investment fundThe RDIF is a US$10 billion fund set up in 2011 by Russia's president Vladimir Putin and prime minister Dmitry Medvedev to encourage equity investments in the country's economy. Since then, the RDIF says it has attracted over US$25 billion of foreign capital through long-term strategic partnerships.

DP World chairman Sultan Ahmed Bin Sulayem commented: “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, a model that has proven very successful for us over the years. Ports and logistics infrastructure are long term investments and this is why, when we invest, we prefer an approach that recognizes the benefits of sharing resources for a common purpose.

“RDIF has a proven track record of investing with other global companies and we are pleased to partner with them. This joint-venture will enable us to share with Russia our experience as a global port operator and trade enabler and to further enhance the already established strong relations between our countries,” he noted.

Kirill Dmitriev, CEO of RDIF added: “DP World’s global expertise and its proven and tested ability to drive trade growth and develop efficient infrastructure, make it the ideal choice to support the long-term goals for the development of Russia. We are glad to welcome DP World in Russia and look forward to creating an effective partnership which will benefit both Russia and [the] UAE.”

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