Rosatom: Northern Sea Route to Cost 735 bln Roubles
Russia's ambitious Northern Sea Route (NSR) requires 735 billion roubles ($11.7 billion) in investments, with the state budget to provide a third and the rest to come from companies and banks, the head of state nuclear firm Rosatom, Alexey Likhachyov, said.Rosatom, the world's top nuclear company in terms of foreign orders, was selected by the Russian government to operate the NSR - the Arctic route Moscow wants to turn into a new Suez - coordinating development of the project among its users.This month…
DP World Eyes Arctic Sea Route
Dubai-based ports operator DP World hopes to run ports that Russia plans to build along an Arctic sea route intended to shorten shipping times between east and west.The quadrilateral agreement of intent with Russian Direct Investment Fund, an investment fund of the Russian Federation, Rosatom, the infrastructure operator of the NSR and Norilsk Nickel, a world leader in the production of palladium and high-quality nickel, was signed, reported Reuters.The signed deal between the Emirati company and the Russian firms is not legally binding, according to Reuters.“This is going to change the [economic] growth for Russia,” DP World Chief Executive Sultan Ahmed bin Sulayem said in an interview with Reuters in St. Petersburg.
DP World to Develop Russian Ports
Dubai-based port operator DP World and the Russian Direct Investment Fund have launched a joint venture to develop ports, transportation and logistics infrastructure in Russia. Signed on the sidelines of the World Economic Forum in Davos, Switzerland, the deal will give DP World an 80 percent stake in the new company, while the Russian government-backed fund will hold the remainder, news agency WAM reported. The company will be called DP World Russia and over time could invest $2 billion to upgrade port infrastructure in different parts of Russia. “Russia has always been an attractive market with great prospects for long-term development.
DP World to invest in Russian Ports, Infrastructure
Dubai ports operator DP World and the Russian Direct Investment Fund (RDIF) have launched a new joint venture aiming to invest in ports, transportation and logistics infrastructure in Russia, they said in a statement on Thursday. Under the name DP World Russia, the new company will focus on marine, dry ports and logistics infrastructure with potential total investments of $2 billion. Reporting by Oksana Kobzeva
