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DP World to operate ports along Russia’s northern sea route

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Christian Fernsby |
DP World
Russian businesses   DP World

DP World to run ports that Russia plans to build along the northern sea route in the Arctic to shorten shipping times between the east and west.

The Russian Direct Investment Fund, ROSATOM and DP World have agreed to jointly implement a project for the integrated development of the NSR.

The quadrilateral agreement of intent was signed on June 6, 2019 during the St. Petersburg International Economic Forum.

The agreement outlines a comprehensive piece of work which will study of the most effective commercial options for the use of the Northern Sea Route.

The parties intend to create a strategic partnership in the form of a joint venture for the development of transit cargo traffic through the NSR.

The key objective of the project is to increase the volume of freight traffic through the NSR and the Arctic zone of the Russian Federation.

The document was signed by Dmitriyev Kirill Alexandrovich, Director General of the RDPI Management Company, Vladimir Potanin, President of Norilsk Nickel, Alexey Likhachev, Director General of Rosatom, and His Excellency Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World (DPW) For the first stage, the parties to the agreement will have to develop a strategy to increase the efficiency of the use of the NSR and to determine ways of developing transit traffic.

The focus will be on linear transportation of containers and other bulk cargo along the Northern Sea Route.

It will be necessary to determine the amount of funding for the design and construction of an additional ice-class fleet and icebreakers, as well as the port infrastructure.

A separate important area of work: ensuring industrial safety and environmental protection in the implementation of transportation along the NSR.


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