Dubai-Mubasher: Dubai-based DP World and the Russian Direct Investment Fund signed an agreement to launch a joint venture to carry out ports, transportation and logistics infrastructure projects in Russia.
Under the agreement signed on the sidelines of the World Economic Forum in Davos, Switzerland, DP World will own 80% stake in the new company and the Russian fund will have the remainder.
To be called DP World Russia, the joint venture will invest $2 billion to upgrade port infrastructure in different parts of Russia.
