DP World to collaborate with Russian group
An agreement to explore investment opportunities in ports, special economic zones and inland logistics centres in Russia expands DP World’s growing presence in the world’s largest country.
According to MANA, The Dubai-headquartered global terminal operator has signed a MoU with the privately owned Summa Group which will also focus on the development and implementation of freight delivery and port processing technologies.
The advancement of the Asia-Pacific Economic Cooperation (APEC) and Russian Far East transportation corridors, including free ports Vladivostok and Zarubino, also form part of the contract.
“I am pleased to have entered discussions with the Summa Group on potential areas of collaboration as Russia has always been an attractive origin and destination market for us with huge long term growth prospects.”
The Summa Group is a diversified private holding with significant investments in the port logistics, engineering, construction, telecommunications, and in the oil and gas sectors.
Sulayem said both parties would leverage their international experience in port management, including the operation of free ports. DP World operates a network of 77 marine and inland terminals across six continents.
Summa Group chairman Ziya Magomedov said the partnership with DP World to develop free trade zones in “Russia, CIS and beyond” was a natural fit.