Dubai's DP World, Russian Fund Form Ports Joint Venture

January 21, 2016 11:53 AM

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Dubai-based port operator DP World and the Russian Direct Investment Fund say they are launching a joint venture to develop ports, transportation and logistics infrastructure in Russia.

The deal announced on Thursday and signed on the sidelines of the World Economic Forum in Davos, Switzerland, will give DP World an 80 percent stake in the new company. The Russian government-backed fund will hold the remainder.

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