DP World gearing up for new Russian venture

Chairman of the Dubai Company DP World, Sultan bin Sulayem, has visited the Russian President Vladimir Putin. DP World is ready to return to Russia after a three-year break, he said recently.

Dp Worlds terminal i London Gateway. | Photo: London Gateway

Terminal Operator DP World is likely on its way back to the Russian market, after the company divested its Russian business in 2012. Recently the Chairman of the Dubai-based company, Sultan bin Sulayem, met with the Russian President Vladimir Putin to discuss an investment in the Far-Eastern part of the country, reports Dubai newspaper The National.

Putin has allegedly given several ministers, including transport minister Maxim Sokolov, a mandate to clear the way for DP World so that there are no obstacles for future business in the region. Meanwhile, in July the Russian Parliament approved legislation whereby 15 cities near Vladivostok, Russia's largest port city, acquire the status of "free ports" which gives tax benefits to customers and makes the port competitive with other free ports such as Hong Kong or Southern Korean Busan.

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