Dubai-based port and terminal operator DP World and the Summa Group, a Russian infrastructure investor, have signed a Memorandum of Understanding (MoU) to explore investment opportunities in ports, special economic zones and inland logistics facilities in Russia.
The partnership will also focus on the development and implementation of freight delivery and port processing technologies.
In addition, the agreement includes the development and promotion of the Asia-Pacific Economic Cooperation (APEC) and Russian Far East transportation corridors, including free ports Vladivostok and Zarubino.
“The Summa Group have been extensively involved in developing trade infrastructure in Russia and elsewhere and we have done the same with a network of 77 operating marine and inland terminals across six continents and other international interests such as DP World Russia, a joint venture company that targets marine, dry ports and logistics infrastructure in the country,” Sultan Ahmed Bin Sulayem , DP World Group Chairman and CEO, said.
The Summa Group is a private holding with investments in the port logistics, engineering, construction, telecommunications, and in the oil and gas sector.