Rosatom and DP World forge logistics alliance in Russia's Far East

Russia's state nuclear corporation Rosatom and Dubai-based port operator DP World (UAE) will establish a new joint venture that will include the FESCO Transportation Group, RBC (18+) reports, citing documents filed with Russia's Federal Antimonopoly Service (FAS).

According to the outlet, the deal involves Global Logistics, a Rosatom subsidiary, DP World Russia FZE, and FESCO's parent company, Far Eastern Shipping Company (FESC). A Rosatom representative confirmed to RBC that the FAS application had been submitted and that the key terms of the future agreement had been agreed upon.

The joint venture will be built around Global Logistics, with the Russian side holding a 51% stake. Rosatom will contribute FESCO—of which the state corporation owns 92.5% of the parent company, FESC—while DP World will provide a cash injection, an RBC source specified without disclosing the investment amount. The transaction also requires approval from the government commission overseeing foreign investments.