Rosatom and DP World to create joint venture in logistics

The Russian state nuclear corporation Rosatom and DP World have signed an agreement to create a joint venture in logistics services. Rosatom will receive a 51% stake by transferring its share in FESCO, while DP World will contribute a 49% cash stake.

The Russian state nuclear energy corporation Rosatom announced on Friday that it has reached an agreement with DP World (Dubai World Port) to establish a joint venture in the logistics sector. Rosatom, which develops nuclear projects in Russia and abroad and also owns assets in Russia's transport sector, will own 51% of the new company, while DP World will own 49%. Rosatom's contribution will be its 92.4% stake in the Russian transport group FESCO, which specializes in container logistics services. It is reported that DP World's contribution will be made in cash and will be based on the market valuation of FESCO.

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