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RUSSIA's nuclear Rosatom agency and Dubai's global terminal operator DP World have formed a joint venture to advance container shipping on the Northern Sea Route (NSR), reports Norway's High North News.
Russia has actively sought collaboration with the United Arab Emirates (UAE) in various Arctic projects for several years.
Notably, Novatek partnered with a UAE entity, Green Energy Solutions, last year to ensure continued access to crucial technology in the face of Western sanctions.
subsequently, the UAE company has found itself subject to sanctions imposed by the United States.
This new joint venture stands as a recent example of Russia's ongoing efforts to engage new partners in developing the Northern Sea Route, with the objective of transforming it into an international transportation and logistics corridor.
Officials from India and Russia discussed the potential partnership to further advance Arctic shipping.
According to the terms of the current agreement, Rosatom's cargo subsidiary will hold a majority stake of 51 per cent in the newly established entity, International Container Logistics, while DP World will hold 49 per cent.
"The collaboration between these two companies is aimed at developing an additional trade route for maritime container transportation through the Northern Sea Route," said Rosatom.
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