Russia’s state nuclear group Rosatom said it has agreed with DP World to establish a logistics joint venture. Moreover, the partnership reflects Rosatom’s broader strategy to expand its presence in global cargo transport and strengthen trade corridors.
Rosatom to hold majority stake
Under the proposed structure, Rosatom will hold 51% of the joint venture, while DP World will take a 49% stake, according to a company spokesperson. Additionally, Rosatom will contribute its 92.4% stake in Russian transport group FESCO, which specialises in container logistics.
DP World will contribute cash funding. However, the amount will depend on the market valuation of FESCO, the spokesperson said. As a result, the final transaction size remains subject to valuation outcomes.
Regulatory approvals required
The deal requires approval from the government commission on foreign assets and the Federal Antimonopoly Service. Therefore, the transaction remains subject to regulatory clearance before completion.
Northern Sea Route focus
Rosatom said the partnership supports its plan to develop a global logistics operator and expand cargo flows. Moreover, it aims to strengthen volumes through the Northern Sea Route, Russia’s Arctic transport corridor along its northern coast.
The company added that cooperation with DP World would provide access to global logistics infrastructure. Additionally, DP World is expected to support efforts to attract new cargo volumes, including shipments routed through the Northern Sea Route.
