DP World could be in line to invest more into Russia’s remote far eastern region after Sultan Ahmed bin Sulayem, Chairman of DP World met Russian president Vladimir Putin recently, where the president mandated the Deputy Prime Minister to remove investment obstacles in Russia and provide the appropriate investment facilities for DP World, according to The National.
The port and terminal operator has recently made a vow to manage ports in Iran in a bid to boost cargo flows in and around the Middle Eastern region.
Mr bin Sulayem said: “DP World has got the expertise and resources, which position us to be a key player in the execution of Russia’s development plans, particularly for its eastern region’s port and free zone industry.”
Sanyalak Manibhandu, research manager at NBAD Securities, said: “If they can tick all the right political boxes, it would make sense for DP World to move back into Russia.
“Historically the company has shown it is good at finding new places in the world to invest, and taking profit from them when it makes sense so that they can move on and go elsewhere.”
The lifting of sanctions in Iran could give DP World a boost in its opportunities for containerised trade in the country, as well as support its plans for Russia and strengthen its position in the Middle East.
In terms of Middle Eastern activities, the operator has recently won the award for ‘Best Seaport’ for its flagship Jebel Ali Port, based in Dubai, for the twenty-first consecutive year.