Three for NSR
The Russian Direct Investment Fund, the infrastructure operator of the NSR, Rosatom, Norilsk Nickel, a producer of palladium and nickel, and DP World have agreed to jointly implement a project for the integrated development of the Northern Sea Route (NSR).
The quadrilateral agreement of intent was signed during the St. Petersburg International Economic Forum in Russia. The parties intend to create a strategic partnership in the form of a joint venture to develop transit cargo traffic through the NSR. The key objective of the project is to increase the volume of freight traffic through the NSR and the Arctic zone of the Russian Federation.
The partners still have to determine how much funding is required for the design and construction of an additional ice-class fleet and icebreakers, as well as the port infrastructure. (kd)