A consortium comprising DP World of the United Arab Emirates, the Russian Direct Investment Fund (a sovereign wealth fund), Rosatom and Norilsk Nickel have agreed to look into developing the Russian Northern Sea Route (NSR), which aims to shorten shipping times between the east and west.
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.
For the first stage, the parties to the agreement will have to develop a strategy to increase the efficiency of the use of the NSR and to determine ways of developing transit traffic.
The focus will be on linear transportation of containers and other bulk cargo along the Northern Sea Route. It will be necessary to determine the amount of funding for the design and construction of an additional ice-class fleet and icebreakers, as well as the port infrastructure, said DP World.
The focus will be on linear transportation of containers and other bulk cargo along the Northern Sea Route. It will be necessary to determine the amount of funding for the design and construction of an additional ice-class fleet and icebreakers, as well as the port infrastructure. A separate important area of work: ensuring industrial safety and environmental protection in the implementation of transportation along the NSR.
