ST. PETERSBURG, June 6. /TASS/. Infrastructure operator of the Northern Sea Route Rosatom, Russian Direct Investment Fund (RDIF), Norilsk Nickel, and DP World signed an agreement of intent on joint implementation of the integrated development project of the Northern Sea Route, TASS reported from the signing ceremony at the St. Petersburg International Economic Forum.
The agreement is not legally binding and includes comprehensive examining the most effective commercial options for the use of the Northern Sea Route. The parties will consider the possibility of creating a strategic partnership in the form of a joint venture for the development of transit cargo traffic through the Route. The key objective of the project is to increase the volume of freight traffic through the Route and the Arctic zone of the Russian Federation.
The parties agreed to establish a joint working group to conduct an analysis and prepare a feasibility study for the project within six months.
The St. Petersburg International Economic Forum organized by Roscongress Foundation is being held on June 6-8 under the motto of "Creating a Sustainable Development Agenda." TASS is the general information partner and the official photohost agency for the event.