The Russian President Vladimir Putin has signed a decree on the establishment of North-South JSC. 100% of shares of Makhachkala Commercial Trade Port have been transferred into the authorized capital of the new company. Their market value amounts to RUB 1.25 billion.

The Government of the Russian Federation has been instructed to conclude an agreement with the strategic investor, to ensure that the investor fulfils its obligations and to define the procedure for monitoring their fulfilment.

After the strategic investor contributes its share to the authorized capital, its share may reach 51%, while the state will remain with 49%. If the strategic investor fulfils its obligations within five years, it will be able to buy the state-owned shares. The decree also prohibits the sale of shares of Makhachkala Port to foreign persons and legal entities controlled by foreigners.