DP World signs multiple pacts with Gujarat

Dubai logistics major to invest nearly $3 billion in western Indian state

by

A Staff Reporter

  • Follow us on
  • google-news
  • whatsapp
  • telegram

Top Stories

In the presence of UAE President Sheikh Mohamed bin Zayed Al Nahyan and Narendra Modi, Prime Minister of India, DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, exchanged MoUs around potential investments in Gujarat with M K Das, Additional Chief Secretary, Government of Gujarat. — Supplied photo
In the presence of UAE President Sheikh Mohamed bin Zayed Al Nahyan and Narendra Modi, Prime Minister of India, DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, exchanged MoUs around potential investments in Gujarat with M K Das, Additional Chief Secretary, Government of Gujarat. — Supplied photo

Published: Wed 10 Jan 2024, 7:04 PM

DP World has signed multiple Memorandums of Understanding (MoUs) worth Rs250 billion (approx. $3 billion) with the Government of Gujarat, covering the development of new ports, terminals, and economic zones, strengthening its commitment to supporting trade in a growing Indian state.

In the presence of UAE President Sheikh Mohamed bin Zayed Al Nahyan and Narendra Modi, Prime Minister of India, DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, exchanged MoUs around potential investments in Gujarat with M K Das, Additional Chief Secretary, Government of Gujarat, during the Vibrant Gujarat Global Summit 2024 being held in Gandhinagar.

The MoUs highlight Gujarat’s prowess as a role model of development and the growth engine of the nation while leveraging its logistics and maritime infrastructure.

The MoUs. underscore DP World’s commitment to facilitating trade in Gujarat by developing:

• Multi-purpose deep-draft ports in South Gujarat and around the western coast of Gujarat towards Kutch,

• Special Economic Zones in Jamnagar and Kutch,

• Gati Shakti Cargo Terminals (GCT) and Private Freight Stations at Dahej, Vadodara, Rajkot, Bedi and Morbi

DP World has also signed an MoU with Gujarat Maritime Board to jointly identify opportunities to develop additional ports along the coast of Gujarat.

Commenting on the signing of the MoUs, bin Sulayem said : “We are very committed to India, where we have been operating for nearly 20 years. In that time, we invested almost $2.5 billion and we are going to invest more in the next three years in these projects. The policies of the government and our experience here is what gives us the confidence to do even more in India. We have also been present in Gujarat since 2003 and are proud to have been part of the state’s growth story. We are honoured to continue our partnership in the state by committing to strengthening its logistics and maritime infrastructure to further enable trade in Gujarat.”

DP World’s existing investments in Gujarat include a container terminal in Mundra, along with rail connected private freight terminals at Ahmedabad and Hazira. This is complemented by cold storage facilities in Surat and Bharuch, freight forwarding offices in Ahmedabad and Gandhidham, and express cargo services across the state. Additionally, DP World ensures global connectivity for businesses in the region by running weekly coastal services via DP World’s Unifeeder Group, linking Mundra, Kandla, and Hazira ports to several international ports. The company recently launched a first-of-its-kind dedicated scheduled rail freight service, ‘SARAL’ connecting traders from south Gujarat such as Surat, Vapi, Valsad Vadodara, Bharuch, Ankleshwar to the markets in and around North Capital Region (NCR).

On August 25, 2023, DP World signed a $510 million concession agreement with the Deendayal Port Authority to develop, operate and maintain a new 2.19 million TEU per year mega-container terminal at Tuna-Tekra in Kandla. On commencement, this greenfield terminal will have state of the art equipment and a 1,100-m berth capable of handling next-generation vessels carrying more than 18,000 TEUs.


More news from Business