DP World has signed multiple Memorandums of Understanding (MoUs) totalling INR250 billion ($3 billion) with the Gujarat government for the construction of new ports, terminals, and industrial zones in a rising Indian state.
Commenting on the signing of the MoUs, Sultan Ahmed bin Sulayem, Chairman and CEO, DP World Group, 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 has also inked a MoU with the Gujarat Maritime Board to examine prospects to build new ports along Gujarat’s coast.
DP World’s existing investments in Gujarat reportedly 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.