Dubai Port Operator Signs MoU’s Worth US$3 Billion for Gujarat State
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Dubai-based global port operator DP World has inked memoranda of understanding worth US$3 billion to develop maritime and logistics infrastructure in India’s western Gujarat state.
The planned investment covers the development of new multipurpose deep-draft ports in South Gujarat and around the state’s western coast towards Kutch, special economic zones in Jamnagar and Kutch, and cargo terminals and private freight stations at Dahej, Vadodara, Rajkot, Bedi and Morbi.
DP World also revealed it had signed an MoU with Gujarat Maritime Board to jointly identify opportunities to develop more ports along the coast of Gujarat.
“We are very committed to India, where we have been operating for nearly 20 years. In that time, we invested almost US$2.5 billion, and we are going to invest more in the next three years in these projects,” said DP World’s chairman and CEO Sultan Ahmed Bin Sulayem.
“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 honored 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 assets in Gujarat include a container terminal at Mundra as well as rail-linked private freight terminals at Ahmedabad and Hazira, cold storage facilities in Surat and Bharuch, freight forwarding offices in Ahmedabad and Gandhidham, and express cargo services across the state.
More recently, DP World signed a concession agreement in August with the Deendayal Port Authority to develop, maintain, and operate a new 2.19 million TEU per year mega-container terminal at Kandla in Gujarat. The Tuna-Tekra terminal, located close to the existing Deendayal Port, one of India’s busiest ports, will cost US$510 million to build, DP World said at the time.
DP World is the host port at Breakbulk Middle East 2024 on 12-13 February at the Dubai World Trade Center. The company will also be exhibiting in the main hall, Stand F10. RESERVE your tickets to BBME2024.
TOP PHOTO: DP World’s Sultan Ahmed bin Sulayem signs MoUs with Mr. M K Das, additional chief secretary, Government of Gujarat. CREDIT: DP World
