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DP World to invest $3bn to develop new ports in India

UAE president Sheikh Mohamed bin Zayed Al Nahyan and Indian prime minister Narendra Modi witness the signing of MoUs with DP World Dubai Media Office
UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi witness the signing of MoUs with DP World

Dubai’s DP World plans to invest $3 billion to develop new ports, terminals and economic zones in India’s western state of Gujarat over the next three years.

The memorandums of understanding (MoUs) include the development of multi-purpose deep-draft ports in south and western coasts of Gujarat; special economic zones in Jamnagar and Kutch; and cargo terminals and private freight stations at Dahej, Vadodara, Rajkot, Bedi and Morbi, the port operator told the UAE state-run Wam news agency.

“We are very committed to India, where we have been operating for nearly 20 years,” DP World group chairman and CEO Sultan Ahmed bin Sulayem said at the Vibrant Gujarat Global Summit in Gandhinagar, Gujarat.

“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.”

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

The Dubai-based global operator’s existing investments in the state includes a container terminal in Mundra and rail-connected private freight terminals at Ahmedabad and Hazira.

The company also manages cold storage facilities in Surat and Bharuch, freight forwarding offices in Ahmedabad and Gandhidham, and express cargo services in the Gujarat. 

In August 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, the greenfield terminal will have a 1,100 m berth capable of handling next-generation vessels carrying more than 18,000 TEUs.

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