Skip to content Skip to Search
Skip navigation

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.

Latest articles

Shoppers choose vegetables in Istanbul; inflation means people are spending on essentials

Turkish retailers’ confidence wavers as inflation bites

Confidence is falling among Turkish retailers, according to a survey from the country’s statistics agency Turkstat. Shoppers have been scaling back on big-ticket purchases, spending instead on basic consumer goods as inflation piles pressure on household incomes. May’s business confidence report, released by Turkstat on June 24, showed sentiment in the retail sector at its […]

Water is handed out to pilgrims in Mecca. Hundreds of pilgrims without a Hajj permit died during extreme heat last week

Egypt shuts down 16 travel companies after Hajj tragedy

Egypt has withdrawn the operating licences of 16 travel companies for organising unlicensed Hajj trips to Saudi Arabia. A statement from the Egyptian government said the companies would be prosecuted and fined, with the funds used to compensate pilgrims’ families for their loss.  Hundreds of Egyptians were among 1,301 people who died of exposure to […]

A floating production unit in Israel's Karish gas field in the eastern Mediterranean. Carlyle is creating a new oil and gas company to manage the field

New Carlyle entity to manage East Med gas projects

Carlyle, the Nasdaq-listed private equity company, is creating a new oil and gas company to manage recently-acquired assets in the Mediterranean hydrocarbons market. The new as yet un-named entity will be led by former BP CEO Tony Hayward and will manage a portfolio of gas-weighted exploration and production assets in Italy, Egypt and Croatia, according […]

Spinneys plans to open another 12 stores in Saudi Arabia by 2028

Spinneys opens first Saudi supermarket in Riyadh

Spinneys has opened its first supermarket in Saudi Arabia and is planning a further 12 stores in the country by 2028. The UAE supermarket operator listed on the Dubai Financial Market last month and raised AED1.38 billion ($375.7 million) from its initial public offering, which was oversubscribed almost 64 times. The first Spinneys in Saudi […]