Skip to content Skip to Search
Skip navigation

DP World investing $510m to build container port in India

DP World
DP World and Deendayal Port Authority officials at the signing of the agreement

Global ports operator DP World will invest $510 million to build, operate and maintain a new container terminal at the Kandla port in the Indian state of Gujarat, its group chairman said on Friday.

“It will enable the delivery of trade opportunities by connecting northern, western and central India with global markets,” Sultan Ahmed bin Sulayem, CEO of DP World, said after signing an agreement with the Deendayal Port Authority.

The new terminal, which should be completed by early 2027, will boost container traffic in India and reduce the cost of logistics. It will have a capacity of 2.19 million twenty-foot equivalent unit (TEU) per annum and a 1,100-metre berth capable of handling next-generation vessels carrying more than 18,000 TEUs.

As part of this concession agreement, the berth can be further extended to 1,375 metres.

The Deendayal Port Authority in January awarded the concession to develop a mega-container terminal to Hindustan Infralog Private Limited — a joint venture between DP World and state-owned National Investment and Infrastructure Fund.

The concession is on a build-operate-transfer (Bot) basis for a period of 30 years with the option to extend for another 20 years.

DP World currently operates five container terminals in India – two in Mumbai, one each in Mundra, Cochin and Chennai – with a combined capacity of approximately six million TEUs. With the addition of Tuna Tekra, DP World will have a combined capacity of 8.19 million TEUs.

DP World reported a drop in profits for the first six months of the year by almost 10 percent, despite revenues increasing by 14 percent.

Profit attributable to the UAE multinational logistics group in H1 was $651 million, down 9.7 percent compared to a record surplus of $721 million for the same period in 2022.

The near-term trade outlook was “uncertain” due to macroeconomic and geopolitical factors, bin Sulayem cautioned, but remained confident that the “solid financial performance of the first six months positions well to deliver a steady set of full-year results”.

Latest articles

Microsoft president Brad Smith and G42 CEO Peng Xiao (right) sign the $1.5bn investment deal in the presence of G42 chairman Sheikh Tahnoon bin Zayed Al Nahyan

Microsoft invests in UAE’s AI leader G42 

The US tech giant Microsoft will invest $1.5 billion in the Abu Dhabi-based artificial intelligence (AI) company G42 to help accelerate its global expansion strategy. As part of the deal G42 will run its AI applications and services on Azure, Microsoft’s cloud computing platform. Brad Smith, vice-chair and president of Microsoft, will join the G42 […]

Spinneys CEO Sunil Kumar and chairman Ali Al Bwardy. The company operates 75 grocery retail supermarkets in the UAE and Oman

Spinneys to offer 900m shares in Dubai IPO

Supermarket operator Spinneys will sell 25 percent of its business in an initial public offering (IPO) on the Dubai Financial Market (DFM), according to an intention to float document released on Tuesday. The company’s offering will be open from April 23 to April 29 for retail investors, while institutional investors can subscribe until April 30, according […]

Architecture, Building, Cityscape

World Bank raises UAE’s economic growth outlook

The World Bank has raised its UAE economic growth forecast for 2024 and 2025, citing robust non-oil sector growth and higher oil output. The real GDP growth projection for the Gulf state was revised to 3.9 percent this year, up from its previous forecast of 3.7 percent in January, the World Bank said in its […]

Robots on the production line of an EV factory in Guangzhou, China. Saudi Arabia has yet to open its first EV manufacturing facility

EV imports rise in Saudi Arabia, but only to 779 cars

Saudi imports of electric vehicles rose sharply in 2023 – but to a total of just 779 EVs, despite government hopes that it can become a green economy leader through the manufacture and use of electric cars. The kingdom imported only 210 EVs in 2022, showing the mountain it has to climb to realise ambitions […]