DP World has signed multiple Memorandums of Understanding (MOUs) worth INR 250 billion (approx. US$3 billion) with the Government of Gujarat, covering the development of new ports, terminals, and economic zones, strengthening its commitment to supporting trade in a growing Indian state.
In the presence of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of UAE, and Narendra Modi, Prime Minister of India, DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, exchanged MoUs around potential investments in Gujarat with M K Das, Additional Chief Secretary, Government of Gujarat, during the Vibrant Gujarat Global Summit 2024 being held in Gandhinagar.
The MOUs underscore DP World’s commitment to facilitating trade in Gujarat by developing:
• Multi-purpose deep-draft ports in South Gujarat and around the western coast of Gujarat towards Kutch
• Special Economic Zones in Jamnagar and Kutch
• Gati Shakti Cargo Terminals (GCT) and Private Freight Stations at Dahej, Vadodara, Rajkot, Bedi and Morbi
DP World has also signed an MOU with Gujarat Maritime Board to jointly identify opportunities to develop additional ports along the coast of Gujarat.
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 3 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 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 investments in Gujarat 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.
Photo credit: DP World