This Indian state has signed MoUs worth $3bn with DP World

Image courtesy: DP World

Dubai’s DP World has signed $3bn worth of MoUs with the government of the Indian state of Gujarat, covering the development of new ports, terminals, and economic zones.

The ports operator plans to develop multi-purpose deep-draft ports in the South and western coast of Gujarat, special economic zones in Jamnagar and Kutch as well as develop Gati Shakti Cargo Terminals and private freight stations at Dahej and Vadodara.

DP World also signed an MoU with the Gujarat Maritime Board to jointly identify opportunities to develop additional ports along the coast of the state.

“We are very committed to India, where we have been operating for nearly 20 years. In that time, we invested almost $2.5bn and we are going to invest more in the next three years in these projects,” said Sultan Ahmed bin Sulayem, chairman and CEO of DP World Group.

“The policies of the government and our experience here is what gives us the confidence to do even more in India. We have been present in Gujarat since 2003 and are proud to have been part of the state’s growth story.”

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.

Furthermore, the logistics giant ensures global connectivity for businesses in the region by running weekly coastal services via DP World’s Unifeeder Group, linking Mundra, Kandla, and Hazira ports to several international ports.

The company recently launched a first-of-its-kind dedicated scheduled Rail Freight Service, ‘SARAL’ connecting traders from south Gujarat such as Surat, Vapi, Valsad Vadodara, Bharuch, Ankleshwar to the markets in and around North Capital Region.

DP World expands regional footprint

 Meanwhile, the Dubai-based conglomerate signed a $510m concession agreement with the Deendayal Port Authority to develop, operate and maintain a new 2.19 million TEU mega-container terminal at Tuna-Tekra in Kandla last August.

Upon completion in 2027, the terminal will have state-of-the-art equipment and a 1,100-metre berth capable of handling next-generation vessels carrying more than 18,000 TEUs.

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

The terminal will connect to the hinterland through the network of roads, highways, railways and dedicated freight corridors, supporting the growing demand for logistics solutions from across Northern, Western and Central India, connecting businesses in the regions to global markets

DP World’s Sulayem said in September that the logistics company invested more than $6bn to evolve into a comprehensive supply chain player, capitalising on the slow evolution of the supply chain industry to invest in every aspect of the chain.

The company plans to relocate its headquarters to Expo City Dubai, marking the latest milestone in the state-owned lo50-year journey, as it continues to expand its global supply chain solutions.

Read: DP World to relocate global head office to Expo City Dubai