DP World plans to invest $3bn in Gujarat for logistics services

DP World has signed multiple memorandums of understanding (MoUs) worth Rs 25,000 crore ($3 billion) with the Government of Gujarat for the development of new ports, terminals and economic zones.

Signed at Gandhinagar during Vibrant Gujarat Global Summit 2024, the MoUs highlight Gujarat as a role model of development and the growth engine of the nation while leveraging its logistics and maritime infrastructure, says an official release from DP World.

Sultan Ahmed bin Sulayem, Group Chairman and CEO, DP World exchanged MoUs around potential investments in Gujarat with M K Das, Additional Chief Secretary, Government of Gujarat in the presence of Sheikh Mohamed bin Zayed Al Nahyan, President, UAE and Narendra Modi, Prime Minister of India.

DP World will develop:

*Multi-purpose deep-draft ports in South Gujarat and around the western coast of Gujarat towards Kutch

*Special economic zones in Jamnagar and Kutch, and

*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, the release added.

“We are very committed to India where we have been operating for nearly 20 years," says Sulayem. "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. We have also been present in Gujarat since 2003 and are proud to have been part of the state’s growth story. We are honoured to continue our partnership in the state by committing to strengthening its logistics and maritime infrastructure to further enable trade in Gujarat.”

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 August 25, 2023. On commencement, the greenfield terminal will have state-of-the-art equipment and a 1,100 m berth capable of handling next-generation vessels carrying more than 18,000 TEUs, the release added.