DP World Inks MoUs Worth Rs 25,000 Cr With Gujarat For Port, Economic Zone Development
DP World, a global leader in logistics and maritime services, has solidified its commitment to bolstering trade in Gujarat by signing multiple Memorandums of Understanding (MoUs) with the Government of Gujarat at the Vibrant Gujarat Global Summit 2024.
Valued at Rs 25,000 crores, the MoUs encompass the development of new ports, terminals, and economic zones, highlighting Gujarat's pivotal role in fostering economic growth.
The MoUs were exchanged between DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, and MK Das, Additional Chief Secretary, Government of Gujarat, during the summit held at Gandhinagar.
The ceremony took place in the presence of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and Narendra Modi, Prime Minister of India.
These strategic partnerships underscore DP World's dedication to advancing trade in Gujarat through the development of multi-purpose deep-draft ports in South Gujarat and along the western coast towards Kutch. Additionally, the MoUs cover the establishment of Special Economic Zones in Jamnagar and Kutch, along with Gati Shakti Cargo Terminals (GCT) and Private Freight Stations at key locations, including Dahej, Vadodara, Rajkot, Bedi, and Morbi.
DP World has also collaborated with the Gujarat Maritime Board, signing an MoU to jointly explore opportunities for the development of additional ports along the state's coastline.
Sultan Ahmed bin Sulayem, DP World Group Chairman and CEO, expressed the company's commitment to India, emphasising their nearly two-decade-long presence and investments totaling almost USD 2.5 billion. He highlighted the confidence in India's policies and their positive experiences, further stating the intent to invest more in the next three years.
DP World's existing investments in Gujarat include a container terminal in Mundra, rail-connected private freight terminals at Ahmedabad and Hazira, cold storage facilities in Surat and Bharuch, and freight forwarding offices in Ahmedabad and Gandhidham. The company ensures global connectivity through weekly coastal services and recently launched the dedicated scheduled Rail Freight Service, 'SARAL,' connecting traders from south Gujarat to markets in and around the North Capital Region (NCR).
The latest addition to DP World's ventures in Gujarat includes the USD 510 million concession agreement signed on August 25, 2023, with the Deendayal Port Authority. This agreement paves the way for the development, operation, and maintenance of a mega-container terminal at Tuna-Tekra in Kandla, capable of handling more than 18,000 TEUs per year.
