DP World signs multiple MoUs with Gujarat to strengthen logistics in the Indian state

DP World has signed multiple Memorandums of Understanding (MoU) worth INR 250 billion (approximately US$3 billion) with the Government of Gujarat, covering the development of new ports, terminals and economic zones, strengthening its commitment to support commerce in a growing Indian state. .

Chairman and CEO of DP World Group, Sultan Ahmed bin Sulayemexchanged memorandums of understanding on possible investments in Gujarat with MK DasAdditional Chief Secretary, Government of Gujarat, during the Vibrant Gujarat World Summit 2024 arrested in Gandhinagar.

The MoUs highlight Gujarat’s prowess as a development model and growth engine of the nation while leveraging its logistics and maritime infrastructure.

The memorandums of understanding highlight DP WorldCommitment to facilitating trade in Gujarat by developing:

• Deep draft multi-purpose 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 charging stations in Dahej, Vadodara, Rajkot, Bedi and Morbi

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

Commenting on the signing of the MoUs, Sultan Ahmed bin Sulayem, Chairman and CEO of DP World Groupsaying :

“We are very committed to India, where we have operated for almost 20 years. In that time, we invested almost $2.5 billion and we will invest more over the next 3 years in these projects. The government’s policies and our experience here is what gives us the confidence to do even more in India. We are also present in Gujarat since 2003 and are proud to have been a part of the state’s growth story. We are honored to continue our partnership in the state by committing to strengthen its logistics and maritime infrastructure to further enable trade in Gujarat.”

DP WorldExisting investments in Gujarat include a container terminal at Mundra, along with rail-connected private cargo 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. Besides, DP World guarantees global connectivity for companies in the region by executing weekly coastal services through DP World‘s Unifeeder Group, which links the ports of Mundra, Kandla and Hazira with various international ports. The company recently launched first-of-its-kind dedicated scheduled rail transport service ‘SARAL’ connecting traders of South Gujarat such as Surat, Vapi, Valsad Vadodara, Bharuch, Ankleshwar to markets of the capital region North (NCR) and its surrounding areas. .

On August 25, 2023, DP World signed a $510 million concession agreement with Deendayal Port Authority to develop, operate and maintain a new 2.19 million TEU per annum mega container terminal at Tuna-Tekra in Kandla. Upon opening, this new terminal will feature state-of-the-art equipment and a 1,100 m berth capable of handling next-generation vessels carrying more than 18,000 TEU.

News source: Emirates News Agency