UAE-based DP World has signed multiple Memorandums of Understanding (MoUs) worth approximately US$3 billion with India’s Government of Gujarat, covering the development of new ports, terminals and economic zones, aiming to support and strengthen trade in the Indian state.
The signed agreements 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 inked an MoU with Gujarat Maritime Board to jointly identify opportunities to develop additional ports along the coast of Gujarat.
Commenting on the signing of the agreements, Sultan Ahmed bin Sulayem, chairman and CEO of 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 US$2.5 billion and we are going to invest more in the next three years in these projects. 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’s existing investments in Gujarat include a container terminal in Mundra, along with rail connected private freight terminals at Ahmedabad and Hazira. Additionally, the company has created cold storage facilities in Surat and Bharuch, freight forwarding offices in Ahmedabad and Gandhidham, and express cargo services across the state.
DP World runs weekly coastal services via its sunsidiary 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 (NCR).
It is also important to note that on 25 August 2023, DP World signed a US$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.
