Ports
DP WORLD ANNOUNCES INTENTION TO BACK
POTENTIAL INFRASTRUCTURE DEVELOPMENT IN
INDIA AND SEEKS OPPORTUNITIES WORTH OVER
$1 BILLION
Global trade enabler DP World has announced that it seeks
opportunities in India worth over $1bn over the next few
years. The Group has already invested capital of $1.2bn and is
currently the only foreign operator with six port concessions
in the country with approximately 30% market share.
T
he announcement was made during a visit to New Delhi and
Mumbai by His Highness Sheikh Mohammed Bin Zayed Al
Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces of the United Arab Emirates (UAE),
and His Excellency Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World. The visit follows a two-day official trip
by Indian Prime Minister Narendra Modi to the UAE last August.
The DP World investments could cover:
• Expansion in brownfield container terminals • Long term greenfield container concessions • Inland Container Depots (ICDs)
• Expansion of existing inter-modal rail services for rolling stock
H.H. Sheikh Mohammad Bin Zayed Al Nahyan, said: “The UAE
and India enjoy historic bilateral relations and these potential investments reinforce our confidence in the long term growth of the
Indian economy and our desire to actively contribute to the economic development of this friendly nation. DP World has established a leading position in the Indian market and is a pioneer in
the development of container terminals. It has the biggest portfolio along the Indian coast and is looking to enhance its presence there, transferring the UAE’s experience of infrastructure
development in line with our plans to enhance the strategic relations between our countries and to take them to a higher level.”
News
In Mumbai, H.H. Sheikh Mohammad Bin Zayed Al Nahyan
and H.E. Sultan Ahmed Bin
Sulayem, Group Chairman
and CEO, DP World also inaugurated the new 330-metre
berth at Nhava Sheva (India)
Gateway Terminal (NSIGT), at
India’s premier gateway port,
Jawaharlal Nehru Port (JNPT).
H.E. Sultan Ahmed Bin Sulayem, Group Chairman and
CEO, DP World, said: “We are
reinforcing our commitment to
enabling India’s growth and economic development through our
operations in the country, where
we have invested over US $1 billion in the past supporting over
30% of India’s container trade.
“Being one of the strongest
emerging economies in the
world, India offers immense
potential for growth in the maritime sector. With Nhava Sheva
(India) Gateway Terminal, the
new 330-metre berth, DP World
will contribute even more to
India’s growth offering our
customers the ability to grow
and expand their business.”
Dubai’s non-oil foreign trade
with India has seen a striking 144 per cent growth from
2004 to 2014. By the end of
2014, trade between the two
countries amounted to AED
109.34 billion, compared to
AED 44.87 billion in 2004.
India was Dubai’s second largest trading partner in 2015, with
bilateral trade of AED 73.86 billion during the first nine months
of 2015 – comprising imports
of AED 41.73 billion; exports
of AED 14.54 billion and reexports of AED 17.59 billion.
February 2016
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