DP World looking at over $1b investment in India

DP World is the only foreign operator with six port concessions in India with approximately 30 per cent market share. - Wam

• The group has already invested $1.2 billion and is currently the only foreign operator with six port concessions in India with approximately 30 per cent market share.

DP World announced that it is looking for over a billion dollars new investment opportunities in India.

This was announced by Sultan Ahmed bin Sulayem, chairman and Group CEO of DP World.

The investments could cover expansion in brownfield container terminals, long-term greenfield container concessions, inland container depots and expansion of existing inter-model rail services for rolling stock.

He, however, did not elaborate on the details.

The group has already invested $1.2 billion and is currently the only foreign operator with six port concessions in India with approximately 30 per cent market share.

"I cannot tell you the time frame nor will I be able to give the places where these investments are going to be made. We have identified the areas but it's too early for us to give you the details.

"We are here to invest and our investment basically depends on the need and opportunities provided by the customer. We know what is going to help India in order to be more efficient." While in Mumbai, His Highness Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Bin Sulayem inaugurated the new 330-metre berth at Bhavan Sheva (India) Gateway Terminal (NSIGT), at Jawaharlal Nehru Port.

"Being one of the strongest emerging economies in the world India offers immense potential for growth in the maritime sector. With Nahva Sheva, the new berth, DP World will contribute even more to India's growth offering our customers the ability to grow and expand their business," said Bin Sulayem.

/Khaleej Times.