August 22, 2008

DP World seeks approval to up 2 ICDs in Gujarat

BL reported that DP World has approached the Indian Railways seeking permission to set up 2 dry ports or inland cargo depots at Vadodara and Ahmedabad with an investment of USD 60 million.

Mr Ganesh Raj senior VP & MD of DP World said that "We have completed feasibility studies and are engaged in talks with Indian Railways for land acquisition and various other formalities."

DP World, which operates a chain of 43 ports across 22 the world, including 5 ports in India, is entering the inland cargo depots business with the prospect of even entering the container train operations segment. It would be engaged in direct competition with the Adani Group in container depots and rail transportation of containers when its plans materialize.