DP World, in a momentous move, signs multiple MoUs valued at $3 billion with the Government of Gujarat, India, during the Vibrant Gujarat Global Summit 2024. The agreements span the development of deep-draft ports, economic zones, and cargo terminals, solidifying DP World's commitment to Gujarat's burgeoning trade landscape. These strategic investments aim to bolster Gujarat's logistics and maritime infrastructure, marking a significant chapter in DP World's 20-year journey in India.
In a resounding testament to its commitment to India, DP World, a global logistics giant, embarks on a transformative journey with the signing of multiple Memorandums of Understanding (MoUs) worth $3 billion with the Government of Gujarat. The agreements, exchanged during the Vibrant Gujarat Global Summit 2024, underpin DP World's dedication to fueling trade in one of India's fastest-growing states.
The MoUs, graced by the presence of His Highness Sheikh Mohamed bin Zayed Al Nahyan and Prime Minister Narendra Modi, spotlight Gujarat's emergence as a development model and a vital cog in India's growth engine. DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, and Mr. M K Das, Additional Chief Secretary, Government of Gujarat, orchestrated the MoU exchange, signaling a landmark collaboration.
The comprehensive agreements signify DP World's strategic vision to fortify Gujarat's trade infrastructure by developing multi-purpose deep-draft ports, Special Economic Zones (SEZs) in Jamnagar and Kutch, and Gati Shakti Cargo Terminals (GCT) in key locations such as Dahej, Vadodara, Rajkot, Bedi, and Morbi. An additional MoU with the Gujarat Maritime Board aims to identify opportunities for further port development along the state's coast.
Sultan Ahmed bin Sulayem expressed DP World's unwavering commitment to India, emphasizing the company's nearly two-decade-long presence and investments totaling $2.5 billion. The visionary investment plans for the next three years underscore DP World's confidence in India's policies and its integral role in the nation's growth story.
DP World's existing investments in Gujarat, including a container terminal in Mundra, rail-connected private freight terminals, cold storage facilities, and global connectivity through coastal and rail services, showcase the company's substantial footprint in the region. The recent $510 million concession agreement to develop a mega-container terminal at Tuna-Tekra in Kandla further exemplifies DP World's commitment to Gujarat's trade evolution.
DP World's $3 billion investment infusion into Gujarat heralds a new era of economic collaboration. The MoUs, spanning deep-draft ports, SEZs, and cargo terminals, underscore DP World's pivotal role in fortifying Gujarat's logistics and maritime prowess. As DP World navigates the next phase of its 20-year journey in India, the agreements symbolize not just an investment but a strategic partnership poised to catalyze Gujarat's trade ascendancy.