The agreement will enable the global port terminal operator to invest in and develop India’s maritime infrastructure and economic trade zones over the next several years, DP World said in a statement.
Dubai-based port terminal operator and logistics company DP World has signed a Memorandum of Understanding (MoU) with the Indian National Investment and Infrastructure Fund (NIIF) to develop India’s logistic sector.
According to DP World, the agreement was initiated after Sheikh Mohammad bin Zayed Al Nahyan and DP World CEO Sultan Ahmed bin Sulayem visited India in February 2016. At that time, DP World announced it was seeking development opportunities in the country worth $1 billion over the next several years.
The visit, bin Sulayem said, was a step towards further developing India Prime Minister Narendra Modi’s “Make in India” and “Invest India” campaigns by encouraging foreign direct investment and funding for landmark projects like port infrastructure at Sagarmala, the Delhi-Mumbai Industrial Corridor, river transportation and cold chain storage, port-led special economic zones, free trade zones and other to-be-determined projects.
“One of the key priorities of the Indian Government is preventing the loss of agricultural produce,” said bin Sulayem. “This can be managed through adequate marine and warehousing infrastructure including cold storage as well as development of inland waterways, reducing logistics costs at the same time. We are proud to partner with the with the Government and share our expertise and experience in these areas and the global supply chain to provide cost effective logistics and warehousing solutions to India’s growing export and import trade.”
DP World inks MoU with India’s National Investment and Infrastructure Fund
