DP World signs agreements worth Rs 25,000 crore with Gujarat

New Delhi: Global logistics management and services firm DP World on Wednesday said the company has signed agreements worth Rs 25,000 crore with the government of Gujarat, as part of which it will develop new ports, terminals, and economic zones.

The company in a statement said the Memoranda of Understanding (MoUs) signed at Gandhinagar during the Vibrant Gujarat Global Summit 2024 highlight the state's prowess as a role model of development and the growth engine of the nation.

DP World Group Chairman and CEO Sultan Ahmed bin Sulayem signed the agreements around potential investments in Gujarat with M K Das, additional chief secretary, Gujarat government, in presence of Prime Minister Narendra Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan.

According to the statement, the MoUs underscore DP World's commitment to facilitate trade in Gujarat by developing multi-purpose deep-draft ports in south Gujarat and around the western coast of Gujarat towards Kutch, Special Economic Zones in Jamnagar and Kutch, Gati Shakti Cargo Terminals (GCT) and Private Freight Stations at Dahej, Vadodara, Rajkot, Bedi, and Morbi.

DP World has also signed an MoU with Gujarat Maritime Board to jointly identify opportunities to develop additional ports along the coast of Gujarat, it added.

Commenting on the signing of the MoUs, the DP World Group Chairman and CEO, said, "We are very committed to India, where we have been operating for nearly 20 years. In that time, we invested almost USD 2.5 billion and are going to invest more in the next three years in these projects."

DP World's existing investments in Gujarat include a container terminal in Mundra, along with rail connected private freight terminals in Ahmedabad and Hazira.

It has also invested in cold storage facilities in Surat and Bharuch, freight-forwarding offices in Ahmedabad and Gandhidham, and express cargo services across the state, the company said.