Dubai-based port operator DP World plans to invest more than $1 billion in India over the next few years in a bid to further expand its operations in the country.
DP World is currently the only foreign operator in India with six port concessions and a market share of about 30 percent of market share.
Having already invested $1.2 billion in the country, the company intends to expand its footprint in areas including brownfield container terminals, long-term greenfield container concessions, inland container depots and inter-modal rail services for rolling stock.
“DP World has the biggest portfolio along the Indian coast and is looking to enhance its presence there, transferring the United Arab Emirates’ experience of infrastructure development in line with our plans to enhance the strategic relations between our countries and to take them to a higher level,” said Mohammed Bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, during his official visit to India last week.
“Being one of the strongest emerging economies in the world, India offers immense potential for growth in the maritime sector. With Nhava Sheva (India) Gateway Terminal, the new 330-metre berth, DP World will contribute even more to India’s growth offering our customers the ability to grow and expand their business,” said Sultan Ahmed Bin Sulayem, group chairman and chief executive officer of DP World.
Nhava Sheva terminal, the sixth in DP World’s Indian port portfolio, started its operation last week at Jawaharlal Nehru Port, the country’s busiest port.
DP World is the world’s fourth largest port operator. Majority owned by the Dubai government, it has a portfolio of 70 terminals in 31 countries across six continents.
According to the company, Dubai’s non-oil foreign trade with India has seen a 144 percent growth from 2004 to 2014. By the end of 2014, trade between two countries amounted to AED109.34 billion (€26.5 billion; $29.8 billion). In 2015, India was Dubai’s second-largest trading partner.