DP World to invest $1 billion in Indian logistics sector

The UAE-based DP World has committed $1 billion (~6,400 crore) investment in Indian infrastructure, including logistics and container terminals.

“We have already invested $1 billion and will soon invest another $1 billion,” Sultan Ahmed bin Sulayem, chief executive officer, DP World, said at the India Integrated Transport and Logistics Summit 2017.

DP World runs marine and inland terminals and offers maritime, logistics, ancillary and technologydriven trade services.

It has invested in five international ports in India.

There was also a need to reach internal markets, invest in cold storage facilities and networks, as well as use coastal and inland waterways to increase efficiencies, Sulayem said.

Earlier this year, DP World had hinted at investment opportunities of over $1 billion in Indian ports and logistics.

The Dubai-headquartered company now supports about 30 per cent of India’s container trade.

Transport Minister Nitin Gadkari said investments worth ~2 lakh crore were expected during the logistics summit.

The three-day event is being attended by players from Singapore, Hong Kong and Abu Dhabi.

The Centre plans to build 35 multi-modal logistics parks in the country to cater to 50 per cent of freight movement.

The parks will lead to a 10 per cent reduction in transportation costs and a 12 per cent reduction in carbon dioxide emissions, it is claimed.

The government is working on a policy for development of these parks.

The transport ministry has sought infrastructure status for these parks.

DP World also announced it had signed an MoU with the National Investment and Infrastructure Fund to develop the logistics sector in India.