News ID: 73789 |
Publish Date: 13:48 - 07 May 2017

DP World, India Ink MOU

DP WORLD has signed a Memorandum of Understanding with the Indian National Investment and Infrastructure Fund to ensure funding for its planned move to develop the country’s logistics sector.

DP World, India Ink MOU
According to MANA, the Dubai-based terminal operator is targeting investments of more than $1bn over the next few years for the development of port infrastructure for the Sagarmala project, creation of the Delhi-Mumbai industrial corridor, river transportation and cold storage, port-led special economic zones, free trade zones, inland container depots and cruise terminals.
The Sagarmala project is an ambitious government initiative to jump-start port-led industrial growth in India.
DP World’s volumes in the United Arab Emirates, including traffic at flagship facility Jebel Ali in Dubai, fell 5.3% in 2016 before gaining 1.8% year on year in the first quarter of 2017 to 3.7m teu.
The group’s overall 5.7% rise in volume to 16.4m teu in the first quarter was largely due to a strong performance in Europe and the Americas.
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