DP World to analyze investments in India
Global port operator and logistics firm DP World has announced that it seeks opportunities in India worth over $1 billion over the next few years.
The group has already invested capital of $1.2 billion and is currently the only foreign operator with six port concessions in the country with approximately 30% market share.
The announcement was made during a visit to New Delhi and Mumbai by Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces of the United Arab Emirates (UAE), and Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World. The visit follows a two-day official trip by Indian Prime Minister Narendra Modi to the UAE last August.
The DP World investments could cover:
- Expansion in brownfield container terminals
- Long term greenfield container concessions
- Inland Container Depots (ICDs)
- Expansion of existing inter-modal rail services for rolling stock
H.H. Sheikh Mohammad Bin Zayed Al Nahyan, said:
“The UAE and India enjoy historic bilateral relations and these potential investments reinforce our confidence in the long term growth of the Indian economy and our desire to actively contribute to the economic development of this friendly nation. DP World has established a leading position in the Indian market and is a pioneer in the development of container terminals. It has the biggest portfolio along the Indian coast and is looking to enhance its presence there, transferring the UAE’s 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.”
In Mumbai, Sheikh Mohammad Bin Zayed Al Nahyan and Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World also inaugurated the new 330-metre berth at Nhava Sheva (India) Gateway Terminal (NSIGT), at India’s premier gateway port, Jawaharlal Nehru Port (JNPT).
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said:
“We are reinforcing our commitment to enabling India’s growth and economic development through our operations in the country, where we have invested over US $1 billion in the past supporting over 30% of India’s container trade.
“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.”
DP World's portfolio in India stretches across ports in Gujarat (Mundra, 2003), Maharashtra (Nhava Sheva, 1999 and 2012), Kerala (Cochin, 2005), Tamil Nadu (Chennai, 2001), Andhra Pradesh (Vishakapatnam, 2002).
Dubai’s non-oil foreign trade with India has seen a striking 144 per cent growth from 2004 to 2014. By the end of 2014, trade between the two countries amounted to AED 109.34 billion, compared to AED 44.87 billion in 2004.
India was Dubai’s second largest trading partner in 2015, with bilateral trade of AED 73.86 billion during the first nine months of 2015 – comprising imports of AED 41.73 billion; exports of AED 14.54 billion and re-exports of AED 17.59 billion.
Country news
-
-
February 12, 2016
Kerala identifies private partner for health & hospitality complex
Governent sources have recently announced that it is close to find a private partner to begin the first phase of the Global Ayurveda Village project, a public-private participation (PPP) project located in Thiruvananthapuram, the capital of the state of Kerala. Read more -
February 11, 2016
Bihar approves Patna metro project
Planned as a public-private partnership (PPP), the project will have three phases and 27 stations. In the first phase, it will complete North-South and East-West corridors. Read more -
February 09, 2016
IFC to advise Odisha on PPP hospital programme
IFC, a member of the World Bank Group, is partnering with India’s Odisha state to improve health infrastructure through a public-private-partnership (PPP) approach. As the lead transaction advisor, IFC will structure the rollout of low-cost hospitals that will offer quality medical care at affordable prices to all residents, especially those living in smaller towns and rural areas. The Odisha Affordable Healthcare Project will develop between up to a dozen hospitals with 50-200 beds each. At its full capacity of 2,400 beds, the project will increase overall beds in the state by 8% and increase availability of private beds by 15%. The project is the first large and systematic roll-out of hospitals under the PPP mode in India. The project is expected to attract private investments of between US$30-50 million. In the past, IFC has worked with the government of Odisha to promote private sector-led growth in the strategic sectors of agribusiness and tourism and implemented PPP projects in sectors such as energy-efficient street-lighting and solid waste management.IFC's committed portfolio in India is over US$5 billion as of June 30, 2015. In addition to strengthening local capital markets in India, IFC is focused on boosting financing in infrastructure and logistics, promoting financial inclusion, helping create conditions to attract increased private capital, and helping structure public-private partnerships. Read more -
February 08, 2016
Telecom Regulatory Authority of India to use PPP model
Bharat Net seeks to connect all of India’s households, particularly in rural areas, through broadband by 2017, forming the backbone of the government’s ambitious Digital India programme. Read more -
January 29, 2016
India approves hybrid annuity model for road PPP projects
The Indian Cabinet Committee on Economic Affairs has given its approval for the Hybrid Annuity model as one of the modes of delivery for implementing the highway projects. Read more
