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Leading container terminal operator D P World offers Logistics faculties for the products of Jammu and Kashmir

DP World which owns several container terminals in Indian ports and  a leading logistic company  said it was committed to connecting Jammu and Kashmir to the rest of India and the world. The company owns several container terminals world over.

“We are committed to connect Jammu and Kashmir to the rest of India. We know how to do that, we know the obstacles,” Chairman and CEO DP World Sultan Ahmad Bin Sulayem told reporters in Srinagar. The investment by his firm in this regard will be part of the ‘Make in India’ initiative, he added.

DP World is a company owned by the Dubai government

DP World is a company owned by the Dubai government, via a holding company that is under the direct control of Dubai’s ruler, Sheikh Mohammed bin Rashid Al Maktoum. The company also signed an agreement with the Tamil Nadu government recently for a range of projects at an investment of Rs 2,000 crore last month.

MoU between J&K and Dubai

The CEO was part of the UAE delegation from Dubai which visited Jammu and Kashmir on October 18th. The J and K administration has signed a Memorandum of Understanding (MoU) with Dubai, for real estate development, industrial parks, IT towers, multipurpose towers and more, commerce ministry said in a release.

J&K is traversing on the “development bandwagon” said Piyush Goyal

Commerce Minister Piyush Goyal said J&K is traversing on the “development bandwagon” and that the MoU will attract foreign investment from across the globe. Different entities from Dubai have shown keen interest in investment, he said while participating in the MOU signing ceremony at Srinagar

J&K Lieutenant Governor Manoj Sinha said the new agreement with Dubai will help the union territory in terms of industrialisation and sustainable growth.

In January this year, the J&K administration had announced a new industrial developmental scheme with a total outlay of Rs 28,400 crore to encourage new investment and to take industrial development to the block level. 

The announcement of the MoU between Dubai and the J&K administration comes amid an ongoing world Expo, the world’s biggest trade and commerce event currently being hosted by Dubai, which began on 1 October 2021 and will continue till 31 March 2022.
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