DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem met with the
Honourable Prime Minister of India Shri. Narendra Modi at the 8th edition of
the Vibrant Gujarat Global Summit held in Ahmedabad, India, says a release on
11 Jan '17.
Discussions highlighted the immense potential of India’s growing economy
and the nation’s maritime and inland trade. New opportunities resulting from
the Prime Minister’s programmes such as Invest India, Digital India, Skill
India and Made in India were also on the agenda, evidence of the new economic
direction of the country.
Mr. Bin Sulayem also joined a Global CEOs' meeting at the Summit chaired by
the Prime Minister. He outlined the importance of the innovation and
opportunities for investors in trade, logistics and the maritime sector. The
conference hosted 35 foreign business leaders and 23 Indian industrialists.
DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said: “We are
proud of the role we have played serving India’s growing economy for more than
a decade, during which we have worked closely with the government to redefine
the container terminal business by introducing new technologies, world class
infrastructure and international operating practices.
DP World has invested in the development of 5 international gateway ports
in India and we believe making ports more productive across the country rather
than building more greenfield sites is the way forward. There is also a great
need to reach internal markets, invest in cold storage facilities and networks,
using coastal and inland waterways to increase efficiencies and lower costs. By
developing this transport infrastructure – at existing ports, multi-modal
transport including rail for freight and more use of waterways – there will be
a direct economic impact benefitting manufacturing and agriculture, those in
cities and the rural farming community.”
“Meanwhile, we are reinforcing our commitment to economic development
through our operations in the country, where we have invested US $1.2 billion
to date, supporting over 30% of India’s container trade. Being one of the
strongest emerging economies in the world, it offers immense potential for
growth in maritime and inland trade.
“We are also looking for investment opportunities worth over US $1 billion
over the next few years offering our partners the opportunity to grow and
expand their business. We remain committed to our operations in the country,
which form an important part of our global network.”
DP World is a market leader in Indian container terminal operations, with
the largest portfolio of investments in ports along the Indian coastline. The
network stretches across ports in Gujarat (Mundra, 2003), Maharashtra (Nhava
Sheva, 1999 and 2012), Kerala (Cochin, 2005), Tamil Nadu (Chennai, 2001),
Andhra Pradesh (Visakhapatnam, 2002). It has also created rail connections to
the hinterland and owns a national rail license from the Government to operate
7 container trains from major hinterland markets to major gateways in Mundra
and Nhava Sheva.
India and the UAE continue to have a long lasting trading relationship with
bilateral trade reaching US $60bn in 2015.