DP World to make AED 3.6bn investment in India
DP World has said it is planning to invest $1 billion on investment opportunities in India.
The Dubai-based ports operator said among the investments it could consider would be new or existing terminals in the country, inland container depots or expansion of rail services for rolling stock.
The announcement came during a visit to India by the Crown Prince of Abu Dhabi, Sheikh Mohammed Bin Zayed Al Nahyan.
“DP World has established a leading position in the Indian market and is a pioneer in the development of container terminals,” Sheikh Mohammed said in a press statement.
“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.”
DP World has already invested $1.2 billion on its operations in India, where it has six port concesssions, and has a 30 percent share of the market. It is the only foreign terminals operator in the country.
Dubai’s non-oil foreign trade with India has risen by 144 percent between 2004 and 2014, reaching $29.8 billion.
India was the city’s second-largest trading partner in 2015.
In January, DP World signed off a $2 billion deal with a Russian investment fund to develop infrastructure and ports in the world’s largest country.