Global terminal operator DP World has revealed that it is seeking investment opportunities in India worth over US $1 billion in the next few years. The group currently has invested capital of around $1.2 billion in the Indian market, with six port concessions in the country, and has a market share of around 30%.
The DP World investments could cover expansion through the development of brownfield container terminals; long term greenfield container concessions; the building of Inland Container Depots (ICDs); and the expansion of existing intermodal rail services.
During a recent visit to India, H.H. Sheikh Mohammad Bin Zayed Al Nahyan and H.E. Sultan Ahmed Bin Sulayem, chairman and chief executive officer, DP World, inaugurated the new 330m long berth at Nhava Sheva (India) Gateway Terminal (NSIGT). Sultan Ahmed Bin Sulayem, said, “With the new berth, DP World will contribute even more to India’s growth, offering our customers the ability to grow and expand their business.”
Dubai’s non-oil foreign trade with India has seen a strong 144 % growth between 2004 and 2014. By the end of 2014, trade between the two countries amounted to AED 109.34 billion (US$ 29.77 billion), compared to AED 44.87 (US$ 12.22) billion in 2004.