DP World, a multinational logistics company based in Dubai, has signed multiple Memorandums of Understanding (MoUs) worth Rs 250 billion ($3 billion) with the state government of the Indian state of Gujarat, to develop new ports, terminals, and economic zones, a report said.

DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem and M K Das, Additional Chief Secretary, Government of Gujarat, signed the MoUs during the Vibrant Gujarat Global Summit 2024 being held in Gandhinagar (January 10-12), Emirates News Agency, WAM, said.

The MoUs highlight Gujarat’s prowess as a role model of development and the growth engine of the nation while leveraging its logistics and maritime infrastructure, said a statement.

Under the agreement, DP World’s will develop:

• Multi-purpose deep-draft ports in South Gujarat and around the western coast of Gujarat towards Kutch
• Special Economic Zones in Jamnagar and Kutch
• Gati Shakti Cargo Terminals (GCT) and Private Freight Stations at Dahej, Vadodara, Rajkot, Bedi and Morbi

DP World has also signed an MoU with Gujarat Maritime Board to jointly identify opportunities to develop additional ports along the coast of Gujarat.

Sultan Ahmed bin Sulayem, Chairman and CEO, DP World Group, said: “We are very committed to India, where we have been operating for nearly 20 years. In that time, we invested almost $2.5 billion and we are going to invest more in the next 3 years in these projects.

“The policies of the government and our experience here is what gives us the confidence to do even more in India. We have also been present in Gujarat since 2003 and are proud to have been part of the state’s growth story. We are honoured to continue our partnership in the state by committing to strengthening its logistics and maritime infrastructure to further enable trade in Gujarat.”

DP World's existing investments in Gujarat include a container terminal in Mundra, along with rail connected private freight terminals at Ahmedabad and Hazira. This is complemented by cold storage facilities in Surat and Bharuch, freight forwarding offices in Ahmedabad and Gandhidham, and express cargo services across the state.

Additionally, DP World ensures global connectivity for businesses in the region by running weekly coastal services via DP World's Unifeeder Group, linking Mundra, Kandla, and Hazira ports to several international ports.

The company recently launched a first-of-its-kind dedicated scheduled Rail Freight Service, ‘Saral’ connecting traders from south Gujarat such as Surat, Vapi, Valsad Vadodara, Bharuch, Ankleshwar to the markets in and around North Capital Region (NCR).

On 25 August 2023, DP World signed a $510 million concession agreement with the Deendayal Port Authority to develop, operate and maintain a new 2.19 million TEU per year mega-container terminal at Tuna-Tekra in Kandla. On commencement, this greenfield terminal will have state of the art equipment and a 1,100 m berth capable of handling next-generation vessels carrying more than 18,000 TEUs.