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DP World signs MOU with India to develop maritime infrastructure
DUBAI's DP World has signed an MoU with India's National Investment and Infrastructure Fund to develop India's maritime infrastructure and free trade zones.
The port operator said the agreement was initiated after Sheikh Mohammad bin Zayed Al Nahyan and DP World CEO Sultan Ahmed bin Sulayem visited India in February 2016.
At that time, DP World announced it was seeking development opportunities in the country worth US$1 billion over the next several years, reported American Shipper.
The visit was a step to develop Indian Prime Minister Narendra Modi's "Make in India" campaign, said Mr bin Sulayem.
By encouraging foreign investment and funding port infrastructure at Sagarmala, the Delhi-Mumbai Industrial Corridor, river transport and cold chain storage, and free trade zones can be expanded.
"One of the key priorities of the Indian government is preventing the loss of agricultural produce," said Mr bin Sulayem.
"This can be managed through adequate marine and warehousing infrastructure including cold storage as well as development of inland waterways, reducing logistics costs at the same time," he said.
The port operator said the agreement was initiated after Sheikh Mohammad bin Zayed Al Nahyan and DP World CEO Sultan Ahmed bin Sulayem visited India in February 2016.
At that time, DP World announced it was seeking development opportunities in the country worth US$1 billion over the next several years, reported American Shipper.
The visit was a step to develop Indian Prime Minister Narendra Modi's "Make in India" campaign, said Mr bin Sulayem.
By encouraging foreign investment and funding port infrastructure at Sagarmala, the Delhi-Mumbai Industrial Corridor, river transport and cold chain storage, and free trade zones can be expanded.
"One of the key priorities of the Indian government is preventing the loss of agricultural produce," said Mr bin Sulayem.
"This can be managed through adequate marine and warehousing infrastructure including cold storage as well as development of inland waterways, reducing logistics costs at the same time," he said.
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