DP World chairman announces $3 billion investment in Gujarat

Vibrant Gujarat Global Summit 2024: UAE-based multinational logistics company, DP World, has announced plans to invest $3 billion in Gujarat over the next three years.

The focus of these investments will be on state-of-the-art container terminals, aimed at bolstering Gujarat's economy, said DP World Chairman, Sultan Ahmed bin Sulayem at the Vibrant Gujarat Global Summit 2024 in Gandhinagar.

Sulayem highlighted the strong ties between the UAE and India, particularly Gujarat, stressing the exponential rise of the summit as India's premier business forum.

UAE's substantial investments in Gujarat

Sulayem lauded Gujarat's special place in robust bilateral relations between the UAE and India. He said that the UAE has become one of the biggest overseas investors in Gujarat, injecting over $2.6 billion since 2017. Additionally, Gujarat's exports to the UAE exceeded $7 billion last year, underscoring the flourishing economic collaboration.

DP World's ongoing investments

DP World initiated operations in Gujarat in 2003 with the Mundra International Container Terminal. Since then, the company has invested around $2.5 billion in Gujarat and other Indian states to develop a comprehensive multimodal logistics system, including ports, container freight stations, container terminals, cold chains, and express cargo services.

Strategic MoU and continued support

DP World solidified its commitment to Gujarat and India by signing a strategic Memorandum of Understanding (MoU) with the Gujarat government during the summit. This underscores DP World's dedication to the development of India's logistics sector. The company pledges ongoing support for Gujarat's manufacturing industries and the broader Indian economy.

Vision for deeper collaboration

Sulayem expressed optimism about deeper trade, employment, and cultural collaboration between India and the UAE in the future. The strategic partnership between DP World and the Gujarat government aligns with the broader vision of realising India's economic potential through initiatives like Gati Shakti.