Friday, January 13, 2017

DP World CEO Meets Indian PM to Discuss Development of Logistics Industry in the Country

Part of Wider Discussions on Investment in Subcontinent
Shipping News Feature
INDIA – UAE – The Chairman and CEO of port and logistics group DP World, Sultan Ahmed Bin Sulayem, met this week with the Prime Minister of India Shri. Narendra Modi at the 8th edition of the Vibrant Gujarat Global Summit held in Ahmedabad, India. The pair discussed India’s growing economy and maritime and inland trade. The Sultan also joined a Global CEOs' meeting at the Summit chaired by the Prime Minister and hosting 35 foreign business leaders and 23 Indian industrialists where he outlined the importance of the innovation and opportunities for investors in trade, logistics and the maritime sector.

DP World is a market leader in Indian container terminal operations, and with contracts to run five ports in the country enjoys the largest portfolio of investments in ports along the Indian coastline. It has also created rail connections to the hinterland and owns a national rail licence from the Government to operate container trains from major hinterland markets to major gateways in Mundra and Nhava Sheva. DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said:

“We are proud of the role we have played serving India’s growing economy for more than a decade, during which we have worked closely with the government to redefine the container terminal business by introducing new technologies, world class infrastructure and international operating practices.

“DP World has invested in the development of five international gateway ports in India and we believe in making ports more productive across the country rather than building on more greenfield sites is the way forward. There is also a great need to reach internal markets, invest in cold storage facilities and networks, using coastal and inland waterways to increase efficiencies and lower costs. By developing this transport infrastructure, at existing ports, multi-modal transport including rail for freight and more use of waterways, there will be a direct economic impact benefitting manufacturing and agriculture, those in cities and the rural farming community.

“Meanwhile, we are reinforcing our commitment to economic development through our operations in the country, where we have invested $1.2 billion to date, supporting over 30% of India’s container trade. Being one of the strongest emerging economies in the world, it offers immense potential for growth in maritime and inland trade.

“We are also looking for investment opportunities worth over US $1 billion over the next few years offering our partners the opportunity to grow and expand their business. We remain committed to our operations in the country, which form an important part of our global network.”