Gujarat and DP World sign agreements to strengthen logistics
DP World has signed multiple Memorandums of Understanding (MoUs) worth INR 250 billion (approx. US$3 billion) with the Government of Gujarat, covering the development of new ports, terminals, and economic zones, strengthening its commitment to supporting trade in a growing Indian state, according to the company's release.
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.
The MoUs. underscore DP World’s commitment to facilitating trade in Gujarat by developing:
• 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.
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.
