India has been identified as a key growth opportunity by DP World’s CEO Sultan Ahmed Bin Sulayem.
Speaking to CNBC at the World Government Summit, he outlined what he saw as a massive expansion in India’s shipping industry growth and, by extension, the logistics industry as a whole – and confirmed that DP World is already exploring these opportunities.
“India is going to be the biggest growth,” he said. “We feel it. And there are many initiatives by the Indian prime minister to basically increase production ... the ease of doing business, the financial systems, all that means there is going to be growth.”
DP World has already signed up to a $3 billion joint venture with the National Indian Infrastructure Fund to invest in the country’s logistics eco-system, which includes alternative means of transportation such the country’s waterways.
“The problem is trucking is difficult in India,” Sultan Ahmed Bin Sulayem commented. “So we are looking at waterways, rivers, transportation. That will simplify the operations that we have.”
The company is currently operating or developing ports in the Indian cities of Chennai, Cochin, Mundra, Nhava Sheva, Visakhapatnam and Kulpi.
This week, DP World confirmed that it had received approval from the Saudi Arabian ports authority for its plans to transform Jeddah’s docks – plans that were first unveiled in October last year.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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