Original news was published on 15 February, 2016

Emirati marine terminal operator DP World said it plans to invest more than US$1 billion in new infrastructure projects in India.

The firm operates six port concessions in the country and holds about a 30 percent market share, but expects increasing trade in the region, particularly from oil and gas shipments, will drive further competition.

“Being one of the strongest emerging economies in the world, India offers immense potential for growth in the maritime sector. We are reinforcing our commitment to enabling India’s growth and economic development through our operations in the country,” said DP World CEO Sultan Ahmed Bin Sulayem.

Proposed investment will include expansion of existing intermodal rail services for rolling stock and development of brownfield container terminals, as well as the acquisition of new Inland Container Depots, or ICDs, and long-term greenfield container concessions.

DP World’s CEO announced the funding pledge alongside Sheikh Mohammad Bin Zayed Al Nahyan, the crown prince of Abu Dhabi, during a visit to New Delhi. During their visit, the pair also took the opportunity to inaugurate a 330-meter berth at the Nhava Sheva (India) Gateway Terminal.

“DP World has established a leading position in the Indian market and is a pioneer in the development of container terminals. It has the biggest portfolio along the Indian coast and is looking to enhance its presence there, transferring the U.A.E.’s experience of infrastructure development in line with our plans to enhance the strategic relations between our countries and to take them to a higher level,” Zayed Al Nahyan said.

*NEWS SOURCE