DP World To Invest $1 Bn More In India Maritime Infra: CEO

NEW DELHI: Leading global operator of marine and inland terminals, DP World today pledged $1 billion investment in India to tap into the opportunities the country offers in infrastructure space. 

This will be in addition to its existing over USD 1 billion investment here, DP World's Group Chairman and CEO Sultan Ahmed Bin Sulayem said.

"We are very excited about the opportunities in India. We are not constrained for capital given the right commercial and economic dynamics... 

"We have pledged over a billion dollar investments here," Sulayem told reporters on the sidelines of India Integrated Transport & Logistics Summit 2017. 

The Dubai-based operator, which has already invested over a billion dollars in expansion of its facilities here, said it is looking at several investments in India in the logistic sector and online transactions of customs services. 

"Our expertise can help India grow faster in this space as millions of tonnes of wheat and thousands of tonnes of fruits and vegetables get wasted here in want of warehousing and storage," Sulayem said. 

He said DP World is in the country for a long time and wants "to become major contributors in partnership with the government to achieve the objectives of lowering logistics cost in India". 

The supply chain has lots of inefficiencies here and farmers are not able to preserve their crops with half of it going wasted. 

"We have expertise in logistics. We have done it throughout the world so we are excited to join hands with government to invest in this opportunity. It will involve policy, procedure, IT hardware, warehouses," he said. 

Earlier in his special address at IITL Sulayem drew a comparison between India and China saying that both the economies had maximum population but there is a huge difference in the amount of cargo handled in both the countries. 

"While China handles 100 million container cargo, India handles barely 10 million," he said. 

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