Port operator already maintains 30 per cent market share in the Indian market
Dubai-based DP World expects to generate $1bn across six port concessions in India, where it has already invested some $1.2bn in capital over the past few years.
According to a company statement, the investments would include:
- Expansion in brownfield container terminals
- Long term greenfield container concessions
- Inland Container Depots (ICDs)
- Expansion of existing inter-modal rail services for rolling stock
DP World estimates its current market share of the Indian market at 30 per cent.
Sheikh Mohammed bin Zayed al-Nahyan, Abu Dhabi Crowne Prince, who headed a delegation to India last week, said DP World already has the biggest portfolio along the Indian coast and it is looking to enhance its presence there.
DP World Group Chairman and CEO Sultan Ahmed bin Sulayem added that the 330-metre berth Nhava Sheva (India) gateway terminal will allow DP World to further contribute to the growth of Indias maritime sector.
India is understood to be Dubais second largest trading partner in 2015, with bilateral trade valued at AED73.9bn ($20.1bn) billion during the first nine months of 2015 comprising imports of AED41.7bn billion, exports of AED14.5bn and re-exports of AED 17.6bn.
DP World earlier reported that it handled 61.7 million twenty-foot equivalent units (TEUs) across its global portfolio of container terminals during 2015, up from 60 TEUs handled in 2014.
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