DP World to invest USD 5 bn in India’s infrastructure

Mumbai Oct 30 PTI Logistics operator DP World on Thursday said it has pledged to invest an additional USD 5 billion in India to strengthen its integrated supply chain network, which supports both exports and domestic trade.

Mumbai Oct 30 ( PTI) Logistics operator DP World on Thursday said it has pledged to invest an additional USD 5 billion in India to strengthen its integrated supply chain network, which supports both exports and domestic trade. The company in a statement said this is in addition to the USD 3 billion that DP World has already invested in India over the past three decades.

These investments are focused on strengthening India's infrastructure backbone, advancing multimodal connectivity, and enhancing the nation's competitiveness in global trade, it said. Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, said, ''DP World has been a part of India's growth story for nearly three decades. This new investment combined with the strategic partnerships, reaffirm our commitment to advancing India's maritime and logistics industry and cementing the nation's position in global trade.'' Aimed at further lowering logistics costs, supporting local manufacturing, and expanding access to markets across the country, these initiatives will strengthen India's innovative and sustainable maritime capabilities, he added.

The statement said the MoUs signed by DP World at the India Maritime Week span green coastal shipping, shipbuilding, ship repair, skill development, and advanced freight mobility, all aimed at accelerating the sector's sustainable growth and efficiency

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)