DP World Invests Rs 24,000 Crore in Gujarat, Transforming Nargol into a Key Port Hub

Dubai-based DP World has recently committed to a substantial investment of Rs 24,000 crore in Gujarat, India, to enhance various logistical facilities within the state. This commitment includes plans to construct a port in Nargol, South Gujarat.

In December 2023, DP World solidified its dedication through six Memorandums of Understanding (MoUs) with the Gujarat Maritime Board (GMB), a state government agency responsible for port and port-led infrastructure development. These agreements are part of the state government's prelude to the 10th edition of the Vibrant Gujarat Summit, scheduled for January 10-12, 2024.

Under one of the signed MoUs, DP World aims to invest Rs 10,000 crore to develop Nargol into a 'mega multi-commodity deep draft port,' positioned by the state government as a potential alternative to Jawaharlal Nehru Port (JNPT) in Mumbai.

Beyond the proposed investment in Nargol, DP World has also entered into MoUs for an additional investment of Rs 5,000 crore to establish a multi-purpose deep draft port in Kutch, and another Rs 2,000 crore for a similar deep draft port in Jamnagar district of Gujarat.

Moreover, DP World's commitment extends to the expansion of its existing facilities within the state. Since 2003, the company has operated an international container terminal at Mundra in Kutch, along with inland terminals in Ahmedabad and Hazira near Surat.

News by Rahul Yelligetti