DP World unveils $1-bn infra plans

DP World, which is one of the leading global operators of marine and inland terminals, has committed a fresh investment of $1 billion in India in sectors such as dry ports, logistics, inland waterways, cold chains and various infra projects under the government's Sagarmala campaign, Chairman Sultan Ahmed Bin Sulayem said during the on-going India Integral Logistics and Transport Summit, where the company also signed memorandum of understanding with the Central government's National Investment and Infrastructure Fund for the purpose. As a matter of fact, during the recent visit of Sheikh Mohammed bin Zayed al-Nahyan, Crown Prince of Abu Dhabi, had agreed to cooperate with India in areas of infrastructure development. Now the company is putting that agreement in practice. Logistics is the biggest obstacle in the flow of goods in India owing to inefficiency in supply. India has an ambitious plan of developing about 35 logistic parks across the country. There is also a plan to develop a network of Inland waterways to reduce the cost of cargo transportation. Under Sagarmala project, the government has worked out plan for various port-led development initiatives, he said.