|$1 billion investment in India's ports|
|Tuesday, 16 February 2016 15:43|
The Dubai-based investment group, DP World will invest over US$1 billion into India’s ports over the next few years.
The group has already invested capital of US$1.2 billion and is currently the only foreign operator with six port concessions in the country with approximately 30 per cent market share.
The DP World investments could cover the expansion of container services and improvements to supporting rail lines.
DP World also inaugurated the new 330-metre berth at Nhava Sheva Gateway Terminal (NSIGT), at the Indian port of Jawaharlal Nehru.
The group said in a statement that it sees India’s growing economy as having strong potential for the maritime sector.
Dubai’s non-oil foreign trade with India has seen a striking 144 per cent growth from 2004 to 2014 and India was Dubai’s second largest trading partner in 2015.
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