DP World CEO Abdulla Bin Damithan gave an update on the port operator’s focus for investment in India and China in the upcoming future at the Dubai Maritime Agenda held on 22 September in Dubai.
“We are investing in facilities in India,” he said, adding that the port operator is not only investing in port but also logistics infrastructure, such as warehouses.
The strategic focus comes as India is a major trade partner for the United Arab Emirates.
“Through Jebel Ali Port, Jafza and the bilateral trade between the two countries, India has predominately been one of the UAE’s largest trade partners, boasting over USD60 billion with annual growth rate touching 11 %,” DP World states.
Earlier this year, in August, DP World also released the India-UAE Bridge, an initiative that will attract Indian trade and investments to its flagship Jebel Ali Port and Jafza by offering end-to-end solutions to companies and entrepreneurs.
One of the primary purposes of the initiative is to serve as a platform for talented Indians looking to share their ideas and businesses to markets in the Middle East and further. The businesses will enjoy the exposure and connectivity to shipping lines and services, through key ports in the region, including Jebel Ali Port, and the strategic incentives and benefits of Jafza.
In addition, DP World has committed to expand trade with China. In August, DP World announced that work for its Traders Market in Jebel Ali port, a partnership with Zhejiang China Commodity City Group Company (CCC) signed in July last year that will see the creation of the first smart Freezone market place in the Middle-East for the retail and wholesale industries, will begin later this year and take two years to complete. DP World holds a majority share in the 70/30 joint venture.
The Traders Market project will span approximately 800,000 m2, with Phase 1 development covering about 220,000 m2. Phase 1 Capex is estimated at USD150 million.