WGS 2018: DP World, India’s Infrastructure Fund Plan US$3 Billion Investment

 DP World Ltd., the Dubai-based port operator that manages terminals from Hong Kong to Peru, and India’s National Investment & Infrastructure Fund (NIIF) plan to jointly invest up to US$3 billion in the South Asian nation, said His Excellency Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, on day one of the sixth World Government Summit (WGS 2018) in Dubai.

During a panel discussion titled ‘Smart Trade, Transport and Logistics Solutions’, moderated by CNN’s Richard Quest, Bin Sulayem expressed optimism at India’s pace of progress. He said: “One of the problems that we currently face is in the last-mile delivery of cargo to the customer. However, we are looking at alternative ways of transporting cargo, such as inland waterways. India has an extensive network of rivers – we are building special vessels that can navigate these waterways.”

Echoing this sentiment, Sujoy Bose, CEO of NIIF, said: “55-60 percent of Indian cargo currently moves by road, and only 5-10 percent is marine cargo. The inland waterways project, which the World Bank has invested in, is picking up steam and will be a gamechanger for the logistics industry.”

Speaking about the joint investment between NIIF and DP World, he said: “We are creating a platform that will offer customers an efficient way to transport cargo. We are investing substantial capital into this project and combining it with global expertise to develop world-class facilities.”