DP World to up investment in India to $2 bn

DP World to up investment in India to $2 bn
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First Published: Sun, Mar 18 2007. 11 44 PM IST
Updated: Sun, Mar 18 2007. 11 44 PM IST
DP World, the world’s third-biggest operator of container ports, said its investment in India will reach $2 billion in the coming years and the company may also invest in the Baltic region.
“DP World has invested $1.5 billion in container-terminal infrastructure in India, and over the next several years, this investment is likely to reach $2 billion,” DP World senior vice- president and managing director Ganesh Raj said on Sunday.
India has 7,517km of coastline and wants to increase container terminals and dredge deeper channels to allow bigger ships to dock at the ports. DP World is building a $500 million container port in Kochi. “India is our focus area,” DP World CEO Mohammed Sharaf.
DP World is spending $190 million on expanding India’s Kulpi port, which it acquired when it bought Peninsular & Oriental Steam Navigation Co. last year.
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First Published: Sun, Mar 18 2007. 11 44 PM IST
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