Dubai  DP World has promised to invest ₹24,000 crore in Gujarat for developing various logistic facilities in the state including a proposal to build a port at Nargol in South Gujarat.

The global logistics player signed six Memorandum of Understanding (MoUs) with Gujarat Maritime Board (GMB) — a State Government agency for the development of port and port-led infrastructure — earlier this month, official sources in GMB told. These MoUs are part of the agreements being signed by the State government in the run-up to the 10th edition of the Vibrant Gujarat Summit scheduled to be held on January 10-12, 2024.

As per one of the six MoUs inked in December 2023, DP World proposes to invest ₹10,000 crore in developing Nargol as a mega multi-commodity deep draft port. Apart from the proposed investments at Nargol, DP World has also signed an MoU for investing an additional ₹5000 crore for developing a multi-purpose deep draft port in Kutch and another ₹2,000 crore MoU for developing a similar deep draft port at Jamnagar district of Gujarat. An official from GMB however said that the proposed investments by DP World were also for expanding their existing facilities in Gujarat.

DP World has been operating an international container terminal at Mundra in Kutch since 2003. The company also operates inland terminals at Ahmedabad and Hazira near Surat.

DP World has also proposed to invest ₹2000 crore Free Trade Warehousing Zone (FTWZ) at Kandla in Kutch district and an additional ₹5000 crore for the development of Tuna Tekra container terminal in Kutch district. DP World signed a concession agreement with Deendayal Port Trust (DPT) in August for developing this terminal.