UAE’s DP World and India’s National Investment and Infrastructure Fund (NIIF) have signed a memorandum of understanding (MOU) to develop the logistics sector in India.

The MOU follows an earlier visit by DP World group chairman and ceo Sultan Ahmed Bin Sulayem to India where he met India’s prime minister Narendra Modi.

At that time, DP World announced that it was seeking opportunities in India worth over $1bn over the next few years. Potential opportunities include the development of port infrastructure of the Sagarmala project, creation of the Delhi–Mumbai Industrial Corridor, river transportation and cold chain storage, investing in port-led special economic zones, free trade zones, ICDs and cruise terminals.

Bin Sulayem commented: “The NIIF plays a crucial role in financing India's infrastructure and we welcome their approach to encouraging development in the sector.

“One of the key priorities of the Indian government is preventing the loss of agricultural produce. This can be managed through adequate marine and warehousing infrastructure including cold storage as well as development of inland waterways, reducing logistics costs at the same time.”

Source:seatrade-maritime.com