His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Friday inaugurated a new wharf at DP World's Nhava Sheva Gateway Terminal at Mumbai's Jawaharlal Nehru Port, India's largest container port.
The opening came as DP World announced during a business reception in Mumbai that its investments in India topped $1 billion.
Sheikh Mohamed commended DP World's investment strategy in India, saying that it boosted economic relations between the two nations. DP World's new investments cover expansion of existing terminals and long-term management contracts for new terminals and container.
DP World is India's only foreign port operator where it has invested $1.2 billion in its activities. It controls 30 per cent of India's container handling capacity.
Sultan Ahmed bin Sulayem, DP World Chairman and Chief Executive Officer, said the company's investments in India came as part of its strategy to boost port management activity around the world. "We stress our commitment to contributing to India's economic growth through our work in this country. Since the start of our work, we have invested more than $1 billion in our operations."
He said the new wharf was 330 metre long. "Given India's place as one of the world's leading emerging economies and its burgeoning middle class, the opportunities in sea transport sector are limitless," he said.