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 said. 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.
Maritime competition
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” which is being positioned by the state government as a future alternative to Jawaharlal Nehru Port or JNPT in Mumbai.
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.
