India Maritime Week: Five MoUs worth over Rs 4,000 cr signed with DP World

The agreements aim to strengthen port infrastructure, shipbuilding, and logistics capacity, aligning with the government's long-term plan to make India a global maritime hub.

Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal said, "Today, five MoUs worth over Rs 4,000 crores have been signed by DP World. It is a great initiative, and I believe this is how we are building our ecosystem of business policy and engagement in this maritime sector. This is mutual growth."

Sonowal noted that these collaborations are part of India's mission to create a robust maritime ecosystem backed by public-private partnerships. He said the Indian Port Act 2025 establishes a new governance framework aligned with global best practices and sustainability. The government has planned total investments of about Rs 80 lakh crore in the maritime and port logistics sector, he added.

"From USD 7.9 million in 2014-15 to USD 13.5 million in 2024-25, India's port performance has improved significantly," the minister said. "Average turnaround time declined from 96 hours to 49.5 hours, and pre-berthing detention dropped to 3.8 hours."

The MoUs signed by DP World are in line with the government's Maritime India Vision 2047, which focuses on transforming port operations, shipping, and shipbuilding. "Public-private partnership is not just welcome, it is foundational," Sonowal said. "The government remains open to co-design and co-invest with the private sector so that market insight meets state strategy."

DP World Chairman Sultan Ahmed Bin Sulayem said the partnerships reflect a "shared commitment and belief in the strength of India's economy." He said, "Today marks another step forward in strengthening our partnership with India's maritime and industry sectors. Together, we are building a more connected, competitive, and sustainable maritime future for India."

He added that the company's collaboration with Cochin Port Authority would upgrade infrastructure and improve handling capacity for next-generation vessels. "Together with Cochin Shipyard and the Centre of Excellence in Maritime and Shipbuilding, we are investing in skills and training to make India a global hub for shipbuilding and ship repair talent," Sulayem said.

DP World's initiatives include projects at Kandla Port, where new technology pilots will introduce high-speed, sustainable freight movement and clean energy in port operations. "This is a pilot project that will be born in India, a technology born in India, and we will take it to the world," Sulayem said.

Sonowal concluded that these MoUs "serve as milestones on the future pathway," building a maritime ecosystem that is "resilient, dynamic, inclusive, competitive, and future-ready." (ANI)