Dubai-based port operator DP World will be investing US$500 million in India by 2009 to expand operations.
Executive vice chairman and group CEO of port and free zone world of DP World, Jamal Majid Bin Thaniah, said India is the companys main focus. He said in the next few years transporting cargo will not be an end of a cycle, and the company is going beyond and creating other infrastructure needed for the movement of cargo into the hinterland.
The Dubai-based company has already invested $1.5 billion in their existing terminal facilities in Mundra, Nhava Sheva, Cochin, Chennai, Visakhapatnam.
It will be expanding the Kullpi terminal in eastern India and Vallarpadam in Cochin.
The company will also be creating dry ports, highways, rail links and even expanding the existing terminals in India in the next two years.
It is planning to acquire a second terminal at the Mundra International Container Terminal to cater to the rapidly growing container movement traffic in this region.
Thaniah said the company sees more export and import business growing in the subcontinent. The Mundra terminal gives the company great business as it is less congested.
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