DP World, the Dubai-based global ports operator, has pledged to invest an additional $5 billion in India, the company announced on Thursday, as it works to strengthen its integrated supply chain network.
The new investment is in addition to the $3 billion DP World has already invested in India over the past three decades, focused on "strengthening the country's infrastructure backbone, advancing multimodal connectivity and enhancing the nation’s competitiveness in global trade", the company said.
The announcement, made at India Maritime Week, comes after DP World signed five agreements with Indian companies – among them, a deal between Unifeeder and Sagarmala Finance Corporation to advance green coastal and short-sea shipping, and another between Cochin Shipyard Limited, Drydocks World and the Centre of Excellence in Maritime and Shipbuilding, to advance skill development in shipbuilding and repair.
"This new investment, combined with the strategic partnerships, reaffirms our commitment to advancing India’s maritime and logistics industry, and cementing the nation’s position in global trade," said Sultan bin Sulayem, group chairman and chief executive of DP World.
"Aimed at further lowering logistics costs, supporting local manufacturing and expanding access to markets across the country, these initiatives will strengthen India’s innovative and sustainable maritime capabilities.”
The agreements are aimed at helping India "chart out a bold course towards global maritime leadership", he added. According to the company statement, DP World’s network in India covers more than 200 sites and has created more than 24,000 jobs in the country.
Breast cancer in men: the facts
1) Breast cancer is men is rare but can develop rapidly. It usually occurs in those over the ages of 60, but can occasionally affect younger men.
2) Symptoms can include a lump, discharge, swollen glands or a rash.
3) People with a history of cancer in the family can be more susceptible.
4) Treatments include surgery and chemotherapy but early diagnosis is the key.
5) Anyone concerned is urged to contact their doctor
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
A cheaper choice
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Benefits: No tax, no restrictions on dual citizenship, no requirement to visit or reside to retain a passport. Visa-free access to 129 countries.
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Tell Me Who I Am
Director: Ed Perkins
Stars: Alex and Marcus Lewis
Four stars
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