Port operator DP World has sights set on India logistics network

Business


Dhiraj Singh | Bloomberg | Getty Images

Shipping containers and gantry cranes stand at a container transhipment terminal operated by DP World in Cochin, India.

The port operator recently signed a $3 billion joint venture with the National Indian Infrastructure Fund to improve logistics in various areas.

According to the DP World website, the company is currently operating or developing ports in six cities in India: Mundra, Nhava Sheva, Cochin, Chennai, Visakhapatnam and Kulpi. In Asia, the firm also works in Thailand, Vietnam, China, Indonesia, the Philippines and South Korea.

Although the environment in the United States is “good for business” now, DP World has not found the right opportunity to enter the market there, Bin Sulayem said.

[President Donald] Trump is lifting his foot from the brake. He removed regulations that are becoming bottlenecks for businesses,” he said. “He gave some visibility of what he wants to do.”

The CEO also took a positive tone on Trump’s trade rhetoric.

“What he’s talking about is not protectionism. What he’s talking about is free trade,” Bin Sulayem said. “He’s saying, ‘I want free trade to be fair trade — if you don’t open your markets, why should we open our market?’ I think it’s fair.”

But the “expensive” costs to operate ports in the U.S. are prohibitive now, he said.

“There is nothing to stop us to go to the United States, we can always go. We haven’t found the right opportunity. The cost of operations in the States makes the returns very low.”



Source link

Products You May Like

Articles You May Like

Instant payment apps grow up. They’re not just for millennials anymore
The 10 best states to retire in
Dysautonomia Int’l rings opening bell at New York Stock Exchange
Delta profits crimped by pricier fuel
Stressed about money? Here’s what to do about it

Leave a Reply

Your email address will not be published. Required fields are marked *