Latest news with #DPWorldGroup
Trade Arabia
13-04-2025
- Business
- Trade Arabia
DP World launches new free trade warehousing zone in Mumbai
DP World, a global leader in logistics and supply chain solutions, has announced the opening of its free trade warehousing zone - Nhava Sheva Business Park (NSBP) - in India's commercial capital Mumbai. The Nhava Sheva Business Park offers 1 million sq ft of warehousing space with another one million in the planning stage. With this, DP World has developed three world-leading free trade warehousing zones in India at an investment of over $200 million. The other two are in the south of the country - Integrated Chennai Business Park in Tamil Nadu and the Cochin Economic Zone at Kochi, Kerala. Strategically located close to India's coasts, they offer advanced infrastructure, flexible warehousing, ease of regulations, and seamless value-added services, making operations simpler. The NSBP offers 1 million sq ft of warehousing space, with another one million in the planning stage. It offers specialised and temperature-controlled spaces, catering to diverse industry needs. As part of DP World's global network of 12 free trade warehousing zones, the NSBP enhances India-UAE trade by cutting costs, improving efficiency, and boosting supply chain competitiveness. These three Indian free trade warehousing zones are well integrated with DP World's Jebel Ali Free Zone (Jafza) facilitating seamless cargo movement and strengthening global trade connectivity for India and the UAE. The new zone was inaugurated by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence of the UAE during his official visit to the country. He later toured the facility accompanied by DP World Group Chairman and CEO Sultan Ahmed bin Sulayem where he was briefed on the various operations, value added services, and customised services deployed to enhance the efficiency of the free trade warehousing zone. Speaking on the occasion, Sheikh Hamdan said: "The UAE and India share a long-standing and deep-rooted economic partnership. The establishment of world-class logistics infrastructure, such as the NSBP not only strengthens the trade connectivity between our nations but also reinforces our shared vision for growth, innovation, and sustainability." Bin Sulayem said DP World was committed to building infrastructure that powers global trade. "Our investment in NSBP further strengthens our infrastructure network in India and will enable us to meet the evolving needs of our large and growing customer base in the country and in the region," he stated. "The Comprehensive Economic Partnership Agreement (Cepa) between the UAE and India is already accelerating bilateral trade, and the Free Trade Warehousing Zones network will ensure greater efficiency, sustainability, and scale," he added. During the facility's inauguration, 35 women recruited from local communities worked the shift -reflecting DP World's efforts to generate employment in the regions where it operates. This initiative aligns with the company's broader diversity, equity, and inclusion (DEI) objectives in India, aimed at increasing female representation and fostering a more inclusive work environment within the logistics sector. It also supports DP World's strategic vision for the SCO region, promoting women-staffed warehouses across its operations.
Hi Dubai
11-04-2025
- Business
- Hi Dubai
DP World Breaks Ground on Bharat Mart in Dubai to Boost India's Global Trade Reach
Dubai has officially commenced construction of Bharat Mart, a landmark global marketplace by DP World aimed at transforming trade between India and the world. Unveiled in the presence of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, India's Commerce Minister Piyush Goyal, and DP World Group Chairman Sultan Ahmed bin Sulayem, the project marks a major milestone in UAE-India trade relations. Set to open by the end of 2026 in the Jebel Ali Free Zone (JAFZA), Bharat Mart will serve as a central hub for Indian micro, small, and medium enterprises (MSMEs), spanning 2.7 million square feet—with its first phase covering 1.3 million square feet. The facility will house 1,500 showrooms, over 700,000 square feet of warehousing and light industrial units, along with office and meeting spaces, including dedicated zones for women-led businesses. 'Dubai's infrastructure and connectivity make it a vital trade partner as India expands globally,' said H.H. Sheikh Hamdan. 'Bharat Mart will accelerate access for Indian goods to international markets.' Piyush Goyal hailed the project as 'transformative,' and praised DP World's Virtual Trade Corridor initiative under the India-UAE CEPA framework, which aims to scale bilateral trade to new heights. With direct access to Jebel Ali Port, Al Maktoum International Airport, and Etihad Rail, Bharat Mart will offer seamless multimodal logistics to Indian exporters. The hub connects to 150 maritime destinations and over 300 cities via air, significantly boosting market reach. Sultan Ahmed bin Sulayem emphasized the goal of achieving $100 billion in non-oil trade by 2030, highlighting Bharat Mart's role in unlocking new markets and driving sustainable growth. Currently, JAFZA hosts over 2,300 Indian companies—up 15% year-on-year—cementing Dubai's status as a gateway for global commerce. News Source: Emirates News Agency
Khaleej Times
13-03-2025
- Business
- Khaleej Times
DP World reports record revenue of $20 billion for 2024
DP World on Thursday announced a record revenue of $20 billion for 2024, marking a 9.7 per cent increase from the previous year. The company's adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) also reached a record high of $5.5 billion, reflecting a 6.7 per cent growth and an adjusted Ebitda margin of 27.2 per cent. The 9.7 per cent revenue increase was driven primarily by improved performance in ports and terminals, alongside contributions from recent acquisitions and concessions, DP World said in a statement. Revenue per twenty-foot equivalent unit (TEU) rose by 13.9 per cent on a like-for-like basis, with significant growth reported in the Middle East and the Americas. DP World reported a profit of $1.5 billion for the year, a 2.0 per cent decline attributed to higher finance costs. Sultan Ahmed bin Sulayem, DP World Group chairman and CEO, said the record revenue and Ebitda for 2024 is a significant achievement in a complex geopolitical landscape. 'Our strategic focus on high-margin cargo and integrated supply chain solutions positions us for sustained growth and value creation,' he added. Sulayem emphasised the importance of enhancing efficiency and deepening partnerships to build a resilient business capable of seizing new opportunities as global trade evolves. He noted that the demand for integrated logistics solutions underscores the value DP World provides to its customers, helping them navigate complexities in supply chains. A DP World statement noted that the company's total capacity exceeded 100 million TEUs, supported by ongoing investments in key growth markets. In 2024, DP World allocated $2.2 billion in capital expenditure, an increase from $2.1 billion in 2023. The 2025 capital expenditure budget is projected at approximately $2.5 billion, focusing on facilities in the UAE, India, the UK, Senegal, and Saudi Arabia. DP World is enhancing its logistics portfolio to provide value-added services in fast-growing markets. The firm aims to leverage its infrastructure to deliver comprehensive supply chain solutions, capitalising on the rising demand for customised logistics services. Operating cash flow increased by 18.9 per cent to $5.5 billion. The company's net leverage ratio saw a decrease to 3.4x on a pre-IFRS16 basis, compared to 3.7x in FY2023, indicating improved financial health. DP World issued a $100 million blue bond, marking a significant step in its commitment to sustainability. The company also became the first logistics firm in the region to have its carbon reduction targets validated by the Science Based Targets initiative, surpassing its 10.5 per cent carbon emissions reduction goal and sourcing nearly 65 per cent of its electricity from renewable energy. Despite a strong performance in 2024, DP World faces uncertainties due to geopolitical risks and fluctuations in global trade. However, the company remains optimistic about its long-term growth prospects, supported by its integrated supply chain solutions and strategic investments.
Gulf Business
07-03-2025
- Business
- Gulf Business
DP World, Mawani inaugurate SAR3bn terminal in Jeddah
Image: Supplied The SAR3bn ($800m) modernisation and expansion programme has increased the terminal's capacity from 1.8 million to 4 million twenty-foot equivalent units (TEUs), with a long-term target of 5 million TEUs. The three-year project has transformed the South Container Terminal into one of the most advanced and sustainable container terminals in the region. The expansion includes additional ship-to-shore equipment, which will be deployed in response to growing demand. Since DP World first secured a concession outside the UAE in 1999, the Jeddah terminal has played a vital role in regional trade. This latest expansion carried out under a 30-year build-operate-transfer (BOT) agreement, strengthens Jeddah's position as a key trade gateway and aligns with Saudi Arabia's Vision 2030 strategy to enhance trade connectivity and economic diversification. A ceremony to mark the opening was attended by Saudi Minister of Transport and Logistic Services, Engineer Saleh bin Nasser Al-Jasser; DP World Group chairman and CEO, Sultan Ahmed bin Sulayem; Abdulla Bin Damithan, CEO and MD of DP World GCC; along with senior representatives from DP World, Mawani, government bodies, and key customers. This development underscores Saudi Arabia's commitment to strengthening its logistics sector and positioning Jeddah Islamic Port as a premier global trade hub. Read: DP World sets a milestone for regional trade Sultan Ahmed bin Sulayem stated, 'Today marks a significant milestone in our long-term strategic investment in Jeddah Islamic Port. This expansion builds on our 25-year legacy in Jeddah and reinforces our commitment to driving trade growth in the region. With this modernised terminal, we are enhancing efficiency, improving supply chain resilience, and creating new trade opportunities for the kingdom and beyond for decades to come.' Efficiency and sustainability The terminal's upgrades incorporate automation and digitalisation to boost efficiency. Smart systems will cut gate transaction times from two minutes to just 10 seconds. Additionally, IoT-enabled cargo tracking and AI-powered cargo tallying have been implemented to enhance operational accuracy. The expansion has also introduced automated and electrified yard cranes, while the number of quay cranes is set to increase from 14 to 17 by the end of 2025, and eventually to 22 as capacity expands to 5 million TEUs.
