Investment bonanza for Gujarat another major port at Nargol

DP World has promised to invest Rs 24,000 crore in Gujarat for developing various logistic

facilities in the state including a proposal to build a port at Nargol in South Gujarat. If this port 

comes up it will be situated less than 100 kilometers from the Mega port being constructed by

Jawaharlal Nehru port in Vadavan/

The global logistics player signed six Memorandum of Understanding (MoUs) with Gujarat Maritime Board (GMB) — a State government agency for the development of port and port-led infrastructure — earlier this month, official sources in GMB said. These MoUs are part of the agreements being signed by the State government in the run-up to the 10th edition of the Vibrant Gujarat Summit scheduled to be held on January 10-12, 2024.

As per one of the six MoUs inked in December 2023, DP World proposes to invest Rs10,000 crore in developing Nargol as a “mega multi-commodity deep draft port” which is being positioned by the state government as a future alternative to Jawaharlal Nehru Port or JNPT in Mumbai.              

Apart from the proposed investments at Nargol, DP World has also signed an MoU for investing an additional Rs 5000 crore for developing a multi-purpose deep draft port in Kutch and another Rs 2,000 crore MoU for developing a similar deep draft port at Jamnagar district of Gujarat. An official from GMB however said that the proposed investments by DP World were also for expanding their existing facilities in Gujarat.