Jammu and Kashmir, Dubai Ports sign MoU for developing inland hubs
February 8, 2018: The Jammu and Kashmir government and Dubai Ports Group have reportedly signed an agreement for a joint venture involving Rs 1,500 cr
February 8, 2018: The Jammu and Kashmir government and Dubai Ports Group have reportedly signed an agreement for a joint venture involving Rs 1,500 crore foreign direct investment for setting up inland logistic hubs in Jammu and Srinagar capital cities.
The agreement was finalised at the delegation level talks between Dubai Ports Group (DP World) Chairman Sultan Ahmed Bin Sulayem -led DP team and Jammu and Kashmir Finance Minister Haseeb Drabu-led state government team, informed an official spokesman.
According to a report by The Economic Times, Sultan Ahmed Bin Sulayem and his team held separate meetings with Finance Minister Haseeb Drabu and Industries Minister Chander Parkash Ganga, followed by delegation level parleys with the concerned ministers and officials.
Commerce Minister Chander Parkash Ganga, Principal Secretary Finance, Navin Kumar Choudhary, Principal Secretary Industries, Shailendra Kumar and other officials of the concerned departments were present at the delegation-level meeting, which deliberated in detail on the parameters of the MoU.
The MoU is to be subsequently signed by the Government of India with the Government of UAE to facilitate setting up the first inland logistics hub in Jammu and Kashmir.