H.E. Bin Touq visits UAE’s Palwal Logistics Park
Abu Dhabi, 17 March 2023:
H.E. Abdulla Bin Touq Al Marri, Minister of Economy, visited the UAE’s Palwal Logistics Park project in New Delhi, which was developed by Hind Terminals Private Limited, Sharaf Group’s subsidiary in India. The Minister of Economy was welcomed by General (eng.) Sharaf Aldeen Sharaf Al Hashmi, Vice Chairman of Sharaf Group, at the site. H.E. Bin Touq was in India to attend the CII Partnership Summit 2023.
H.E. Bin Touq said that the UAE’s investments in foreign markets continue to grow, with today’s investments turning out to be more sustainable with growing revenues and adding economic value to the markets they operate in. These projects also contribute to creating job opportunities in those markets and lead to unique and fruitful partnerships in various economic sectors, thus supporting the UAE’s new economy based on more openness, diversity, and flexibility.
H.E. Bin Touq added: “The UAE’s investments in India are witnessing rapid growth and as a result, the UAE is one of the top investors in India today.” He stated that the Palwal Logistics Park is one of the largest UAE projects in New Delhi that significantly supports India’s transport and logistics market. It is also seen as a unique investment model in logistics that offers a unique set of capabilities and services that meet the needs of importers, exporters, and business owners.
The Palwal Logistics Park sprawls over an area of 5 million sq ft with a 65,000 sqm container yard, 9,000 sqm of warehouses, 9,360 sqm of space for chillers, another 65,000 sqm space for the iron stores area, and 6,500 sqm for general warehouses, in addition to train stations and 28 car trailers.
During the visit, H.E. Bin Touq learned about the project’s expansion and investment plans for the next phase, as well as the services that it offers, which include large areas and warehouses to store multi-purpose goods, refrigerated goods and perishables. The facility has its own transportation network, which consists road and rail transport in accordance with the highest safety and quality standards. H.E. also reviewed the investment agendas of Hind Terminals Private Limited in a number of other Indian states.
Hind Terminals Private Ltd’s investments & expansions plans in India
Hind Terminals Private Limited currently has investments in several Indian states including Haryana, Punjab, Gujarat, Maharashtra, and Tamil Nadu. Its strategic plan for the next five years includes the development of a leading competitive economy by mobilizing new investments to expand in other Indian states such as Rajasthan, Haryana, and Uttar Pradesh. Various agreements have also been signed as part of the company’s future expansion plans in these states.
Sharaf Group is known for its investments in shipping, logistics, supply and supply services, retail, travel and tourism, financial services, hospitality and real estate, education and manufacturing sectors. The Dubai-based group currently operates in 60 countries in the Middle East, Africa, the Indian subcontinent and Asia.
Sharaf Aldeen Sharaf Al Hashmi, Vice Chairman of Sharaf Group, said: The Palwal Logistics Park is the biggest project by the UAE in the Indian capital New Delhi, and it contributes to the further development of UAE-India relations in light of the CEPA that was established between the two countries.”
H.E. Al Hashmi said that the two countries share solid historic relations that continue to witness tremendous growth in all fields, especially the fields of economy, trade, and infrastructure. He explained that the project’s returns will positively impact the UAE’s foreign investments in general and support the government’s efforts to build a leading future economy that is led by Emiratis from the forefront.
H.E. added: “Hind Terminals is a subsidiary of Sharaf Group in India that focuses on an array of key sectors such as logistics, railway transportation, road transportation and refrigeration stores.” H.E. also pointed out the geographic significance of the Palwal Logistics Park as it connects all Indian cities to the country’s ports. He added that there are expansion plans that include various states in India, and that an unprecedented growth is expected in the logistics services sector via land and sea ports.
Furthermore, the Vice Chairman of Sharaf Group highlighted the UAE’s continuing efforts to enhance the sustainable growth and competitiveness of the national economy, which have solidified the UAE’s global position as an effective contributor to the achievement of comprehensive sustainable development.
Hind Terminals, the owner of Palwal Logistics Park, recently received the necessary licenses from the relevant Indian authorities to transport goods via railways, which will give it an added advantage in the Indian market, in addition to its own railway parking and the handling of 1.1 million containers in 2022.
Hind Terminals has invested in several key sectors including logistics and has infrastructure projects spread all over India.
Last Updated on 10 months by News Desk 2
