December 7, 2022

Dubai firm to build dry port in Jammu And Kashmir

Lieutenant Governor Manoj Sinha (R) during the signing of an MoU with Lulu Group to set up a food processing hub in Srinagar during his visit to Dubai, UAE

Lieutenant Governor Manoj Sinha, in Dubai this week to promote investment, said DP World would soon visit the 250-acre site earmarked for the inland port facility.

“We will finalise it shortly,” he said, describing the project as a “firm commitment” by state-owned DP World.

A DP World spokesperson said the company had a “productive meeting” with Sinha on Thursday and that it was preparing a proposal for the project.

The announcement last October that dubai  would invest in the ‘India-occupied’ region was the first by any government since Delhi revoked its autonomy in 2019 and divided it into two directly-ruled territories.

Emirati newspaper Khaleej Times reported this week that Dubai developer Emaar Properties would build a mall in Srinagar.

Lulu Group, a UAE-headquartered company headed by an Indian billionaire, also plans to set up a food processing hub there.

But investment in the heavily militarised region is fraught with risk. There are frequent attacks by anti-India fighters, while the Indian government has at times faced international criticism for widespread crackdowns by the army.

“As far as militancy is concerned, we are dealing with it … and I can assure it will be dealt (with) fully” said Manoj Sinha, who insisted the region was a safe place for foreign investment.

source:Dawn

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