JAMMU, FEB 12: Minister for Finance, Dr Haseeb Drabu today said that the proposed Dry Ports to be established by Dubai Ports World and J&K Government through Joint Venture at Jammu and Srinagar will immensely improve quality and structure of the local economy.
“The proposed Multi Modal Logistics Parks (Dry Ports) will facilitate faster movement of local produce to the processing centres and the markets outside. This will raise the income of farmers, industrialists, traders and businessmen and create a large number of jobs,” Dr Drabu informed media-persons on his arrival from Dubai here this morning.
Dr Drabu, on behalf of J&K Government, yesterday signed a MoU in Abu Dhabi with the Dubai Ports Chairman and CEO, Sultan Ahmed-bin-Sulayem in presence of Prime Minister, Narindra Modi and the Crown Prince of Abu Dhabi Mohammed-bin-Zayed-Al-Nahyan for setting up maiden Multi Modal Logistics Parks in J&K through Foreign Direct Investment (FDI).
The Finance Minister said that Multi-Modal Logistic Park as the name suggests is one centralized place for all types of transportation activities and value added services needed by exporters and local traders for shipment of their goods. “It also works as an interlinking point for all modes of transport at one specific place,” he said and added that Dubai Ports team has already reached here to formally start work on the ambitious project in consultation with the State’s Industries and Commerce Department.
“It is heartening to note that the State Government has already started receiving business enquiries from various multinational companies in this regard,” Dr Drabu said adding that in the first phase an investment of R 1500 cr would be made by the Dubai Ports World in the multi-modal logistics parks (Dry Port) which would swell upto R 5000 cr over next 5 years.
Pertinently, Sultan Ahmed-Bin-Sulayem, alongwith a team of Senior Executives of Dubai Ports visited J&K earlier this week to hash-out the modalities for setting up Inland Logistics Parks in Jammu and Srinagar and finalize the MoU in this regard. The Dubai Ports delegation held detailed deliberations with the Chief Minister, Mehbooba Mufti; Finance Minister, Dr Haseeb Drabu; Industries Minister, Chander Parkash Ganga and other State Government officials and also visited proposed site for Logistics Park at Samba in Jammu. The delegation will be again visiting the State during summers this year to finalize the site in Kashmir, preferably at Ompora near Srinagar International Airport.