New Delhi: RITES Ltd, a leading transport infrastructure consultancy and engineering firm, has signed a Memorandum of Understanding (MoU) with global logistics giant DP World to explore joint opportunities in trade, logistics, and infrastructure projects. The move aims to open new avenues for collaboration, focusing on the development of ports, multimodal logistics parks, free trade zones, rail connectivity projects, and integrated logistics services.
According to the company's official filing, "We would like to inform you that RITES has entered into a transformative Memorandum of Understanding (MoU) with DP World to explore potential opportunities for collaboration in the development of trade, logistics, and infrastructure projects."
The signing of the MoU took place during the CEO-Connect: Dubai-India Economic Ties & Opportunities event held in Mumbai. The event was graced by the presence of the Crown Prince of Dubai and Deputy Prime Minister and Minister of Defence of the UAE, Hamdan Bin Mohammed bin Rashid Al Maktoum, and the Commerce and Industry Minister of India, Piyush Goyal. Also attending were DP World Group Chairman and CEO Sultan Ahmed bin Sulayem and RITES Chairman and Managing Director Rahul Mithal, alongside other senior leaders.
The agreement is expected to strengthen infrastructure links and trade ties between India and the UAE, offering scope for mutual growth across key sectors.
In the stock market, shares of RITES were trading at Rs 215.9, down 0.9 per cent, slipping below 2 basis points following the announcement.
BI Bureau
