RITES Share Price Gains Over 2% After MoU with DP World for Logistics Infrastructure Development

RITES Limited has entered into a strategic Memorandum of Understanding (MoU) with global logistics giant DP World, aiming to collaborate on infrastructure development across India and the UAE. This partnership is set to explore joint ventures in ports, multimodal logistics parks, free trade zones, rail connectivity projects, and other logistics infrastructure services.

The development marks a key milestone for RITES as it aligns with India’s push to enhance its logistics capabilities and international trade corridors. Following the announcement, RITES’ share price witnessed a gain of over 2% during the trading session as of 11:07 AM. 

High-profile presence at signing ceremony

The MoU was signed in the esteemed presence of several high-ranking dignitaries, including HH Sheikh Hamdan Bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister and Minister of Defence of the UAE, and Shri Piyush Goyal, Honourable Minister of Commerce and Industry, Government of India.

The event, held as part of the CEO-Connect: Dubai-India Economic Ties & Opportunities in Mumbai, also saw the attendance of His Excellency Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, and Mr Rahul Mithal, Chairman and Managing Director of RITES Limited, along with other notable figures from the business and policy ecosystem.

Strengthening India-UAE economic collaboration

The collaboration is seen as a step forward in reinforcing economic ties between India and the UAE. Both countries have been actively working towards strengthening trade relations, and this MoU is expected to pave the way for meaningful projects in the logistics and infrastructure space.

The agreement underscores the shared intent of both entities to leverage their strengths and contribute to the development of modern trade and transport ecosystems.

Conclusion 

The MoU between RITES and DP World marks a strategic step towards enhancing logistics infrastructure. It also reflects the growing Indo-UAE economic cooperation.

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