UAE’s Sharaf Group to Invest ₹5,000 Cr in Kerala
Investment to Boost Shipping and Logistics, Strengthen Private Sector Participation
UAE’s Sharaf Group to Invest ₹5,000 Cr in Kerala’s Logistics Sector
Kerala’s efforts to attract investments have been greatly aided by the announcement of a substantial investment of Rs 5,000 crore in the logistics and shipping sector by the UAE-based Sharaf Group, according to The Hindu.
The news was made at the Invest Kerala Global Summit on Saturday, February 22.
The sector will be boosted by the investment and Kerala’s efforts to enhance private sector participation, according to Sharafuddin Sharaf, vice-chairman of the Sharaf Group.
Although the precise locations of the investments were not made public, it is probable that the UAE-based business will make investments in shipping and logistics at two sites in Kerala.
Sharaf also praised the work done by the Kerala government to host the Invest Kerala Global Summit.
The Sharaf Group, he said, has been a dominant force in India for more than 20 years and operates in seven major cities in the areas of logistics, shipping, and railroads.
He claimed that as Kerala is working to draw in fresh investment, the new investment choice will help give the industry greater vigor.
