INDIA's National Investment and Infrastructure Fund (NIIF) has invested US$300 million for a 22.5 per cent stake in Hindustan Ports, a local arm of Dubai's global port operator's DP World, reports the Press Trust of India.This is the single largest investment by NIIF's master fund and takes the vehicle's total investment in DP World's India arms to $500 million.
Hindustan Ports operates five container terminals, managing more than five million TEU capacity, and accounts for a market share of over 20 per cent. It operates two terminals in Mumbai, and one each at Mundra, Chennai and Cochin.
The latest investment from the NIIF master fund extends the existing DP World and NIIF partnership, formed through the creation of Hindustan Infralog Private Limited (HIPL) in 2018.
HIPL has made substantial investments in rail logistics, multi-modal logistics parks, container freight stations, economic zones, cold chain infrastructure and contract logistics to create a market-leading integrated logistics platform.
'The broadening of our partnership with NIIF to include our flagship India ports platform is a natural extension of our existing relationship and aligns both parties to focus on delivering end-to-end supply chain solutions,' DP World's group chairman and chief executive Sultan Ahmed Bin Sulayem said.
NIIF's managing director and chief executive Sujoy Bose said the investment is a testament to the attractive opportunities in the Indian ports and logistics sector.
'The investment will enable NIIF's domestic and international investors to have a meaningful exposure in the sector through a unique and scalable platform with a significant presence across sea-based container terminals and land-based container logistics infrastructure,' he said.
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Hindustan Ports operates five container terminals, managing more than five million TEU capacity, and accounts for a market share of over 20 per cent. It operates two terminals in Mumbai, and one each at Mundra, Chennai and Cochin.
The latest investment from the NIIF master fund extends the existing DP World and NIIF partnership, formed through the creation of Hindustan Infralog Private Limited (HIPL) in 2018.
HIPL has made substantial investments in rail logistics, multi-modal logistics parks, container freight stations, economic zones, cold chain infrastructure and contract logistics to create a market-leading integrated logistics platform.
'The broadening of our partnership with NIIF to include our flagship India ports platform is a natural extension of our existing relationship and aligns both parties to focus on delivering end-to-end supply chain solutions,' DP World's group chairman and chief executive Sultan Ahmed Bin Sulayem said.
NIIF's managing director and chief executive Sujoy Bose said the investment is a testament to the attractive opportunities in the Indian ports and logistics sector.
'The investment will enable NIIF's domestic and international investors to have a meaningful exposure in the sector through a unique and scalable platform with a significant presence across sea-based container terminals and land-based container logistics infrastructure,' he said.
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