DP World steps up India infrastructure investment

The Dubai-based port terminal operator has joined with India’s National Investment and Infrastructure Fund (NIIF) to increase investments in the country’s ports, terminals, transportation and logistics businesses.    DP World has joined with India’s National Investment and Infrastructure Fund (NIIF) to increase investments in the country’s ports, terminals, transportation and logistics businesses.
   The investment platform will initially invest up to $3 billion of equity to acquire assets and develop projects in this sector.
   The platform will also look at opportunities beyond seaports, such as India’s river ports and transportation, freight corridors, port-led special economic zones, inland container terminals, and logistics infrastructure including cold storage.
   The partnership’s go-ahead follows a memorandum understanding signed between India and NIIF in May 2017.
   “We believe that our expertise in building best-in-class logistics infrastructure together with the NIIF’s local knowledge and government partnership is the right combination to take advantage of the significant growth opportunities in India,” said Sultan Ahmed Bin Sulayem, DP World’s group chairman and CEO, in a statement.
   Sujoy Bose, the fund’s CEO, noted that this announcement marks NIIF’s first investment, and will help “reduce the cost of moving cargo between port and origin/destination.”