DP World and India’s NIIF released a statement announcing the creation of an investment platform to invest in ports, terminals, transportation and logistics businesses in India. The platform will invest up to $3 billion to acquire assets and develop projects in the sector.
The partnership was established after a Memorandum of Understanding (MoU) was signed back in May 2017 and the visit to India of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, in February 2016.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “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.”
The platform will also attempt to expand beyond sea ports, in sectors such as river ports and transportation, freight corridors, port-led special economic zones, inland container terminals, and logistics infrastructure including cold storage.
“Efficient logistics and cargo movement are critical components for the continued growth and development of the Indian economy, and particularly the manufacturing sector. We are delighted to partner with DP World to create a platform which will aim to reduce the cost of moving cargo between port and origin/destination,” stated Sujoy Bose, CEO, National Investment and Infrastructure Fund.
