DPW partners fund to invest in India
DP World and India’s National Investment and Infrastructure Fund (NIIF) have created a new platform to invest in ports, terminals, transportation and logistics businesses in the country.
The platform will invest up to US$3 billion of equity to acquire assets and develop projects in the sector. But it will also look at opportunities beyond sea ports such as river ports and transportation, freight corridors, port-led special economic zones, inland container terminals and logistics.
“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, group chairman and CEO, DP World.
The new partnership follows the Memorandum of Understanding (MoU) signed in May 2017 by His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, during a visit to India in February 2016.
But the relationship between the operator the country and goes back even further than that. DP World has been a part of India’s growth story for nearly two decades.
“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,” said Sujoy Bose, CEO, NIIF.
He pointed out that efficient logistics and cargo movement are critical components for the continued growth and development of the Indian economy and particularly, the manufacturing sector.
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