Dubai-based port operator DP World and the Indian Government’s fund-managing entity, the National Investment and Infrastructure Fund (NIIF), have created a new investment platform for ports, terminals, transportation and associated businesses in India.
The new platform is expected to invest up to $3bn of equity in order to acquire assets and develop various projects across the country.
The new investment platform partnership builds upon a memorandum of understanding (MoU) that was previously signed between the two organisations in May last year.
DP World CEO Sultan Ahmed Bin Sulayem said: “DP World has been a part of India’s growth story for nearly two decades and we are delighted to continue our success by joining forces with a strong strategic partner, the National Investment and Infrastructure Fund (NIIF).
“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.”
In addition to developing sea ports and associated infrastructure, the platform will also explore several other development opportunities, including river ports, freight corridors and port-led special economic zones.
It will also look to develop inland container terminals and cold storage services.
NIIF CEO Sujoy Bose said: “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.”
DP World previously completed the acquisition of an additional 66.67% stake in Empresa Brasileira de Terminais Portuários (Embraport) in Brazil from Odebrecht Transport last month, raising its total ownership in the property to 100%.